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

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

Several other equities analysts have also recently issued reports on MBUU. Raymond James cut shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Monday, April 15th. Truist Financial lowered their price objective on shares of Malibu Boats from $52.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday. Robert W. Baird decreased 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. KeyCorp decreased their target price on shares of Malibu Boats from $50.00 to $38.00 and set an “overweight” rating for the company in a report on Friday. Finally, 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 report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Malibu Boats has a consensus rating of “Hold” and a consensus target price of $43.00.

Malibu Boats Price Performance

Shares of MBUU traded up $1.60 during mid-day trading on Monday, hitting $34.24. The company’s stock had a trading volume of 405,079 shares, compared to its average volume of 280,746. The firm has a 50-day moving average price of $39.25 and a 200 day moving average price of $45.00. The stock has a market capitalization of $699.87 million, a price-to-earnings ratio of -12.82 and a beta of 1.41. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.67 and a quick ratio of 0.66. Malibu Boats has a fifty-two week low of $31.47 and a fifty-two week high of $62.36.

Insider Buying and Selling

In related news, insider Michael K. Hooks purchased 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the acquisition, the insider now owns 12,500 shares in the company, valued at approximately $535,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.62% of the stock is currently owned by corporate insiders.

Institutional Trading of Malibu Boats

Several institutional investors have recently made changes to their positions in MBUU. International Assets Investment Management LLC acquired a new stake in shares of Malibu Boats during the fourth quarter worth approximately $48,000. Central Pacific Bank Trust Division acquired a new stake in Malibu Boats in the first quarter valued at approximately $142,000. Benjamin Edwards Inc. lifted its stake in Malibu Boats by 13.8% in the fourth quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after acquiring an additional 318 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Malibu Boats by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock valued at $194,000 after acquiring an additional 386 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Malibu Boats in the third quarter valued at approximately $203,000. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.