MCBC (MCFT) Shares Down 17.7%

MCBC Holdings Inc (NASDAQ:MCFT) traded down 17.7% on Friday . The company traded as low as $25.88 and last traded at $27.66. 1,278,590 shares traded hands during trading, an increase of 607% from the average session volume of 180,893 shares. The stock had previously closed at $33.61.

A number of equities research analysts have weighed in on the company. Zacks Investment Research raised MCBC from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Wednesday, September 19th. Wells Fargo & Co boosted their target price on MCBC from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. They noted that the move was a valuation call. B. Riley boosted their target price on MCBC from $36.50 to $44.00 and gave the stock a “buy” rating in a report on Monday, September 17th. Raymond James boosted their target price on MCBC from $36.00 to $44.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 20th. Finally, Robert W. Baird boosted their target price on MCBC from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, September 11th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. MCBC presently has an average rating of “Buy” and an average target price of $40.33.

The firm has a market capitalization of $612.54 million, a P/E ratio of 13.63, a P/E/G ratio of 0.83 and a beta of 1.31. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.73 and a quick ratio of 0.33.

MCBC (NASDAQ:MCFT) last announced its earnings results on Thursday, November 8th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $93.60 million for the quarter, compared to the consensus estimate of $90.93 million. MCBC had a return on equity of 108.42% and a net margin of 11.92%. MCBC’s revenue was up 44.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 EPS. Equities research analysts anticipate that MCBC Holdings Inc will post 2.62 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in MCBC by 308.6% in the 1st quarter. JPMorgan Chase & Co. now owns 16,217 shares of the company’s stock worth $408,000 after buying an additional 12,248 shares during the period. Dimensional Fund Advisors LP increased its holdings in MCBC by 212.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 297,377 shares of the company’s stock worth $7,494,000 after buying an additional 202,284 shares during the period. Russell Investments Group Ltd. increased its holdings in MCBC by 325.9% in the 1st quarter. Russell Investments Group Ltd. now owns 19,852 shares of the company’s stock worth $500,000 after buying an additional 15,191 shares during the period. Millennium Management LLC increased its holdings in MCBC by 186.9% in the 1st quarter. Millennium Management LLC now owns 393,045 shares of the company’s stock worth $9,905,000 after buying an additional 256,038 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in MCBC by 40.4% in the 1st quarter. Allianz Asset Management GmbH now owns 266,563 shares of the company’s stock worth $6,717,000 after buying an additional 76,649 shares during the period. 95.01% of the stock is currently owned by institutional investors and hedge funds.

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About MCBC (NASDAQ:MCFT)

MCBC Holdings, Inc, through its subsidiaries, innovates, designs, manufactures, and markets sport boats and outboard boats in North America and internationally. The company's boats are used for water skiing, wakeboarding, wake surfing, and fishing, as well as general recreational boating. It also provides various accessories, such as trailers and aftermarket parts.

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