Malibu Boats (NASDAQ:MBUU) Sees Unusually-High Trading Volume – Time to Buy?

Malibu Boats, Inc. (NASDAQ:MBUU) shares saw unusually-high trading volume on Wednesday . Approximately 192,152 shares traded hands during mid-day trading, an increase of 41% from the previous session’s volume of 135,885 shares.The stock last traded at $37.13 and had previously closed at $36.91.

Wall Street Analysts Forecast Growth

Several analysts have commented on MBUU shares. Truist Financial dropped their target price on shares of Malibu Boats from $42.00 to $34.00 and set a “hold” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird boosted their price objective on shares of Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. KeyCorp lowered their target price on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Benchmark restated a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a report on Friday, November 1st. Finally, StockNews.com raised Malibu Boats to a “sell” rating in a research report on Saturday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $42.71.

Malibu Boats Trading Down 1.2 %

The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $39.59 and a 200-day moving average price of $38.53. The company has a market cap of $719.46 million, a P/E ratio of -9.17 and a beta of 1.32.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. The company had revenue of $171.60 million during the quarter, compared to the consensus estimate of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The company’s quarterly revenue was down 32.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. Analysts forecast that Malibu Boats, Inc. will post 2.06 earnings per share for the current fiscal year.

Institutional Trading of Malibu Boats

Hedge funds have recently made changes to their positions in the business. Studio Investment Management LLC grew its stake in Malibu Boats by 53.7% in the 3rd quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after buying an additional 380 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Malibu Boats in the third quarter valued at approximately $74,000. Central Pacific Bank Trust Division increased its stake in shares of 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 purchasing an additional 368 shares during the period. SG Americas Securities LLC increased its stake in shares of Malibu Boats by 31.6% during the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock worth $202,000 after purchasing an additional 1,252 shares during the period. Finally, US Bancorp DE lifted its holdings in Malibu Boats by 851.7% during the 3rd quarter. US Bancorp DE now owns 5,434 shares of the company’s stock worth $211,000 after purchasing an additional 4,863 shares during the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

About Malibu Boats

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.