Malibu Boats (NASDAQ:MBUU) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $28.49 and traded as low as $23.92. Malibu Boats shares last traded at $24.15, with a volume of 318,274 shares traded.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Zacks Research upgraded shares of Malibu Boats from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Malibu Boats in a report on Friday, March 27th. Loop Capital started coverage on shares of Malibu Boats in a report on Monday, December 22nd. They issued a “buy” rating and a $34.00 price target for the company. Finally, Griffin Securities set a $30.00 price target on shares of Malibu Boats in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Malibu Boats presently has an average rating of “Hold” and an average target price of $32.40.

Malibu Boats Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.49 and a current ratio of 1.56. The company’s fifty day simple moving average is $28.49 and its two-hundred day simple moving average is $29.42. The stock has a market capitalization of $449.26 million, a PE ratio of 33.08 and a beta of 1.22.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, February 5th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. Malibu Boats had a net margin of 1.76% and a return on equity of 4.25%. The firm had revenue of $188.62 million during the quarter, compared to the consensus estimate of $181.96 million. During the same period last year, the firm posted $0.31 EPS. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, sell-side analysts predict that Malibu Boats, Inc. will post 1.69 EPS for the current year.

Malibu Boats declared that its board has authorized a stock buyback plan on Friday, December 19th that allows the company to buyback $70.00 million in shares. This buyback authorization allows the company to repurchase up to 12.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Malibu Boats by 31.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,312 shares of the company’s stock worth $43,000 after purchasing an additional 313 shares during the last quarter. Invesco Ltd. boosted its position in Malibu Boats by 0.8% during the fourth quarter. Invesco Ltd. now owns 53,074 shares of the company’s stock worth $1,497,000 after acquiring an additional 432 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Malibu Boats by 4.2% during the third quarter. JPMorgan Chase & Co. now owns 10,936 shares of the company’s stock worth $355,000 after acquiring an additional 441 shares during the last quarter. Creative Planning boosted its position in Malibu Boats by 5.0% during the second quarter. Creative Planning now owns 9,471 shares of the company’s stock worth $297,000 after acquiring an additional 453 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Malibu Boats by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company’s stock worth $356,000 after acquiring an additional 491 shares during the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Company Profile

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.