Malibu Boats (NASDAQ:MBUU) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Malibu Boats, Inc. (NASDAQ:MBUU)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $28.76 and traded as high as $29.93. Malibu Boats shares last traded at $29.49, with a volume of 143,347 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MBUU shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Malibu Boats in a research note on Monday. Zacks Research cut Malibu Boats from a “hold” rating to a “strong sell” rating in a report on Friday, November 28th. B. Riley dropped their price target on Malibu Boats from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. DA Davidson cut their price objective on shares of Malibu Boats from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Monday, September 8th. Finally, Truist Financial lifted their price objective on shares of Malibu Boats from $30.00 to $37.00 and gave the company a “hold” rating in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $36.50.

Malibu Boats Stock Up 1.0%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 1.63. The firm has a market capitalization of $560.36 million, a PE ratio of 29.73 and a beta of 1.20. The company has a fifty day moving average price of $28.72 and a 200-day moving average price of $31.79.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, October 30th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $194.73 million during the quarter, compared to analyst estimates of $182.09 million. Malibu Boats had a net margin of 2.31% and a return on equity of 5.28%. Malibu Boats’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. As a group, analysts expect that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Institutional Trading of Malibu Boats

Several hedge funds have recently made changes to their positions in MBUU. Verition Fund Management LLC lifted its holdings in shares of Malibu Boats by 51.2% in the 3rd quarter. Verition Fund Management LLC now owns 12,384 shares of the company’s stock valued at $402,000 after acquiring an additional 4,194 shares during the last quarter. Millennium Management LLC purchased a new stake in Malibu Boats during the third quarter valued at approximately $211,000. Dean Capital Management lifted its stake in shares of Malibu Boats by 107.4% in the 3rd quarter. Dean Capital Management now owns 100,285 shares of the company’s stock valued at $3,254,000 after purchasing an additional 51,927 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Malibu Boats by 37.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 310,388 shares of the company’s stock valued at $10,072,000 after purchasing an additional 84,146 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of Malibu Boats by 45.1% in the 3rd quarter. Creative Planning now owns 13,740 shares of the company’s stock worth $446,000 after purchasing an additional 4,269 shares during the period. 91.35% of the stock is currently 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.