Malibu Boats (NASDAQ:MBUU) Stock Price Down 9.6%

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price was down 9.6% during trading on Wednesday . The stock traded as low as $33.86 and last traded at $33.90. Approximately 347,453 shares changed hands during mid-day trading, an increase of 30% from the average daily volume of 268,103 shares. The stock had previously closed at $37.50.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Benchmark initiated coverage on Malibu Boats in a research report on Wednesday, May 22nd. They set a “buy” rating and a $44.00 target price on the stock. StockNews.com cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. Robert W. Baird dropped their target price on shares of Malibu Boats from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. B. Riley decreased their target price on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, KeyCorp reduced their price target on shares of Malibu Boats from $50.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Malibu Boats currently has a consensus rating of “Hold” and a consensus price target of $40.00.

Malibu Boats Stock Down 12.1 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 1.67. The company has a fifty day moving average of $35.66 and a two-hundred day moving average of $40.09. The company has a market cap of $673.91 million, a PE ratio of -12.35 and a beta of 1.40.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, May 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.14. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. The firm had revenue of $203.42 million during the quarter, compared to analyst estimates of $205.83 million. As a group, analysts anticipate that Malibu Boats, Inc. will post 1.82 earnings per share for the current fiscal year.

Insider Transactions at Malibu Boats

In other Malibu Boats news, Director Mark W. Lanigan acquired 20,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were bought at an average price of $33.43 per share, with a total value of $668,600.00. Following the transaction, the director now directly owns 73,368 shares of the company’s stock, valued at approximately $2,452,692.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On Malibu Boats

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in Malibu Boats in the fourth quarter worth approximately $48,000. EntryPoint Capital LLC purchased a new stake in shares of Malibu Boats in the 1st quarter worth approximately $84,000. SG Americas Securities LLC bought a new position in shares of Malibu Boats during the second quarter valued at approximately $139,000. Central Pacific Bank Trust Division purchased a new position in Malibu Boats during the first quarter valued at approximately $142,000. Finally, Benjamin Edwards Inc. raised its position in shares of Malibu Boats by 13.8% in the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock worth $144,000 after acquiring an additional 318 shares in the last quarter. 91.35% of the stock is 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.