Bank of America Corp DE boosted its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 48.2% during the first quarter, Holdings Channel reports. The institutional investor owned 72,202 shares of the company’s stock after buying an additional 23,474 shares during the period. Bank of America Corp DE’s holdings in Malibu Boats were worth $1,621,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Malibu Boats during the first quarter worth about $206,000. LSV Asset Management purchased a new position in shares of Malibu Boats during the first quarter worth about $237,000. American International Group Inc. increased its position in shares of Malibu Boats by 7.1% in the first quarter. American International Group Inc. now owns 11,115 shares of the company’s stock worth $250,000 after buying an additional 733 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Malibu Boats by 17.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,158 shares of the company’s stock worth $251,000 after buying an additional 1,946 shares in the last quarter. Finally, HPM Partners LLC purchased a new position in shares of Malibu Boats during the first quarter worth about $339,000. Institutional investors own 99.80% of the company’s stock.

Shares of Malibu Boats, Inc. (MBUU) traded up 0.1158% during mid-day trading on Tuesday, hitting $25.8499. 23,338 shares of the stock traded hands. The stock has a 50-day moving average of $27.32 and a 200 day moving average of $23.62. The stock has a market cap of $463.49 million, a PE ratio of 20.6799 and a beta of 0.98. Malibu Boats, Inc. has a one year low of $12.35 and a one year high of $29.50.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally published by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright laws. The original version of this piece of content can be read at https://www.watchlistnews.com/bank-of-america-corp-de-purchases-23474-shares-of-malibu-boats-inc-mbuu/1491810.html.

A number of research analysts recently issued reports on MBUU shares. BidaskClub downgraded shares of Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Zacks Investment Research upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Tuesday, May 9th. B. Riley reiterated a “buy” rating and issued a $26.00 price target on shares of Malibu Boats in a research note on Monday, May 8th. ValuEngine upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $22.00 price target on shares of Malibu Boats in a research note on Thursday, May 4th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $25.40.

Malibu Boats Company Profile

Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.

Want to see what other hedge funds are holding MBUU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Malibu Boats, Inc. (NASDAQ:MBUU).

Institutional Ownership by Quarter for Malibu Boats (NASDAQ:MBUU)

Receive News & Ratings for Malibu Boats Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Malibu Boats Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.