MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Major Shareholder Purchases $1,310,400.00 in Stock

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L bought 60,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was purchased at an average price of $21.84 per share, for a total transaction of $1,310,400.00. Following the completion of the transaction, the insider now directly owns 2,224,284 shares of the company’s stock, valued at approximately $48,578,362.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, April 10th, Coliseum Capital Management, L acquired 11,308 shares of MasterCraft Boat stock. The stock was purchased at an average cost of $21.63 per share, for a total transaction of $244,592.04.
• On Monday, March 18th, Coliseum Capital Management, L bought 118,620 shares of MasterCraft Boat stock. The stock was acquired 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 purchased 24,167 shares of MasterCraft Boat stock. The shares were acquired at an average cost of $20.72 per share, for a total transaction of $500,740.24.

MasterCraft Boat Stock Performance

NASDAQ:MCFT opened at $21.93 on Friday. The firm has a market capitalization of $373.47 million, a PE ratio of 6.71 and a beta of 1.64. The stock’s fifty day moving average is $22.00 and its 200 day moving average is $21.62. MasterCraft Boat Holdings, Inc. has a fifty-two week low of $19.22 and a fifty-two week high of $31.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.58 and a current ratio of 2.11.

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

Analyst Upgrades and Downgrades

Separately, Truist Financial lifted their price objective on shares of MasterCraft Boat from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Tuesday, January 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, MasterCraft Boat presently has a consensus rating of “Hold” and an average price target of $24.83.

Institutional Trading of MasterCraft Boat

Several institutional investors have recently added to or reduced their stakes in MCFT. Tower Research Capital LLC TRC raised its holdings in shares of MasterCraft Boat by 143.8% in the first quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock worth $25,000 after buying an additional 489 shares during the period. Carmel Capital Partners LLC bought a new position in MasterCraft Boat in the 3rd quarter valued at $28,000. Group One Trading L.P. increased its stake in MasterCraft Boat by 55.9% in the first quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares during the period. Meeder Asset Management Inc. lifted its position in shares of MasterCraft Boat by 44.7% during the fourth quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock worth $37,000 after purchasing an additional 443 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of MasterCraft Boat during the first quarter valued at $41,000. Institutional investors own 97.64% of the company’s stock.

MasterCraft Boat Company Profile

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.