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Recent Insider Activity Suggests Potential Gains for Malibu Boats Inc (MBUU)

Malibu Boats Inc’s filing revealed that its Executive Chair Hooks Michael K. acquired Company’s shares for reported $0.54 million on Feb 22 ’24. In the deal valued at $42.82 per share,12,500 shares were bought. As a result of this transaction, Hooks Michael K. now holds 12,500 shares worth roughly $0.43 million.

Then, Black David Scott sold 631 shares, generating $27,385 in total proceeds. Upon selling the shares at $43.40, the Interim CFO now owns 3,162 shares.

Before that, Anderson Ritchie L. sold 13,360 shares. Malibu Boats Inc shares valued at $589,766 were divested by the Chief Operating Officer at a price of $44.14 per share. As a result of the transaction, Anderson Ritchie L. now holds 42,311 shares, worth roughly $1.44 million.

Raymond James downgraded its Malibu Boats Inc [MBUU] rating to a Mkt perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including B. Riley Securities’s analysts, who decreased its forecast for the stock in mid June from “a Buy” to “a Neutral”. KeyBanc Capital Markets began covering MBUU with “an Overweight” recommendation on April 19, 2023. DA Davidson started covering the stock on September 30, 2022. It rated MBUU as “a Neutral”.

Price Performance Review of MBUU

On Tuesday, Malibu Boats Inc [NASDAQ:MBUU] saw its stock fall -2.21% to $34.02. Over the last five days, the stock has gained 0.03%. Malibu Boats Inc shares have fallen nearly -37.94% since the year began. Nevertheless, the stocks have fallen -40.05% over the past one year. While a 52-week high of $62.36 was reached on 01/02/24, a 52-week low of $32.90 was recorded on 04/25/24. SMA at 50 days reached $40.04, while 200 days put it at $47.61. A total of 0.36 million shares were traded, compared to the trading of 0.25 million shares in the previous session.

Levels Of Support And Resistance For MBUU Stock

The 24-hour chart illustrates a support level at 33.51, which if violated will result in even more drops to 32.99. On the upside, there is a resistance level at 34.61. A further resistance level may holdings at 35.19. The Relative Strength Index (RSI) on the 14-day chart is 32.36, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.93, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.07%. Stochastics %K at 14.48% indicates the stock is a buying.

The most recent change occurred on September 30, 2021 when Wolfe Research began covering the stock and recommended ‘”an Outperform”‘ rating along with a $81 price target.

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