Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Malibu Boats Inc shares valued at $668,600 were purchased by Lanigan Mark W. on May 06 ’24. At $33.43 per share, Lanigan Mark W. acquired 20,000 shares. The insider’s holdings grew to 73,368 shares worth approximately $2.55 million following the completion of this transaction.
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Also, Hooks Michael K. purchased 12,500 shares, netting a total of over 535,250 in proceeds. Following the buying of shares at $42.82 each, the insider now holds 12,500 shares.
Before that, Black David Scott had sold 631 shares from its account. In a trade valued at $27,385, the Interim CFO traded Malibu Boats Inc shares for $43.40 each. Upon closing the transaction, the insider’s holdings decreased to 631 shares, worth approximately $0.11 million.
As published in a research note from DA Davidson on July 24, 2024, Malibu Boats Inc [MBUU] has been rated up from a Neutral to a Buy and the price target has been revised to $45. Analysts at DA Davidson downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late July. As of July 08, 2024, Truist has decreased its “Buy” rating to a “Hold” for MBUU. Earlier on May 22, 2024, The Benchmark Company initiated its rating. Their recommendation was “a Buy” for MBUU stock.
Analyzing MBUU Stock Performance
During the last five days, there has been a surge of approximately 1.19%. Over the course of the year, Malibu Boats Inc shares have dropped approximately -36.61%. Shares of the company reached a 52-week high of $55.07 on 01/02/24 and a 52-week low of $30.20 on 07/10/24. A 50-day SMA is recorded $35.18, while a 200-day SMA reached $41.08. Nevertheless, trading volume fell to 0.51 million shares from 0.19 million shares the previous day.
Support And Resistance Levels for Malibu Boats Inc (MBUU)
According to the 24-hour chart, there is a support level at 33.03, which, if violated, would cause prices to drop to 31.31. In the upper region, resistance lies at 36.10. The next price resistance is at 37.46. RSI (Relative Strength Index) is 47.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.16, which suggests the price will decrease in the coming days. Percent R is at 54.33%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
