Los Angeles Capital Management LLC Sells 15,669 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Los Angeles Capital Management LLC reduced its holdings in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 19.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 65,320 shares of the company’s stock after selling 15,669 shares during the quarter. Los Angeles Capital Management LLC’s holdings in MasterCraft Boat were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MCFT. Carmel Capital Partners LLC bought a new stake in MasterCraft Boat during the 3rd quarter valued at $28,000. DekaBank Deutsche Girozentrale bought a new position in shares of MasterCraft Boat in the third quarter valued at approximately $86,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of MasterCraft Boat by 41.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,486 shares of the company’s stock worth $102,000 after purchasing an additional 1,306 shares during the period. Quantbot Technologies LP bought a new stake in MasterCraft Boat during the third quarter valued at $116,000. Finally, Allspring Global Investments Holdings LLC grew its position in MasterCraft Boat by 60.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,198 shares of the company’s stock worth $160,000 after buying an additional 2,703 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MCFT. B. Riley dropped their price target on MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating for the company 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 stock a “hold” rating in a report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.67.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L purchased 118,620 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average cost of $21.84 per share, for a total transaction of $2,590,660.80. Following the acquisition, the insider now directly owns 2,151,676 shares of the company’s stock, valued at approximately $46,992,603.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders purchased 347,217 shares of company stock valued at $7,430,463. 2.50% of the stock is currently owned by company insiders.

MasterCraft Boat Price Performance

Shares of MasterCraft Boat stock opened at $20.08 on Wednesday. The stock has a market capitalization of $341.96 million, a price-to-earnings ratio of 6.14 and a beta of 1.65. The company has a fifty day moving average of $21.66 and a 200-day moving average of $21.42. MasterCraft Boat Holdings, Inc. has a 52-week low of $19.22 and a 52-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 released its quarterly earnings data on Wednesday, February 7th. The company reported $0.37 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $95.53 million. During the same quarter in the previous year, the business earned $1.16 earnings per share. The company’s quarterly revenue was down 37.5% on a year-over-year basis. Equities research analysts expect that MasterCraft Boat Holdings, Inc. will post 1.51 EPS for the current year.

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.