Envestnet Asset Management Inc. Sells 70,856 Shares of Malibu Boats, Inc. (NASDAQ:MBUU)

Envestnet Asset Management Inc. lowered its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 76.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,410 shares of the company’s stock after selling 70,856 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.11% of Malibu Boats worth $805,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MBUU. Heck Capital Advisors LLC bought a new stake in shares of Malibu Boats in the 4th quarter valued at about $38,000. Central Pacific Bank Trust Division increased its position in Malibu Boats by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after buying an additional 368 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Malibu Boats during the fourth quarter worth approximately $150,000. Arrowstreet Capital Limited Partnership bought a new stake in Malibu Boats in the fourth quarter valued at approximately $235,000. Finally, Vestcor Inc lifted its position in shares of Malibu Boats by 317.0% in the fourth quarter. Vestcor Inc now owns 6,410 shares of the company’s stock valued at $241,000 after buying an additional 4,873 shares during the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Wall Street Analyst Weigh In

MBUU has been the topic of a number of research analyst reports. Truist Financial dropped their price target on Malibu Boats from $38.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. B. Riley raised shares of Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. Baird R W lowered shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. KeyCorp downgraded shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a research report on Thursday, March 20th. Finally, DA Davidson raised Malibu Boats to a “hold” rating in a research report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $38.17.

Malibu Boats Price Performance

Shares of Malibu Boats stock opened at $29.92 on Friday. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $587.48 million, a price-to-earnings ratio of -6.88 and a beta of 1.23. Malibu Boats, Inc. has a twelve month low of $24.43 and a twelve month high of $47.82. The company has a 50-day simple moving average of $29.52 and a two-hundred day simple moving average of $36.08.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. Analysts forecast that Malibu Boats, Inc. will post 1.69 EPS for the current year.

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.