Malibu Boats (NASDAQ:MBUU) Trading Down 5.3% – Here’s What Happened

Malibu Boats, Inc. (NASDAQ:MBUU) shares traded down 5.3% on Tuesday . The stock traded as low as $42.63 and last traded at $42.81. 49,266 shares traded hands during trading, a decline of 80% from the average session volume of 250,562 shares. The stock had previously closed at $45.22.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, November 1st. StockNews.com raised shares of Malibu Boats to a “sell” rating in a research report on Saturday, November 2nd. KeyCorp raised their price target on shares of Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Robert W. Baird raised their price target 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. Finally, Benchmark reissued a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a research 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 MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.57.

Malibu Boats Stock Performance

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’s 50 day moving average is $41.32 and its two-hundred day moving average is $37.73. The company has a market cap of $860.58 million, a PE ratio of -10.96 and a beta of 1.36.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The company had revenue of $171.60 million for the quarter, compared to analysts’ expectations of $165.33 million. During the same quarter in the previous year, the company earned $1.07 EPS. Malibu Boats’s revenue for the quarter was down 32.9% on a year-over-year basis. On average, equities research analysts anticipate that Malibu Boats, Inc. will post 2.01 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Studio Investment Management LLC lifted its stake in shares of Malibu Boats by 264.4% during the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after buying an additional 513 shares in the last quarter. nVerses Capital LLC bought a new stake in Malibu Boats in the 3rd quarter valued at $74,000. SG Americas Securities LLC bought a new stake in Malibu Boats in the 2nd quarter valued at $139,000. Benjamin Edwards Inc. increased its holdings in Malibu Boats by 43.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock valued at $179,000 after acquiring an additional 1,539 shares during the last quarter. Finally, US Bancorp DE increased its holdings in Malibu Boats by 851.7% in the 3rd quarter. US Bancorp DE now owns 5,434 shares of the company’s stock valued at $211,000 after acquiring an additional 4,863 shares during the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

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.