Malibu Boats (NASDAQ:MBUU) Shares Gap Up - Here's What Happened

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $29.33, but opened at $30.57. Malibu Boats shares last traded at $30.2470, with a volume of 58,922 shares changing hands.Analysts Set New Price TargetsSeveral equities research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of Malibu Boats from $30.00 to $37.00 and gave the stock a "hold" rating in a report on Tuesday, October 28th. Zacks Research cut Malibu Boats from a "hold" rating to a "strong sell" rating in a report on Friday, November 28th. DA Davidson dropped their price objective on shares of Malibu Boats from $33.00 to $31.00 and set a "neutral" rating on the stock in a report on Monday, September 8th. B. Riley decreased their target price on Malibu Boats from $33.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, November 25th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Malibu Boats in a research report on Monday. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $36.50.Get Our Latest Stock Analysis on Malibu BoatsMalibu Boats Price PerformanceThe company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 1.63. The company has a market cap of $569.88 million, a P/E ratio of 30.26 and a beta of 1.20. The firm's fifty day moving average is $28.70 and its two-hundred day moving average is $31.77. Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. The business had revenue of $194.73 million for the quarter, compared to the consensus estimate of $182.09 million. Malibu Boats had a return on equity of 5.28% and a net margin of 2.31%.The business's revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 earnings per share. As a group, analysts anticipate that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year. Institutional Investors Weigh In On Malibu BoatsA number of institutional investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC lifted its holdings in shares of Malibu Boats by 51.2% in the third quarter. Verition Fund Management LLC now owns 12,384 shares of the company's stock worth $402,000 after buying an additional 4,194 shares in the last quarter. Millennium Management LLC purchased a new stake in Malibu Boats in the 3rd quarter worth $211,000. Dean Capital Management boosted its holdings in shares of Malibu Boats by 107.4% during the 3rd quarter. Dean Capital Management now owns 100,285 shares of the company's stock valued at $3,254,000 after purchasing an additional 51,927 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Malibu Boats by 37.2% during the third quarter. Ameriprise Financial Inc. now owns 310,388 shares of the company's stock valued at $10,072,000 after purchasing an additional 84,146 shares in the last quarter. Finally, Creative Planning grew its position in shares of Malibu Boats by 45.1% during the third quarter. Creative Planning now owns 13,740 shares of the company's stock valued at $446,000 after purchasing an additional 4,269 shares in the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors. About Malibu Boats (Get Free Report)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.Read MoreFive stocks we like better than Malibu BoatsCD Calculator: Certificate of Deposit Calculator 4 High-Potential ETFs for 2026: Small Caps, Space Stocks, and MoreWhat is a penny stock? 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MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Malibu Boats wasn't on the list.While Malibu Boats currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here