Malibu Boats (NASDAQ:MBUU) Stock Rating Lowered by StockNews.com

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

Other equities analysts have also recently issued reports about the stock. B. Riley decreased their target price on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Truist Financial decreased their target price on shares of Malibu Boats from $52.00 to $42.00 and set a “buy” rating for the company in a research note on Friday. Raymond James cut shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Monday, April 15th. KeyCorp cut their price target on Malibu Boats from $50.00 to $38.00 and set an “overweight” rating for the company in a report on Friday. Finally, Robert W. Baird cut their price target on Malibu Boats from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $43.00.

Malibu Boats Stock Up 4.9 %

Shares of NASDAQ:MBUU traded up $1.60 during midday trading on Monday, hitting $34.24. The stock had a trading volume of 405,079 shares, compared to its average volume of 280,746. Malibu Boats has a 12 month low of $31.47 and a 12 month high of $62.36. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $39.25 and its 200-day simple moving average is $45.00. The company has a market cap of $699.87 million, a P/E ratio of -12.82 and a beta of 1.41.

Insider Buying and Selling at Malibu Boats

In other Malibu Boats news, insider Michael K. Hooks purchased 12,500 shares of the business’s stock in a transaction 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 acquisition, the insider now directly owns 12,500 shares of the company’s stock, valued at approximately $535,250. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On Malibu Boats

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP lifted its holdings 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 worth $284,000 after buying an additional 3,608 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Malibu Boats during the first quarter worth $142,000. BNP Paribas Financial Markets lifted its holdings in shares of Malibu Boats by 54.8% during the first quarter. BNP Paribas Financial Markets now owns 19,453 shares of the company’s stock worth $842,000 after buying an additional 6,888 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Malibu Boats by 74.1% during the first quarter. Principal Financial Group Inc. now owns 9,293 shares of the company’s stock worth $402,000 after buying an additional 3,954 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Malibu Boats by 36.5% during the first quarter. Benjamin Edwards Inc. now owns 3,573 shares of the company’s stock worth $155,000 after buying an additional 955 shares in the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

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.