StockNews.com Downgrades Malibu Boats (NASDAQ:MBUU) to Sell

Malibu Boats (NASDAQ:MBUU) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

MBUU has been the subject of a number of other research reports. KeyCorp cut their price objective on shares of Malibu Boats from $50.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Truist Financial cut their price objective on shares of Malibu Boats from $52.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Robert W. Baird cut their price objective on shares of Malibu Boats from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. B. Riley dropped their target price on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Finally, Raymond James downgraded shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Malibu Boats presently has an average rating of “Hold” and a consensus target price of $43.00.

Malibu Boats Price Performance

Shares of MBUU opened at $34.45 on Monday. The firm has a market cap of $704.16 million, a PE ratio of -12.90 and a beta of 1.41. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $39.06 and a two-hundred day simple moving average of $44.89. Malibu Boats has a 1-year low of $31.47 and a 1-year high of $62.36.

Insider Activity

In other Malibu Boats news, insider Michael K. Hooks bought 12,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the transaction, the insider now owns 12,500 shares of the company’s stock, valued at $535,250. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Michael K. Hooks bought 12,500 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were acquired at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the purchase, the insider now directly owns 12,500 shares of the company’s stock, valued at $535,250. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark W. Lanigan bought 20,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was bought at an average price of $33.43 per share, for a total transaction of $668,600.00. Following the completion of the purchase, the director now directly owns 73,368 shares in the company, valued at $2,452,692.24. The disclosure for this purchase can be found here. Corporate insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On Malibu Boats

Hedge funds have recently added to or reduced their stakes in the stock. Inspire Investing LLC bought a new position in shares of Malibu Boats during the first quarter valued at approximately $304,000. Inspire Advisors LLC bought a new position in shares of Malibu Boats during the first quarter valued at approximately $1,008,000. Empowered Funds LLC boosted its stake in shares of Malibu Boats by 21.3% during the first quarter. Empowered Funds LLC now owns 48,322 shares of the company’s stock valued at $2,091,000 after purchasing an additional 8,480 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of Malibu Boats by 121.9% during the first quarter. Quantbot Technologies LP now owns 6,568 shares of the company’s stock valued at $284,000 after purchasing an additional 3,608 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in shares of Malibu Boats during the first quarter valued at approximately $142,000. 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.