MasterCraft Boat (NASDAQ:MCFT) Share Price Crosses Below Fifty Day Moving Average – Time to Sell?

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) shares passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $18.61 and traded as low as $18.06. MasterCraft Boat shares last traded at $18.44, with a volume of 72,676 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MCFT. StockNews.com upgraded shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. DA Davidson lowered their price objective on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. B. Riley upgraded MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. Finally, Truist Financial dropped their price objective on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.50.

MasterCraft Boat Stock Performance

The stock has a market cap of $308.93 million, a P/E ratio of -46.10 and a beta of 1.67. The company has a 50-day simple moving average of $18.61 and a 200-day simple moving average of $18.84.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. As a group, sell-side analysts expect that MasterCraft Boat Holdings, Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Transactions at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L bought 55,000 shares of the stock in a transaction dated Monday, December 30th. The stock was bought at an average cost of $18.83 per share, with a total value of $1,035,650.00. Following the purchase, the insider now owns 3,562,615 shares of the company’s stock, valued at approximately $67,084,040.45. This represents a 1.57 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 4.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On MasterCraft Boat

Several large investors have recently made changes to their positions in the company. US Bancorp DE increased its position in MasterCraft Boat by 64.0% in the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after purchasing an additional 2,000 shares during the period. State of Wyoming bought a new position in shares of MasterCraft Boat in the 4th quarter valued at about $108,000. Tower Research Capital LLC TRC grew its position in shares of MasterCraft Boat by 260.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company’s stock worth $118,000 after buying an additional 4,487 shares during the period. SG Americas Securities LLC raised its stake in shares of MasterCraft Boat by 10.7% during the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock worth $146,000 after buying an additional 742 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of MasterCraft Boat by 7.5% during the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock worth $149,000 after buying an additional 544 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

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.