Malibu Boats (NASDAQ:MBUU) Shares Gap Down – Here’s Why

Malibu Boats, Inc. (NASDAQ:MBUU) shares gapped down prior to trading on Thursday . The stock had previously closed at $30.81, but opened at $29.19. Malibu Boats shares last traded at $30.00, with a volume of 12,291 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MBUU. Benchmark restated a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a report on Tuesday, February 4th. KeyCorp lowered shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a report on Thursday. Truist Financial boosted their price objective on shares of Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Friday, January 31st. StockNews.com upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, B. Riley upgraded shares of Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $42.83.

Malibu Boats Stock Down 0.9 %

The stock’s fifty day moving average is $34.91 and its 200 day moving average is $38.34. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $580.21 million, a P/E ratio of -6.79 and a beta of 1.42.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates 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%. Research analysts predict that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Institutional investors and hedge funds have recently modified their holdings of the stock. Heck Capital Advisors LLC purchased a new stake in shares of Malibu Boats in the 4th quarter worth about $38,000. Studio Investment Management LLC lifted its position in shares of Malibu Boats by 53.7% in the 3rd quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock worth $42,000 after purchasing an additional 380 shares during the period. Quarry LP purchased a new stake in shares of Malibu Boats in the 4th quarter worth about $45,000. Central Pacific Bank Trust Division lifted its position in shares of Malibu Boats by 11.3% in the 4th 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. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Malibu Boats in the 4th quarter worth about $150,000. 91.35% of the stock is 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.