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

Malibu Boats, Inc. (NASDAQ:MBUU)’s share price 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 traded.

Analysts Set New Price Targets

MBUU has been the subject of several research reports. KeyCorp lowered shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a research note on Thursday. B. Riley upgraded shares of Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. StockNews.com upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Truist Financial raised their price objective on shares of Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, Benchmark restated a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.83.

Malibu Boats Price Performance

The business’s 50 day moving average price is $34.91 and its 200 day moving average price is $38.34. The stock has a market capitalization of $580.21 million, a P/E ratio of -6.79 and a beta of 1.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45.

Malibu Boats (NASDAQ:MBUU) last announced 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 positive return on equity of 1.04% and a negative net margin of 12.09%. Sell-side analysts forecast that Malibu Boats, Inc. will post 1.69 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

Institutional investors and hedge funds have recently made changes to their positions in the business. Heck Capital Advisors LLC purchased a new position in shares of Malibu Boats in the fourth quarter worth approximately $38,000. Studio Investment Management LLC boosted its holdings in shares of Malibu Boats by 53.7% in the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock worth $42,000 after buying an additional 380 shares during the last quarter. Quarry LP purchased a new position in shares of Malibu Boats in the fourth quarter worth approximately $45,000. Central Pacific Bank Trust Division boosted its holdings in shares of Malibu Boats by 11.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after buying an additional 368 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Malibu Boats in the fourth quarter worth approximately $150,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

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.