Tower Research Capital LLC TRC Acquires 4,487 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Tower Research Capital LLC TRC grew its holdings in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 260.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,210 shares of the company’s stock after buying an additional 4,487 shares during the period. Tower Research Capital LLC TRC’s holdings in MasterCraft Boat were worth $118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers increased its position in MasterCraft Boat by 2.0% during the 4th quarter. Rhumbline Advisers now owns 27,432 shares of the company’s stock valued at $523,000 after purchasing an additional 528 shares during the period. JPMorgan Chase & Co. increased its position in shares of MasterCraft Boat by 7.5% during the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock valued at $149,000 after buying an additional 544 shares during the period. SG Americas Securities LLC raised its stake in MasterCraft Boat by 10.7% in the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock worth $146,000 after buying an additional 742 shares in the last quarter. Isthmus Partners LLC lifted its holdings in MasterCraft Boat by 0.7% in the fourth quarter. Isthmus Partners LLC now owns 118,886 shares of the company’s stock worth $2,267,000 after buying an additional 773 shares during the period. Finally, Principal Financial Group Inc. boosted its position in MasterCraft Boat by 9.4% during the 4th quarter. Principal Financial Group Inc. now owns 11,502 shares of the company’s stock valued at $219,000 after acquiring an additional 993 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

MCFT has been the subject of a number of research analyst reports. Baird R W cut MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Robert W. Baird restated a “neutral” rating and set a $20.00 target price (down previously from $26.00) on shares of MasterCraft Boat in a report on Friday, April 4th. B. Riley upgraded shares of MasterCraft Boat to a “hold” rating in a research note on Wednesday, February 12th. Truist Financial boosted their price objective on shares of MasterCraft Boat from $16.00 to $17.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, DA Davidson decreased their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.00.

MasterCraft Boat Stock Down 0.7 %

NASDAQ:MCFT opened at $17.52 on Friday. The stock has a market cap of $293.43 million, a price-to-earnings ratio of -43.79 and a beta of 1.12. The company’s 50 day moving average price is $16.69 and its 200-day moving average price is $18.29. MasterCraft Boat Holdings, Inc. has a 52 week low of $14.39 and a 52 week high of $23.00.

MasterCraft Boat (NASDAQ:MCFT) last posted its earnings results on Wednesday, May 7th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. The business had revenue of $75.96 million during the quarter, compared to analyst estimates of $75.15 million. During the same quarter last year, the company earned $0.37 EPS. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that MasterCraft Boat Holdings, Inc. will post 0.62 earnings per share for the current year.

Insider Buying and Selling at MasterCraft Boat

In related news, major shareholder Fund L.P. Forager acquired 32,378 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average price of $16.66 per share, for a total transaction of $539,417.48. Following the completion of the transaction, the insider now directly owns 1,802,975 shares in the company, valued at approximately $30,037,563.50. This trade represents a 1.83 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have purchased 77,420 shares of company stock worth $1,261,191. Company insiders own 4.00% of the company’s stock.

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.