Short Interest in Mastercraft Boat Holdings Inc (NASDAQ:MCFT) Declines By 45.7%

Mastercraft Boat Holdings Inc (NASDAQ:MCFT) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 378,600 shares, a decrease of 45.7% from the June 30th total of 697,600 shares. Based on an average daily trading volume, of 212,100 shares, the days-to-cover ratio is presently 1.8 days. Approximately 2.1% of the shares of the stock are sold short.

NASDAQ:MCFT traded up $0.15 during mid-day trading on Tuesday, hitting $14.54. 203,807 shares of the stock traded hands, compared to its average volume of 209,824. The stock has a market cap of $272.25 million, a PE ratio of 7.16, a price-to-earnings-growth ratio of 0.50 and a beta of 1.65. Mastercraft Boat has a 52 week low of $14.17 and a 52 week high of $39.50. The stock has a 50 day moving average price of $18.27. The company has a quick ratio of 0.38, a current ratio of 0.79 and a debt-to-equity ratio of 1.42.

In other news, Director Frederick A. Brightbill sold 5,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $20.84, for a total transaction of $104,200.00. Following the sale, the director now directly owns 29,323 shares in the company, valued at approximately $611,091.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patrick May bought 4,185 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $24.06 per share, for a total transaction of $100,691.10. Following the completion of the transaction, the insider now directly owns 5,744 shares in the company, valued at approximately $138,200.64. The disclosure for this purchase can be found here. 2.79% of the stock is currently owned by corporate insiders.



A number of large investors have recently modified their holdings of the stock. Royce & Associates LP grew its holdings in Mastercraft Boat by 8.0% during the 1st quarter. Royce & Associates LP now owns 648,708 shares of the company’s stock valued at $14,641,000 after purchasing an additional 47,893 shares during the last quarter. Systematic Financial Management LP grew its stake in Mastercraft Boat by 14.2% in the 2nd quarter. Systematic Financial Management LP now owns 574,145 shares of the company’s stock worth $11,247,000 after acquiring an additional 71,407 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Mastercraft Boat by 15.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 569,062 shares of the company’s stock worth $10,642,000 after acquiring an additional 76,305 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in Mastercraft Boat by 628.9% in the 1st quarter. Rice Hall James & Associates LLC now owns 564,808 shares of the company’s stock worth $12,748,000 after acquiring an additional 487,325 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. grew its stake in Mastercraft Boat by 11.3% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 324,725 shares of the company’s stock worth $7,329,000 after acquiring an additional 33,000 shares in the last quarter. Institutional investors own 95.64% of the company’s stock.

Several brokerages recently commented on MCFT. Zacks Investment Research downgraded shares of Mastercraft Boat from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. BidaskClub downgraded shares of Mastercraft Boat from a “sell” rating to a “strong sell” rating in a report on Saturday. Raymond James downgraded shares of Mastercraft Boat from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 22nd. ValuEngine downgraded shares of Mastercraft Boat from a “sell” rating to a “strong sell” rating in a report on Friday, May 24th. Finally, B. Riley set a $43.00 price target on shares of Mastercraft Boat and gave the company a “buy” rating in a report on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $34.83.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. The company operates in two segments, MasterCraft and NauticStar. It offers sport boats and outboard boats, which are used for water skiing, wakeboarding, wake surfing, and fishing, as well as general recreational boating.

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