Malibu Boats (NASDAQ:MBUU) Sets New 1-Year Low - Here's What Happened

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report)'s share price hit a new 52-week low on Monday . The company traded as low as $29.00 and last traded at $29.38, with a volume of 8002 shares. The stock had previously closed at $29.57.

Wall Street Analyst Weigh In

MBUU has been the topic of several research analyst reports. Truist Financial raised their price objective on shares of Malibu Boats from $34.00 to $38.00 and gave the stock a "hold" rating in a research note on Friday, January 31st. B. Riley upgraded shares of Malibu Boats to a "hold" rating in a research note on Wednesday, February 12th. KeyCorp cut Malibu Boats from an "overweight" rating to a "sector weight" rating in a report on Thursday, March 20th. StockNews.com upgraded shares of Malibu Boats from a "sell" rating to a "hold" rating in a research report on Tuesday, March 11th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $32.00 price target (down previously from $50.00) on shares of Malibu Boats in a report on Friday. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $39.83.

Malibu Boats Stock Performance

The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $33.90 and a two-hundred day moving average price of $37.96. The stock has a market capitalization of $559.79 million, a P/E ratio of -6.55 and a beta of 1.42.

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Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. On average, equities analysts forecast that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of Malibu Boats by 8.2% in the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company's stock valued at $22,361,000 after acquiring an additional 43,769 shares during the period. Meros Investment Management LP bought a new stake in Malibu Boats in the 3rd quarter worth $4,117,000. Barclays PLC increased its stake in shares of Malibu Boats by 92.6% during the third quarter. Barclays PLC now owns 46,919 shares of the company's stock valued at $1,820,000 after buying an additional 22,556 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Malibu Boats by 6.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 121,711 shares of the company's stock worth $4,575,000 after buying an additional 7,186 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Malibu Boats by 370.5% during the fourth quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company's stock valued at $16,571,000 after buying an additional 347,144 shares during the period. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

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.