MasterCraft Boat (NASDAQ:MCFT) Raised to “Hold” at StockNews.com

MasterCraft Boat (NASDAQ:MCFT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

MCFT has been the topic of several other research reports. DA Davidson decreased their target price on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. B. Riley raised MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. Finally, Truist Financial decreased their target price on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, MasterCraft Boat presently has a consensus rating of “Hold” and an average price target of $20.50.

MasterCraft Boat Price Performance

Shares of NASDAQ:MCFT opened at $17.36 on Friday. MasterCraft Boat has a 1-year low of $16.12 and a 1-year high of $24.05. The business has a fifty day moving average price of $18.31 and a 200-day moving average price of $18.63. The company has a market capitalization of $290.83 million, a PE ratio of -43.40 and a beta of 1.71.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. On average, sell-side analysts anticipate that MasterCraft Boat will post 0.62 earnings per share for the current fiscal year.

Insider Transactions at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L bought 55,000 shares of MasterCraft Boat stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average cost of $18.83 per share, with a total value of $1,035,650.00. Following the transaction, the insider now directly owns 3,562,615 shares of the company’s stock, valued at approximately $67,084,040.45. This represents a 1.57 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC increased its position in MasterCraft Boat by 144.1% during the 4th quarter. Squarepoint Ops LLC now owns 14,534 shares of the company’s stock valued at $277,000 after buying an additional 47,510 shares in the last quarter. State of Wyoming acquired a new position in MasterCraft Boat during the 4th quarter valued at about $108,000. Systematic Financial Management LP increased its position in MasterCraft Boat by 4.2% during the 4th quarter. Systematic Financial Management LP now owns 1,071,424 shares of the company’s stock valued at $20,432,000 after buying an additional 42,839 shares in the last quarter. Coliseum Capital Management LLC grew its stake in MasterCraft Boat by 5.6% during the 4th quarter. Coliseum Capital Management LLC now owns 3,562,615 shares of the company’s stock valued at $67,939,000 after purchasing an additional 189,945 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in MasterCraft Boat by 3.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 133,256 shares of the company’s stock valued at $2,541,000 after purchasing an additional 3,893 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

About MasterCraft Boat

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through MasterCraft, Crest, and Aviara segments. The MasterCraft segment produces premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating.