Malibu Boats, Inc. (NASDAQ:MBUU) Stock Position Increased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in Malibu Boats, Inc. (NASDAQ:MBUU) by 5.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,880 shares of the company’s stock after purchasing an additional 3,288 shares during the period. Envestnet Asset Management Inc. owned approximately 0.31% of Malibu Boats worth $2,238,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MBUU. The Manufacturers Life Insurance Company grew its holdings in Malibu Boats by 1.8% in the 4th 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. CastleKnight Management LP bought a new position in shares of Malibu Boats in the fourth quarter worth $978,000. Dean Capital Management increased its holdings in shares of Malibu Boats by 156.6% during the fourth quarter. Dean Capital Management now owns 11,965 shares of the company’s stock valued at $656,000 after purchasing an additional 7,303 shares during the period. Cim LLC bought a new stake in shares of Malibu Boats during the fourth quarter valued at about $353,000. Finally, Wellington Management Group LLP lifted its holdings in Malibu Boats by 315.0% in the fourth quarter. Wellington Management Group LLP now owns 64,741 shares of the company’s stock worth $3,549,000 after purchasing an additional 49,141 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Stock Down 0.7 %

Shares of Malibu Boats stock opened at $39.70 on Friday. Malibu Boats, Inc. has a 12-month low of $30.20 and a 12-month high of $56.03. The firm has a market capitalization of $811.47 million, a PE ratio of -14.87 and a beta of 1.38. The stock’s fifty day moving average is $36.68 and its 200-day moving average is $36.65.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, August 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The company had revenue of $158.70 million during the quarter, compared to analysts’ expectations of $157.54 million. During the same period in the prior year, the business posted $2.96 EPS. The company’s revenue for the quarter was down 57.4% compared to the same quarter last year. Analysts expect that Malibu Boats, Inc. will post 1.98 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on MBUU shares. B. Riley lowered their target price on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Truist Financial reissued a “hold” rating and set a $32.00 target price on shares of Malibu Boats in a report on Monday, July 8th. DA Davidson reaffirmed a “buy” rating and set a $45.00 price target on shares of Malibu Boats in a research note on Tuesday, September 10th. Finally, StockNews.com cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Malibu Boats currently has an average rating of “Hold” and an average target price of $40.00.

Malibu Boats Company Profile

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.