Malibu Boats (NASDAQ:MBUU) Share Price Passes Below 200-Day Moving Average – What’s Next?

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $38.45 and traded as low as $34.68. Malibu Boats shares last traded at $35.21, with a volume of 134,816 shares trading hands.

Analysts Set New Price Targets

MBUU has been the subject of several recent analyst reports. DA Davidson cut shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Friday, November 1st. Truist Financial cut their price target on shares of Malibu Boats from $42.00 to $34.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. Benchmark reissued a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research note on Friday, November 1st. StockNews.com upgraded Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. Finally, KeyCorp decreased their price target on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.71.

Malibu Boats Stock Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55. The firm has a market cap of $694.17 million, a P/E ratio of -8.85 and a beta of 1.32. The company’s 50 day moving average is $40.11 and its 200 day moving average is $38.45.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results 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 analysts’ expectations of $165.33 million. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. Malibu Boats’s revenue was down 32.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS. As a group, equities analysts predict that Malibu Boats, Inc. will post 2.01 earnings per share for the current fiscal year.

Institutional Trading of Malibu Boats

A number of hedge funds have recently made changes to their positions in MBUU. Wellington Management Group LLP increased its stake in shares of Malibu Boats by 154.8% in the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock valued at $57,321,000 after buying an additional 897,387 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Malibu Boats by 94.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after acquiring an additional 409,574 shares during the last quarter. Janus Henderson Group PLC increased its position in Malibu Boats by 1,267.7% in the 3rd quarter. Janus Henderson Group PLC now owns 238,576 shares of the company’s stock valued at $9,259,000 after acquiring an additional 221,133 shares during the period. Lodge Hill Capital LLC bought a new position in shares of Malibu Boats during the second quarter valued at $4,866,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Malibu Boats by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after purchasing an additional 111,699 shares during the period. 91.35% of the stock is owned by institutional investors and hedge funds.

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.