MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Major Shareholder Buys $2,228,397.23 in Stock

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L purchased 107,083 shares of MasterCraft Boat stock in a transaction that occurred on Thursday, April 18th. The shares were bought at an average price of $20.81 per share, with a total value of $2,228,397.23. Following the transaction, the insider now owns 2,331,367 shares in the company, valued at $48,515,747.27. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Coliseum Capital Management, L also recently made the following trade(s):

• On Monday, April 22nd, Coliseum Capital Management, L acquired 26,039 shares of MasterCraft Boat stock. The shares were acquired at an average cost of $21.34 per share, with a total value of $555,672.26.
• On Friday, April 12th, Coliseum Capital Management, L purchased 60,000 shares of MasterCraft Boat stock. The stock was purchased at an average cost of $21.84 per share, with a total value of $1,310,400.00.
• On Wednesday, April 10th, Coliseum Capital Management, L acquired 11,308 shares of MasterCraft Boat stock. The shares were bought at an average cost of $21.63 per share, with a total value of $244,592.04.
• On Monday, March 18th, Coliseum Capital Management, L acquired 118,620 shares of MasterCraft Boat stock. The shares were bought at an average cost of $21.84 per share, with a total value of $2,590,660.80.
• On Thursday, March 14th, Coliseum Capital Management, L bought 24,167 shares of MasterCraft Boat stock. The shares were acquired at an average price of $20.72 per share, for a total transaction of $500,740.24.

MasterCraft Boat Price Performance

Shares of MCFT opened at $21.31 on Thursday. MasterCraft Boat Holdings, Inc. has a twelve month low of $19.22 and a twelve month high of $31.70. The firm’s fifty day simple moving average is $22.00 and its 200-day simple moving average is $21.57. The firm has a market capitalization of $362.99 million, a price-to-earnings ratio of 6.49 and a beta of 1.64. The company has a current ratio of 2.11, a quick ratio of 1.58 and a debt-to-equity ratio of 0.24.

MasterCraft Boat (NASDAQ:MCFT) last posted its earnings results on Wednesday, February 7th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.17. The firm had revenue of $99.48 million for the quarter, compared to the consensus estimate of $95.53 million. MasterCraft Boat had a net margin of 10.66% and a return on equity of 32.01%. The company’s revenue was down 37.5% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. Equities analysts forecast that MasterCraft Boat Holdings, Inc. will post 1.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on MCFT. B. Riley reduced their target price on shares of MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Truist Financial raised their price objective on shares of MasterCraft Boat from $20.00 to $22.00 and gave the company a “hold” rating in a report on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $24.67.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Carmel Capital Partners LLC purchased a new position in shares of MasterCraft Boat in the 3rd quarter valued at $28,000. DekaBank Deutsche Girozentrale purchased a new position in shares of MasterCraft Boat in the 3rd quarter valued at $86,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MasterCraft Boat by 41.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,486 shares of the company’s stock valued at $102,000 after buying an additional 1,306 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of MasterCraft Boat in the 3rd quarter valued at $116,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of MasterCraft Boat by 60.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,198 shares of the company’s stock valued at $160,000 after buying an additional 2,703 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.