Franklin Resources Inc. Acquires 61,554 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Franklin Resources Inc. grew its holdings in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 32.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 254,193 shares of the company’s stock after purchasing an additional 61,554 shares during the quarter. Franklin Resources Inc.’s holdings in MasterCraft Boat were worth $4,847,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. SG Americas Securities LLC boosted its holdings in MasterCraft Boat by 10.7% in the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock worth $146,000 after purchasing an additional 742 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of MasterCraft Boat by 7.5% in 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. Principal Financial Group Inc. bought a new stake in shares of MasterCraft Boat during the 3rd quarter worth about $191,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of MasterCraft Boat by 106.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 12,200 shares of the company’s stock valued at $233,000 after acquiring an additional 6,300 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in MasterCraft Boat by 25.6% during the third quarter. Public Employees Retirement System of Ohio now owns 12,854 shares of the company’s stock valued at $234,000 after purchasing an additional 2,620 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

MasterCraft Boat Trading Down 5.7 %

Shares of MCFT stock opened at $15.80 on Friday. The company has a market capitalization of $264.70 million, a P/E ratio of -39.50 and a beta of 1.34. MasterCraft Boat Holdings, Inc. has a 12 month low of $14.39 and a 12 month high of $23.00. The stock has a 50 day moving average of $17.65 and a two-hundred day moving average of $18.47.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.05 earnings per share 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%. Sell-side analysts predict that MasterCraft Boat Holdings, Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Robert W. Baird restated a “neutral” rating and issued a $20.00 price objective (down from $26.00) on shares of MasterCraft Boat in a research note on Friday, April 4th. B. Riley raised shares of MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. Baird R W downgraded MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Truist Financial cut their price objective on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, January 7th. Finally, DA Davidson lowered their price objective on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.40.

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.