Envestnet Asset Management Inc. trimmed its position in shares of Malibu Boats Inc (NASDAQ:MBUU) by 16.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,269 shares of the company’s stock after selling 2,580 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of Malibu Boats worth $689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. Lord Abbett & CO. LLC lifted its holdings in shares of Malibu Boats by 28.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 2,044,801 shares of the company’s stock valued at $58,869,000 after buying an additional 453,036 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Malibu Boats by 1.7% during the 4th quarter. Macquarie Group Ltd. now owns 1,241,737 shares of the company’s stock valued at $50,849,000 after buying an additional 20,354 shares during the last quarter. Waddell & Reed Financial Inc. lifted its holdings in shares of Malibu Boats by 33.2% during the 1st quarter. Waddell & Reed Financial Inc. now owns 839,833 shares of the company’s stock valued at $24,179,000 after buying an additional 209,099 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in Malibu Boats by 13.8% in the 1st quarter. TimesSquare Capital Management LLC now owns 630,045 shares of the company’s stock worth $18,139,000 after purchasing an additional 76,545 shares during the last quarter. Finally, FDx Advisors Inc. acquired a new stake in Malibu Boats in the 1st quarter worth approximately $758,000.
In other news, Director Mark W. Lanigan sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $45.89, for a total value of $1,147,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter E. Murphy sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $50.67, for a total value of $152,010.00. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
Shares of MBUU opened at $58.78 on Friday. The company has a quick ratio of 1.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.76. Malibu Boats Inc has a 12-month low of $18.02 and a 12-month high of $63.88. The firm has a market capitalization of $1.21 billion, a PE ratio of 15.76 and a beta of 2.12. The stock’s fifty day simple moving average is $52.85 and its 200-day simple moving average is $42.06.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.15. Malibu Boats had a return on equity of 36.85% and a net margin of 10.25%. The business had revenue of $182.31 million for the quarter, compared to analyst estimates of $185.10 million. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. Analysts anticipate that Malibu Boats Inc will post 2.88 EPS for the current year.
Malibu Boats Profile
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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