Malibu Boats, Inc. (NASDAQ:MBUU) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in Malibu Boats, Inc. (NASDAQ:MBUU - Free Report) by 76.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,410 shares of the company's stock after selling 70,856 shares during the quarter. Envestnet Asset Management Inc. owned about 0.11% of Malibu Boats worth $805,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Heck Capital Advisors LLC acquired a new position in Malibu Boats in the fourth quarter worth about $38,000. Central Pacific Bank Trust Division lifted its stake 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 purchasing an additional 368 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Malibu Boats during the fourth quarter valued at $150,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Malibu Boats during the fourth quarter worth $235,000. Finally, Vestcor Inc lifted its position in shares of Malibu Boats by 317.0% in the 4th quarter. Vestcor Inc now owns 6,410 shares of the company's stock worth $241,000 after buying an additional 4,873 shares during the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MBUU shares. Robert W. Baird reaffirmed a "neutral" rating and set a $32.00 price objective (down previously from $50.00) on shares of Malibu Boats in a research report on Friday, April 4th. Baird R W downgraded Malibu Boats from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Truist Financial cut their target price 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 upgraded shares of Malibu Boats to a "hold" rating in a research report on Wednesday, February 12th. Finally, KeyCorp downgraded shares of Malibu Boats from an "overweight" rating to a "sector weight" rating in a research report on Thursday, March 20th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $38.17.

Malibu Boats Stock Performance

Shares of NASDAQ MBUU traded down $1.54 during midday trading on Thursday, reaching $28.22. 20,603 shares of the company traded hands, compared to its average volume of 197,078. The company has a market cap of $554.10 million, a price-to-earnings ratio of -6.49 and a beta of 1.23. The stock has a 50-day moving average price of $29.27 and a 200 day moving average price of $35.80. Malibu Boats, Inc. has a 52 week low of $24.42 and a 52 week high of $47.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45.

Malibu Boats 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.