Insider Buying: MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Major Shareholder Buys $555,672.26 in Stock

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L purchased 26,039 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was purchased at an average cost of $21.34 per share, for a total transaction of $555,672.26. Following the acquisition, the insider now owns 2,357,406 shares of the company’s stock, valued at approximately $50,307,044.04. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, April 18th, Coliseum Capital Management, L purchased 107,083 shares of MasterCraft Boat stock. The stock was purchased at an average cost of $20.81 per share, for a total transaction of $2,228,397.23.
• On Friday, April 12th, Coliseum Capital Management, L purchased 60,000 shares of MasterCraft Boat stock. The stock was purchased at an average cost of $21.84 per share, for a total transaction of $1,310,400.00.
• On Wednesday, April 10th, Coliseum Capital Management, L bought 11,308 shares of MasterCraft Boat stock. The stock was bought at an average price of $21.63 per share, with a total value 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 bought 24,167 shares of MasterCraft Boat stock. The stock was bought at an average price of $20.72 per share, with a total value of $500,740.24.

MasterCraft Boat Stock Performance

Shares of NASDAQ:MCFT opened at $21.31 on Thursday. MasterCraft Boat Holdings, Inc. has a 12 month low of $19.22 and a 12 month high of $31.70. The company has a market cap of $362.99 million, a price-to-earnings ratio of 6.49 and a beta of 1.64. The company has a 50-day moving average price of $22.00 and a 200-day moving average price of $21.57. The company has a current ratio of 2.11, a quick ratio of 1.58 and a debt-to-equity ratio of 0.24.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.17. MasterCraft Boat had a net margin of 10.66% and a return on equity of 32.01%. The company had revenue of $99.48 million during the quarter, compared to the consensus estimate of $95.53 million. During the same period in the prior year, the firm earned $1.16 earnings per share. MasterCraft Boat’s revenue was down 37.5% on a year-over-year basis. As a group, equities analysts anticipate that MasterCraft Boat Holdings, Inc. will post 1.51 EPS for the current year.

Hedge Funds Weigh In On MasterCraft Boat

A number of institutional investors have recently bought and sold shares of MCFT. Wellington Management Group LLP raised its stake in MasterCraft Boat by 73.5% in the third quarter. Wellington Management Group LLP now owns 530,900 shares of the company’s stock worth $11,797,000 after buying an additional 224,900 shares in the last quarter. Wasatch Advisors LP raised its stake in MasterCraft Boat by 34.2% in the first quarter. Wasatch Advisors LP now owns 381,471 shares of the company’s stock worth $9,048,000 after buying an additional 97,170 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of MasterCraft Boat by 29.6% during the third 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 in the last quarter. Seizert Capital Partners LLC increased its stake in shares of MasterCraft Boat by 52.0% during the third quarter. Seizert Capital Partners LLC now owns 182,094 shares of the company’s stock valued at $4,046,000 after purchasing an additional 62,291 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of MasterCraft Boat during the third quarter valued at approximately $893,000. 97.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on MCFT shares. Truist Financial upped 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. B. Riley cut their price target on shares of MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, MasterCraft Boat 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.