The stock is trading at $31.71 which is just a bit higher than the 50 day moving average which is $30.12 and impressively higher than the 200 day moving average of $26.47. The 50 day moving average moved up $1.59 and the 200 day average went up $5.24 or +19.82%. (NASDAQ:MBUU) shares saw light trading volume with 89K shares changing hands on Tuesday. Shares saw a steep decrease in trading volume of 21.87% under the normal average daily volume.
Short traders are feeling a little more bearish on the company recently if you put credence in the change in short interest. The firm recorded a rise in short interest from September 15, 2017 to September 29, 2017 of 7.92%. Short interest grew from 1,971,799 to 2,127,977 over that timeframe. The days to cover increased to 9.0 and the short interest percentage is 0.12% as of September 29.
The following firms have recently changed their position in MBUU. As of quarter end Two Sigma Advisers, Lp had acquired a total of 10,040 shares growing its position 12.6%. The value of the total investment in Malibu Boats, Inc. increased from $1,792,000 to $2,325,000 increasing 29.7% quarter over quarter. As of the end of the quarter Nbw Capital LLC had sold 1,877 shares trimming its stake by 1.0%. The value in dollars went from $4,334,000 to $4,945,000 a change of 14.1% for the reporting period.
Ubs Group Ag added to its ownership by buying 1,298 shares an increase of 244.9% as of 06/30/2017. Ubs Group Ag now holds 1,828 shares worth $47,000. The total value of its holdings increased 291.7%. Bowling Portfolio Management LLC downsized its position by shedding 10,646 shares a decrease of 18.5%. Bowling Portfolio Management LLC controls 46,968 shares with a value of $1,486,000. The value of the position overall is down by 0.3%.
On August 28 the stock rating was downgraded from “Buy” to “Neutral” by analysts at B. Riley. On September 11 the company was upgraded to “Outperform” from “Market Perform” and a price target of $32.00 was set in an announcement from BMO Capital.
Malibu Boats, Inc.’s P/E ratio is 20.07 and the market cap is 643.30M. As of the last earnings report the EPS was $1.58 and is expected to be $1.88 for the current year with 20,287,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.47 with next year’s EPS projected to be $2.12.
Malibu Boats, Inc., launched on November 1, 2013, is a designer, manufacturer and marketer of performance sport boats. The Business’s segments include the U.S. and Australia. Each segment is involved in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia. Its Australia segment serves the Australian and New Zealand markets. The Business’s boats are used for water sports, including water skiing, wakeboarding and wake surfing, as well as general recreational boating..