Malibu Boats (NASDAQ:MBUU) Hits New 1-Year Low at $31.85

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $31.85 and last traded at $32.34, with a volume of 71337 shares trading hands. The stock had previously closed at $33.06.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. KeyCorp dropped their target price on Malibu Boats from $50.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday. B. Riley dropped their target price on Malibu Boats from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Truist Financial dropped their price objective on Malibu Boats from $52.00 to $42.00 and set a “buy” rating on the stock in a report on Friday. Robert W. Baird dropped their price objective on Malibu Boats from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday. Finally, StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $43.00.

Malibu Boats Trading Up 2.7 %

The stock has a 50-day simple moving average of $39.44 and a 200 day simple moving average of $45.19. The company has a current ratio of 1.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $211.07 million for the quarter, compared to the consensus estimate of $219.64 million. Malibu Boats had a positive return on equity of 17.56% and a negative net margin of 5.19%. Malibu Boats’s quarterly revenue was down 37.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 earnings per share. On average, equities analysts anticipate that Malibu Boats, Inc. will post 2.55 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Michael K. Hooks acquired 12,500 shares of Malibu Boats stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the transaction, the insider now directly owns 12,500 shares of the company’s stock, valued at $535,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.62% of the stock is owned by company insiders.

Institutional Trading of Malibu Boats

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its position in Malibu Boats by 828.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,686 shares of the company’s stock worth $2,285,000 after buying an additional 37,197 shares during the period. Invesco Ltd. lifted its position in Malibu Boats by 272.7% during the third quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock worth $6,231,000 after buying an additional 93,004 shares during the period. UBS Group AG lifted its position in Malibu Boats by 33.7% during the third quarter. UBS Group AG now owns 147,563 shares of the company’s stock worth $7,234,000 after buying an additional 37,217 shares during the period. Vanguard Group Inc. lifted its position in Malibu Boats by 2.7% during the third quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock worth $66,926,000 after buying an additional 35,474 shares during the period. Finally, Swiss National Bank lifted its position in Malibu Boats by 1.8% during the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock worth $2,226,000 after buying an additional 800 shares during the period. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

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.