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

Wasatch Advisors LP reduced its stake in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT - Free Report) by 10.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 349,975 shares of the company's stock after selling 42,974 shares during the period. Wasatch Advisors LP owned 2.08% of MasterCraft Boat worth $6,373,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Isthmus Partners LLC raised its position in shares of 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 acquiring an additional 532 shares during the last quarter. US Bancorp DE grew its holdings in MasterCraft Boat by 64.0% during the 3rd quarter. US Bancorp DE now owns 5,123 shares of the company's stock worth $93,000 after acquiring an additional 2,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of MasterCraft Boat by 191.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,250 shares of the company's stock worth $98,000 after acquiring an additional 3,450 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of MasterCraft Boat in the 3rd quarter valued at about $126,000. Finally, Quest Partners LLC bought a new stake in shares of MasterCraft Boat during the 3rd quarter valued at about $150,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MCFT. DA Davidson boosted their price target on MasterCraft Boat from $17.00 to $23.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. B. Riley increased their target price on shares of MasterCraft Boat from $14.00 to $18.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Truist Financial raised their price target on shares of MasterCraft Boat from $15.00 to $22.00 and gave the stock a "hold" rating in a report on Thursday, November 7th. Stifel Nicolaus reiterated a "buy" rating and set a $22.00 price objective on shares of MasterCraft Boat in a report on Friday, August 30th. Finally, StockNews.com downgraded MasterCraft Boat from a "hold" rating to a "sell" rating in a research note on Monday, September 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $21.25.

MasterCraft Boat Stock Up 0.2 %

MCFT stock traded up $0.04 during midday trading on Friday, reaching $21.20. 38,637 shares of the company's stock traded hands, compared to its average volume of 135,817. The company has a market cap of $356.16 million, a price-to-earnings ratio of -92.17 and a beta of 1.61. 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. The firm's fifty day moving average price is $18.78 and its 200-day moving average price is $19.26.

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.09. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.55%. The business had revenue of $65.40 million for the quarter, compared to analysts' expectations of $61.19 million. During the same period last year, the business earned $0.43 earnings per share. The business's quarterly revenue was down 37.2% on a year-over-year basis. As a group, sell-side analysts forecast 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.