Malibu Boats (NASDAQ:MBUU) Trading Down 6% – Here’s Why

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price fell 6% during mid-day trading on Monday . The stock traded as low as $36.12 and last traded at $35.99. 77,779 shares were traded during trading, a decline of 54% from the average session volume of 170,166 shares. The stock had previously closed at $38.29.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MBUU shares. Truist Financial increased their price objective on shares of Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Friday. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Friday, November 1st. StockNews.com raised shares of Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. Robert W. Baird raised their price objective on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Malibu Boats has a consensus rating of “Hold” and an average target price of $42.83.

Malibu Boats Stock Performance

The stock has a market capitalization of $704.88 million, a P/E ratio of -8.25 and a beta of 1.33. The stock has a 50 day simple moving average of $39.00 and a two-hundred day simple moving average of $38.81. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. On average, equities analysts forecast that Malibu Boats, Inc. will post 2.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors have recently bought and sold shares of MBUU. Heck Capital Advisors LLC acquired a new stake in Malibu Boats during the 4th quarter valued at $38,000. Studio Investment Management LLC grew its position in Malibu Boats by 53.7% during the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock worth $42,000 after buying an additional 380 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Malibu Boats in the third quarter worth $74,000. Central Pacific Bank Trust Division grew its stake in Malibu Boats by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after buying an additional 368 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Malibu Boats by 31.6% in the 3rd quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock valued at $202,000 after buying an additional 1,252 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Company Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.