Malibu Boats (NASDAQ:MBUU) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Malibu Boats, Inc. (NASDAQ:MBUU) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $38.75 and traded as low as $32.89. Malibu Boats shares last traded at $33.38, with a volume of 164,879 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Truist Financial boosted their price objective on Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a report on Friday, January 31st. B. Riley upgraded Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. KeyCorp dropped their price objective on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a report on Friday, February 14th. Finally, Benchmark reiterated a “buy” rating and issued a $44.00 target price on shares of Malibu Boats in a report on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.83.

Malibu Boats Trading Down 0.6 %

The stock has a market capitalization of $655.42 million, a P/E ratio of -7.67 and a beta of 1.33. 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 50-day moving average price of $36.49 and a 200 day moving average price of $38.75.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. On average, research analysts forecast that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Pzena Investment Management LLC increased its position in Malibu Boats by 5.2% during the 3rd quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock valued at $60,362,000 after buying an additional 77,015 shares in the last quarter. Wellington Management Group LLP increased its position in Malibu Boats by 3.8% during the 4th quarter. Wellington Management Group LLP now owns 1,533,605 shares of the company’s stock valued at $57,648,000 after buying an additional 56,629 shares in the last quarter. Cooke & Bieler LP increased its position in Malibu Boats by 1.0% during the 4th quarter. Cooke & Bieler LP now owns 1,343,660 shares of the company’s stock valued at $50,508,000 after buying an additional 13,767 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in Malibu Boats by 1.0% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 719,717 shares of the company’s stock valued at $27,054,000 after buying an additional 6,865 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Malibu Boats by 10.6% during the 4th quarter. American Century Companies Inc. now owns 579,664 shares of the company’s stock valued at $21,790,000 after buying an additional 55,767 shares in the last quarter. 91.35% of the stock is 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.