BidaskClub Lowers MCBC Holdings, Inc. (MCFT) to Hold
MCBC Holdings, Inc. (NASDAQ:MCFT) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Sunday.
MCFT has been the topic of a number of other reports. Zacks Investment Research lowered shares of MCBC Holdings from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 12th. B. Riley restated a “buy” rating and issued a $21.00 price objective on shares of MCBC Holdings in a research note on Saturday, July 1st. Finally, ValuEngine upgraded shares of MCBC Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th.
Shares of MCBC Holdings (MCFT) opened at 18.44 on Friday. MCBC Holdings has a 12-month low of $10.44 and a 12-month high of $20.22. The firm has a 50-day moving average of $19.28 and a 200 day moving average of $16.90. The stock has a market capitalization of $343.68 million, a price-to-earnings ratio of 19.07 and a beta of 1.18.
MCBC Holdings (NASDAQ:MCFT) last posted its quarterly earnings data on Thursday, May 11th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $58.50 million during the quarter, compared to analyst estimates of $59.91 million. MCBC Holdings had a net margin of 8.06% and a negative return on equity of 4,067.61%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Equities analysts forecast that MCBC Holdings will post $1.28 earnings per share for the current fiscal year.
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In other news, CFO Timothy M. Oxley sold 7,500 shares of MCBC Holdings stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $18.84, for a total value of $141,300.00. Following the sale, the chief financial officer now owns 75,302 shares of the company’s stock, valued at $1,418,689.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Terry D. Mcnew sold 5,000 shares of MCBC Holdings stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $18.84, for a total transaction of $94,200.00. Following the completion of the sale, the insider now directly owns 304,882 shares in the company, valued at approximately $5,743,976.88. The disclosure for this sale can be found here. 54.90% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in shares of MCBC Holdings during the fourth quarter valued at $208,000. Teachers Advisors LLC increased its stake in shares of MCBC Holdings by 158.6% in the fourth quarter. Teachers Advisors LLC now owns 50,241 shares of the company’s stock valued at $733,000 after buying an additional 30,815 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of MCBC Holdings by 55.5% in the first quarter. Acadian Asset Management LLC now owns 69,764 shares of the company’s stock valued at $1,129,000 after buying an additional 24,889 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of MCBC Holdings during the first quarter valued at $170,000. Finally, Monarch Partners Asset Management LLC purchased a new stake in shares of MCBC Holdings during the first quarter valued at $488,000. 92.24% of the stock is currently owned by institutional investors and hedge funds.
About MCBC Holdings
MCBC Holdings, Inc (MCBC) is a holding company. The Company is a designer and manufacturer of inboard tournament ski boats and V-drive runabouts under the MasterCraft brand. The Company operates through two segments: MasterCraft and Hydra-Sports. The MasterCraft product brand consists of recreational performance boats primarily used for water skiing, wakeboarding and wake surfing, and general recreational boating.
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