Malibu Boats (NASDAQ:MBUU) Stock Crosses Below 200 Day Moving Average - Here's What Happened

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report)'s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $38.75 and traded as low as $32.89. Malibu Boats shares last traded at $33.38, with a volume of 164,879 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MBUU shares. Truist Financial increased their price target on shares of Malibu Boats from $34.00 to $38.00 and gave the company a "hold" rating in a report on Friday, January 31st. Benchmark reiterated a "buy" rating and issued a $44.00 target price on shares of Malibu Boats in a report on Tuesday, February 4th. B. Riley raised Malibu Boats to a "hold" rating in a research report on Wednesday, February 12th. StockNews.com downgraded Malibu Boats from a "hold" rating to a "sell" rating in a research report on Monday. Finally, KeyCorp cut their price objective on shares of Malibu Boats from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Malibu Boats presently has an average rating of "Hold" and an average target price of $42.83.

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Malibu Boats Stock Up 1.1 %

The company's 50 day moving average is $36.27 and its 200 day moving average is $38.76. The company has a market cap of $605.54 million, a PE ratio of -7.09 and a beta of 1.33. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its 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 positive return on equity of 1.04% and a negative net margin of 12.09%. As a group, analysts predict that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently made changes to their positions in MBUU. Heck Capital Advisors LLC bought a new position in Malibu Boats during the 4th quarter worth about $38,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Malibu Boats by 17.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 52,636 shares of the company's stock worth $1,979,000 after purchasing an additional 7,925 shares during the period. Tybourne Capital Management HK Ltd. bought a new position in shares of Malibu Boats during the fourth quarter valued at approximately $3,006,000. ProShare Advisors LLC purchased a new position in Malibu Boats during the fourth quarter valued at approximately $207,000. Finally, Janus Henderson Group PLC raised its stake in Malibu Boats by 31.6% in the fourth quarter. Janus Henderson Group PLC now owns 314,079 shares of the company's stock worth $11,807,000 after buying an additional 75,503 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company's stock.

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.