Malibu Boats (NASDAQ:MBUU) Sees Unusually-High Trading Volume

Malibu Boats, Inc. (NASDAQ:MBUU) shares saw unusually-strong trading volume on Friday . Approximately 192,753 shares were traded during mid-day trading, a decline of 24% from the previous session’s volume of 253,675 shares.The stock last traded at $34.91 and had previously closed at $34.16.

Wall Street Analysts Forecast Growth

MBUU has been the subject of a number of recent research reports. StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Robert W. Baird reiterated an “outperform” rating and issued a $54.00 price target on shares of Malibu Boats in a research report on Friday, January 19th. Raymond James downgraded Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. Truist Financial decreased their target price on shares of Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Finally, KeyCorp cut their price target on shares of Malibu Boats from $58.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $49.00.

Malibu Boats Stock Up 0.9 %

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 company has a market cap of $704.43 million, a price-to-earnings ratio of 11.05 and a beta of 1.37. The business has a fifty day moving average price of $41.87 and a two-hundred day moving average price of $46.26.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $211.07 million during the quarter, compared to the consensus estimate of $219.64 million. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The company’s revenue was down 37.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 EPS. On average, equities analysts predict that Malibu Boats, Inc. will post 2.55 earnings per share for the current year.

Insider Activity

In other Malibu Boats news, insider Michael K. Hooks acquired 12,500 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average price of $42.82 per share, with a total value of $535,250.00. Following the transaction, the insider now owns 12,500 shares of the company’s stock, valued at $535,250. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.62% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Malibu Boats

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cooke & Bieler LP grew its position in Malibu Boats by 35.2% in the 4th quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock worth $50,476,000 after purchasing an additional 239,707 shares during the last quarter. Millennium Management LLC acquired a new stake in Malibu Boats during the second quarter worth about $9,260,000. Invesco Ltd. increased its stake in Malibu Boats by 272.7% during the third quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock valued at $6,231,000 after acquiring an additional 93,004 shares during the period. Fort Washington Investment Advisors Inc. OH raised its holdings in Malibu Boats by 29.3% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 318,826 shares of the company’s stock valued at $15,629,000 after acquiring an additional 72,330 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Malibu Boats by 57.8% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 196,943 shares of the company’s stock worth $9,654,000 after acquiring an additional 72,120 shares during the period. 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.