Malibu Boats (NASDAQ:MBUU) Shares Gap Down – What’s Next?

Malibu Boats, Inc. (NASDAQ:MBUU) 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 changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Truist Financial upped their price target 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. Benchmark reaffirmed a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a report on Tuesday, February 4th. B. Riley raised shares of Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. Finally, KeyCorp downgraded shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Malibu Boats presently has an average rating of “Hold” and a consensus target price of $42.83.

Malibu Boats Stock Performance

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 stock’s 50-day moving average is $35.10 and its 200-day moving average is $38.45. The firm has a market capitalization of $590.42 million, a price-to-earnings ratio of -6.91 and a beta of 1.42.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) 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, analysts predict that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors and hedge funds have recently added to or reduced their stakes in MBUU. Empowered Funds LLC increased its position in Malibu Boats by 38.8% in the 3rd quarter. Empowered Funds LLC now owns 66,606 shares of the company’s stock valued at $2,585,000 after acquiring an additional 18,636 shares during the period. Pzena Investment Management LLC boosted its stake in shares of Malibu Boats by 5.2% in the 3rd quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock valued at $60,362,000 after purchasing an additional 77,015 shares during the last quarter. Studio Investment Management LLC boosted its stake 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 valued at $42,000 after purchasing an additional 380 shares during the last quarter. FMR LLC boosted its stake in shares of Malibu Boats by 8.2% in the 3rd quarter. FMR LLC now owns 136,043 shares of the company’s stock valued at $5,280,000 after purchasing an additional 10,276 shares during the last quarter. Finally, De Lisle Partners LLP boosted its stake in shares of Malibu Boats by 6.0% in the 3rd quarter. De Lisle Partners LLP now owns 106,369 shares of the company’s stock valued at $4,131,000 after purchasing an additional 6,000 shares during the last quarter. 91.35% of the stock is currently 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.