Wasatch Advisors LP Cuts Stock Position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Wasatch Advisors LP cut its holdings in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 10.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 349,975 shares of the company’s stock after selling 42,974 shares during the period. Wasatch Advisors LP owned about 2.08% of MasterCraft Boat worth $6,373,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MCFT. Isthmus Partners LLC increased its stake in MasterCraft Boat by 0.4% during the second quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock worth $28,000 after purchasing an additional 532 shares during the period. US Bancorp DE grew its position in shares of MasterCraft Boat by 64.0% during the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after buying an additional 2,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of MasterCraft Boat by 191.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,250 shares of the company’s stock worth $98,000 after buying an additional 3,450 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of MasterCraft Boat during the third quarter worth about $126,000. Finally, Quest Partners LLC acquired a new position in shares of MasterCraft Boat during the third quarter worth about $150,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MCFT shares. Truist Financial boosted their price objective on MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Stifel Nicolaus reissued a “buy” rating and set a $22.00 price objective on shares of MasterCraft Boat in a research report on Friday, August 30th. B. Riley boosted their price objective on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com downgraded MasterCraft Boat from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd. Finally, DA Davidson boosted their price objective on MasterCraft Boat from $17.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.25.

MasterCraft Boat Price Performance

Shares of MCFT opened at $21.20 on Friday. The stock has a 50 day moving average price of $18.78 and a 200 day moving average price of $19.27. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. MasterCraft Boat Holdings, Inc. has a 52-week low of $16.12 and a 52-week high of $24.05.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The firm had revenue of $65.40 million during the quarter, compared to the consensus estimate of $61.19 million. MasterCraft Boat had a positive return on equity of 6.55% and a negative net margin of 1.08%. The firm’s quarterly revenue was down 37.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 earnings per share. Equities analysts predict that MasterCraft Boat Holdings, Inc. will post 0.61 earnings per share for the current fiscal 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.