KLP Kapitalforvaltning AS Makes New Investment in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

KLP Kapitalforvaltning AS bought a new stake in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 23,500 shares of the company's stock, valued at approximately $448,000. KLP Kapitalforvaltning AS owned about 0.14% of MasterCraft Boat as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. Forager Capital Management LLC grew its holdings in MasterCraft Boat by 29.9% in the 3rd quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company's stock worth $30,915,000 after acquiring an additional 390,405 shares during the last quarter. American Century Companies Inc. boosted its stake in MasterCraft Boat by 4.0% during the fourth quarter. American Century Companies Inc. now owns 445,259 shares of the company's stock worth $8,491,000 after acquiring an additional 17,118 shares in the last quarter. Isthmus Partners LLC boosted its position in shares of MasterCraft Boat by 0.7% in the 4th quarter. Isthmus Partners LLC now owns 118,886 shares of the company's stock worth $2,267,000 after purchasing an additional 773 shares in the last quarter. LHM Inc. purchased a new stake in shares of MasterCraft Boat in the fourth quarter worth $1,636,000. Finally, Victory Capital Management Inc. grew its position in MasterCraft Boat by 2.0% during the 4th quarter. Victory Capital Management Inc. now owns 73,112 shares of the company's stock valued at $1,394,000 after purchasing an additional 1,430 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

MasterCraft Boat Trading Up 13.9 %

MCFT stock traded up $2.04 during trading on Wednesday, reaching $16.75. The stock had a trading volume of 359,307 shares, compared to its average volume of 141,020. The stock's 50 day moving average is $17.69 and its two-hundred day moving average is $18.48. The firm has a market cap of $280.61 million, a PE ratio of -41.87 and a beta of 1.34. MasterCraft Boat Holdings, Inc. has a 52 week low of $14.40 and a 52 week high of $23.00.

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.04. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.74%. On average, research analysts anticipate that MasterCraft Boat Holdings, Inc. will post 0.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MCFT shares. Baird R W cut shares of MasterCraft Boat from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Robert W. Baird reiterated a "neutral" rating and set a $20.00 target price (down from $26.00) on shares of MasterCraft Boat in a research note on Friday, April 4th. StockNews.com cut MasterCraft Boat from a "hold" rating to a "sell" rating in a research note on Tuesday. Truist Financial dropped their price objective on MasterCraft Boat from $22.00 to $20.00 and set a "hold" rating on the stock in a research report on Tuesday, January 7th. Finally, B. Riley raised MasterCraft Boat to a "hold" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $20.40.

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.