Malibu Boats (NASDAQ:MBUU) Lowered to “Sell” at StockNews.com

Malibu Boats (NASDAQ:MBUU) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

A number of other brokerages have also commented on MBUU. Truist Financial reiterated a “hold” rating and issued a $32.00 price target on shares of Malibu Boats in a research note on Monday, July 8th. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Wednesday, July 24th. KeyCorp lowered their price target on Malibu Boats from $50.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. B. Riley cut their price objective on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Benchmark started coverage on Malibu Boats in a research report on Wednesday, May 22nd. They set a “buy” rating and a $44.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Malibu Boats presently has a consensus rating of “Hold” and an average price target of $40.00.

Malibu Boats Stock Up 4.7 %

NASDAQ:MBUU traded up $1.62 during trading hours on Friday, reaching $36.37. 302,890 shares of the company traded hands, compared to its average volume of 263,075. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $35.17 and its two-hundred day moving average price is $37.54. Malibu Boats has a 1 year low of $30.20 and a 1 year high of $56.03. The stock has a market capitalization of $743.40 million, a P/E ratio of -13.62 and a beta of 1.40.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors and hedge funds have recently bought and sold shares of MBUU. Pzena Investment Management LLC purchased a new stake in Malibu Boats in the 2nd quarter worth $51,800,000. Dimensional Fund Advisors LP grew its position in shares of Malibu Boats by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock valued at $39,661,000 after purchasing an additional 111,699 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Malibu Boats by 94.4% in the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after purchasing an additional 409,574 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Malibu Boats by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 435,541 shares of the company’s stock worth $23,876,000 after buying an additional 7,844 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in Malibu Boats by 231.4% during the first quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock valued at $13,535,000 after buying an additional 218,378 shares during the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

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.