Malibu Boats (NASDAQ:MBUU) Stock Price Down 4.2% - Should You Sell?

Key Points

• Malibu Boats shares fell 4.2% to about $28.23 in low-volume trading, below the $31.60 consensus analyst price target.
• Analyst sentiment is mostly cautious: four analysts rate the stock Hold, one rates it Buy, and one rates it Sell, producing a consensus Hold rating.
• Institutional investors own a substantial 91.35% of outstanding shares, while the company reports a 0.32 debt-to-equity ratio and a 1.31 current ratio.

Shares of Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) were down 4.2% on Tuesday . The company traded as low as $28.44 and last traded at $28.2330. 55,820 shares traded hands during trading, a decline of 80% from the average daily volume of 283,016 shares. The stock had previously closed at $29.47.

Wall Street Analyst Weigh In

A number of research firms recently commented on MBUU. DA Davidson reissued a "neutral" rating and set a $30.00 target price on shares of Malibu Boats in a research report on Monday, June 15th. Zacks Research cut Malibu Boats from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Malibu Boats in a research report on Friday, August 7th. Truist Financial increased their price target on Malibu Boats from $31.00 to $34.00 and gave the company a "hold" rating in a research note on Monday, July 6th. Finally, Wall Street Zen raised Malibu Boats from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Malibu Boats currently has a consensus rating of "Hold" and a consensus target price of $31.60.

Malibu Boats Price Performance

The firm has a market capitalization of $558.17 million, a price-to-earnings ratio of -473.08 and a beta of 1.13. The stock's 50-day moving average price is $27.88 and its 200 day moving average price is $27.52. The company has a quick ratio of 0.44, a current ratio of 1.31 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Intesa Sanpaolo Wealth Management acquired a new position in shares of Malibu Boats during the 4th quarter worth about $31,000. Public Employees Retirement System of Ohio purchased a new position in shares of Malibu Boats during the second quarter worth approximately $35,000. BNP Paribas Financial Markets boosted its stake in Malibu Boats by 43.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company's stock worth $67,000 after purchasing an additional 643 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Malibu Boats by 346.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company's stock worth $73,000 after buying an additional 1,801 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Malibu Boats by 108.5% in the fourth quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company's stock valued at $93,000 after purchasing an additional 1,718 shares during the period. 91.35% of the stock is owned by institutional investors and hedge funds.

About Malibu Boats

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.

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