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

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L purchased 107,083 shares of the stock in a transaction on Thursday, April 18th. The stock was acquired at an average cost of $20.81 per share, for a total transaction of $2,228,397.23. Following the acquisition, the insider now owns 2,331,367 shares in the company, valued at $48,515,747.27. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 stock was bought at an average price of $21.34 per share, for a total transaction of $555,672.26.
• On Friday, April 12th, Coliseum Capital Management, L purchased 60,000 shares of MasterCraft Boat stock. The stock was bought 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 price 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 bought at an average price 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 purchased at an average price of $20.72 per share, for a total transaction of $500,740.24.

MasterCraft Boat Price Performance

Shares of NASDAQ MCFT opened at $21.50 on Tuesday. The company has a 50 day simple moving average of $22.01 and a two-hundred day simple moving average of $21.57. 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 market capitalization of $366.15 million, a price-to-earnings ratio of 6.57 and a beta of 1.64. 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 issued its quarterly 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 return on equity of 32.01% and a net margin of 10.66%. The firm had revenue of $99.48 million during the quarter, compared to the consensus estimate of $95.53 million. During the same period last year, the company earned $1.16 earnings per share. The company’s revenue was down 37.5% on a year-over-year basis. Analysts expect that MasterCraft Boat Holdings, Inc. will post 1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of MasterCraft Boat by 11.2% during the fourth quarter. Wellington Management Group LLP now owns 590,100 shares of the company’s stock valued at $13,360,000 after acquiring an additional 59,200 shares in the last quarter. AQR Capital Management LLC boosted its stake in MasterCraft Boat by 29.6% during the 3rd quarter. AQR Capital Management LLC now owns 412,977 shares of the company’s stock valued at $9,176,000 after purchasing an additional 94,420 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of MasterCraft Boat by 34.2% in the 1st quarter. Wasatch Advisors LP now owns 381,471 shares of the company’s stock worth $9,048,000 after purchasing an additional 97,170 shares in the last quarter. American Century Companies Inc. raised its stake in shares of MasterCraft Boat by 15.8% in the third quarter. American Century Companies Inc. now owns 258,634 shares of the company’s stock worth $5,747,000 after purchasing an additional 35,374 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of MasterCraft Boat by 0.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 212,562 shares of the company’s stock valued at $4,723,000 after purchasing an additional 617 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

MCFT has been the topic of several recent research reports. B. Riley reduced their price objective on MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Truist Financial increased their price target on shares of MasterCraft Boat from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, MasterCraft Boat currently has an average rating of “Hold” and an average target price of $24.67.

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.