Malibu Boats (NASDAQ:MBUU) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) saw unusually-high trading volume on Wednesday . Approximately 192,152 shares changed hands during mid-day trading, an increase of 41% from the previous session’s volume of 135,885 shares.The stock last traded at $37.13 and had previously closed at $36.91.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MBUU. Truist Financial cut their price target on Malibu Boats from $42.00 to $34.00 and set a “hold” rating on the stock in a research note on Tuesday, January 7th. KeyCorp lowered their price objective on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Friday, November 1st. Finally, Robert W. Baird increased their target price on Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $42.71.

Malibu Boats Trading Down 0.3 %

The firm has a market cap of $751.73 million, a P/E ratio of -9.58 and a beta of 1.32. The stock has a 50 day simple moving average of $39.27 and a 200-day simple moving average of $38.59. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.16. The company had revenue of $171.60 million during the quarter, compared to analyst estimates of $165.33 million. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The firm’s revenue was down 32.9% on a year-over-year basis. During the same quarter last year, the business posted $1.07 earnings per share. On average, equities research analysts expect that Malibu Boats, Inc. will post 2.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of Malibu Boats by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock worth $22,361,000 after purchasing an additional 43,769 shares during the last quarter. Meros Investment Management LP acquired a new position in Malibu Boats in the third quarter valued at approximately $4,117,000. Empowered Funds LLC increased its position in shares of Malibu Boats by 38.8% in the third quarter. Empowered Funds LLC now owns 66,606 shares of the company’s stock valued at $2,585,000 after buying an additional 18,636 shares in the last quarter. Barclays PLC lifted its position in shares of Malibu Boats by 92.6% in the third quarter. Barclays PLC now owns 46,919 shares of the company’s stock valued at $1,820,000 after acquiring an additional 22,556 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Malibu Boats by 37.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 114,525 shares of the company’s stock valued at $4,445,000 after purchasing an additional 31,026 shares in the last quarter. Hedge funds and other 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.