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

Malibu Boats, Inc. (NASDAQ:MBUU)’s share price 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 changing hands.

Analyst Ratings Changes

MBUU has been the subject of several research analyst reports. Griffin Securities set a $30.00 target price on shares of Malibu Boats in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Malibu Boats in a report on Friday, March 27th. Wall Street Zen cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Zacks Research upgraded shares of Malibu Boats from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Loop Capital initiated coverage on shares of Malibu Boats in a research note on Monday, December 22nd. They set a “buy” rating and a $34.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $32.40.

Malibu Boats Stock Performance

The stock has a market cap of $449.26 million, a price-to-earnings ratio of 33.08 and a beta of 1.22. The stock’s 50 day moving average is $28.49 and its two-hundred day moving average is $29.42. The company has a current ratio of 1.56, a quick ratio of 0.49 and a debt-to-equity ratio of 0.04.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $188.62 million during the quarter, compared to analysts’ expectations of $181.96 million. Malibu Boats had a net margin of 1.76% and a return on equity of 4.25%. Malibu Boats’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. Analysts anticipate that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

Malibu Boats announced that its board has approved a stock buyback program on Friday, December 19th that permits the company to repurchase $70.00 million in shares. This repurchase authorization permits the company to buy up to 12.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Malibu Boats

Several hedge funds have recently made changes to their positions in the company. Pzena Investment Management LLC lifted its stake in shares of Malibu Boats by 2.5% in the 4th quarter. Pzena Investment Management LLC now owns 1,721,957 shares of the company’s stock worth $48,576,000 after acquiring an additional 41,713 shares during the period. Wellington Management Group LLP lifted its stake in shares of Malibu Boats by 27.1% in the 4th quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock worth $47,621,000 after acquiring an additional 359,550 shares during the period. Cooke & Bieler LP lifted its stake in shares of Malibu Boats by 1.5% in the 4th quarter. Cooke & Bieler LP now owns 1,567,404 shares of the company’s stock worth $44,216,000 after acquiring an additional 23,313 shares during the period. Twin Lions Management LLC lifted its stake in shares of Malibu Boats by 8.2% in the 4th quarter. Twin Lions Management LLC now owns 1,138,053 shares of the company’s stock worth $32,104,000 after acquiring an additional 85,951 shares during the period. Finally, Lodge Hill Capital LLC lifted its stake in shares of Malibu Boats by 12.7% in the 3rd quarter. Lodge Hill Capital LLC now owns 885,014 shares of the company’s stock worth $28,719,000 after acquiring an additional 100,000 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

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.