Malibu Boats (NASDAQ:MBUU) Reaches New 52-Week Low at $36.39

Malibu Boats, Inc. (NASDAQ:MBUU)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $36.39 and last traded at $36.70, with a volume of 69098 shares trading hands. The stock had previously closed at $38.48.

Wall Street Analysts Forecast Growth

MBUU has been the subject of several research analyst reports. Truist Financial dropped their target price on shares of Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. KeyCorp dropped their target price on shares of Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Raymond James lowered shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday. StockNews.com upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Finally, B. Riley lowered their price objective on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $49.00.

Malibu Boats Trading Down 3.5 %

The company has a current ratio of 1.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average price is $42.83 and its two-hundred day moving average price is $46.64. The stock has a market capitalization of $712.80 million, a P/E ratio of 11.18 and a beta of 1.37.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.47 by $0.10. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The company had revenue of $211.07 million for the quarter, compared to the consensus estimate of $219.64 million. During the same period in the previous year, the firm earned $1.78 earnings per share. The firm’s revenue for the quarter was down 37.7% on a year-over-year basis. Equities research analysts forecast that Malibu Boats, Inc. will post 2.57 EPS for the current year.

Insider Buying and Selling at Malibu Boats

In related news, insider Michael K. Hooks acquired 12,500 shares of Malibu Boats stock in a transaction on Thursday, February 22nd. The shares were acquired at an average cost of $42.82 per share, with a total value of $535,250.00. Following the transaction, the insider now owns 12,500 shares in the company, valued at $535,250. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in shares of Malibu Boats by 315.0% in the 4th quarter. Wellington Management Group LLP now owns 64,741 shares of the company’s stock worth $3,549,000 after buying an additional 49,141 shares during the period. Cim LLC purchased a new stake in shares of Malibu Boats in the 4th quarter worth about $353,000. Price T Rowe Associates Inc. MD grew its position in shares of Malibu Boats by 4.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,288 shares of the company’s stock worth $510,000 after buying an additional 433 shares during the period. Legal & General Group Plc grew its position in shares of Malibu Boats by 2.5% in the 4th quarter. Legal & General Group Plc now owns 25,412 shares of the company’s stock worth $1,393,000 after buying an additional 615 shares during the period. Finally, Barclays PLC grew its position in shares of Malibu Boats by 36.8% in the 4th quarter. Barclays PLC now owns 43,921 shares of the company’s stock worth $2,408,000 after buying an additional 11,817 shares during the period. 91.35% of the stock is owned by hedge funds and other 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.