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

Malibu Boats, Inc. (NASDAQ:MBUU)’s share price gapped down before the market opened on Friday . The stock had previously closed at $43.64, but opened at $42.01. Malibu Boats shares last traded at $43.13, with a volume of 9,187 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MBUU. KeyCorp upped their price target on Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. StockNews.com raised Malibu Boats to a “sell” rating in a research report on Saturday, November 2nd. DA Davidson cut Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research report on Friday, November 1st. Truist Financial boosted their price objective on Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Benchmark reissued a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Malibu Boats currently has a consensus rating of “Hold” and an average price target of $44.57.

Malibu Boats Price Performance

The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $41.47 and a 200 day moving average price of $37.83. The stock has a market cap of $854.65 million, a PE ratio of -10.89 and a beta of 1.36.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The company had revenue of $171.60 million for the quarter, compared to analyst estimates of $165.33 million. During the same period in the previous year, the company posted $1.07 EPS. The firm’s revenue for the quarter was down 32.9% compared to the same quarter last year. As a group, research analysts forecast that Malibu Boats, Inc. will post 2.01 earnings per share for the current fiscal year.

Institutional Trading of Malibu Boats

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Studio Investment Management LLC raised its stake in shares of Malibu Boats by 264.4% during the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after purchasing an additional 513 shares during the period. nVerses Capital LLC bought a new position in Malibu Boats in the 3rd quarter worth about $74,000. SG Americas Securities LLC bought a new position in Malibu Boats in the 2nd quarter worth about $139,000. Benjamin Edwards Inc. increased its stake in Malibu Boats by 43.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock worth $179,000 after acquiring an additional 1,539 shares during the last quarter. Finally, US Bancorp DE increased its stake in Malibu Boats by 851.7% in the 3rd quarter. US Bancorp DE now owns 5,434 shares of the company’s stock worth $211,000 after acquiring an additional 4,863 shares during the last quarter. 91.35% of the stock is currently owned by institutional investors.

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.