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

Wasatch Advisors LP grew its position in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 34.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 381,471 shares of the company’s stock after buying an additional 97,170 shares during the period. Wasatch Advisors LP’s holdings in MasterCraft Boat were worth $9,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of MasterCraft Boat by 11.2% during the 4th quarter. Wellington Management Group LLP now owns 590,100 shares of the company’s stock valued at $13,360,000 after purchasing an additional 59,200 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in MasterCraft Boat by 0.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 212,562 shares of the company’s stock worth $4,723,000 after acquiring an additional 617 shares in the last quarter. AQR Capital Management LLC increased its holdings in MasterCraft Boat by 29.6% in the 3rd quarter. AQR Capital Management LLC now owns 412,977 shares of the company’s stock worth $9,176,000 after acquiring an additional 94,420 shares in the last quarter. Victory Capital Management Inc. increased its holdings in MasterCraft Boat by 2.1% in the 4th quarter. Victory Capital Management Inc. now owns 70,296 shares of the company’s stock worth $1,592,000 after acquiring an additional 1,441 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in MasterCraft Boat in the 4th quarter worth $393,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

MasterCraft Boat Price Performance

MCFT traded down $0.20 on Tuesday, hitting $17.76. 381,892 shares of the company’s stock were exchanged, compared to its average volume of 157,753. MasterCraft Boat Holdings, Inc. has a fifty-two week low of $17.55 and a fifty-two week high of $31.70. The company has a current ratio of 2.02, a quick ratio of 1.54 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $20.24 and a 200-day moving average price of $21.24. The stock has a market cap of $301.56 million, a price-to-earnings ratio of 8.00 and a beta of 1.63.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Wednesday, May 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.09. MasterCraft Boat had a net margin of 8.26% and a return on equity of 21.71%. The company had revenue of $95.71 million for the quarter, compared to analysts’ expectations of $92.32 million. As a group, equities analysts anticipate that MasterCraft Boat Holdings, Inc. will post 0.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MCFT has been the subject of several recent analyst reports. Stifel Nicolaus cut their price target on shares of MasterCraft Boat from $27.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, May 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 report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.00.

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L purchased 11,308 shares of the stock in a transaction dated Wednesday, April 10th. The shares were purchased at an average price of $21.63 per share, with a total value of $244,592.04. Following the transaction, the insider now owns 2,162,984 shares in the company, valued at approximately $46,785,343.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 850,938 shares of company stock valued at $17,504,582 in the last 90 days. 2.50% of the stock is owned by insiders.

About MasterCraft Boat

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.