Polar Asset Management Partners Inc. Invests $3.59 Million in Mastercraft Boat Holdings, Inc. $MCFT

Polar Asset Management Partners Inc. acquired a new position in shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) in the 1st quarter, HoldingsChannel reports. The fund acquired 175,005 shares of the company’s stock, valued at approximately $3,589,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State of Alaska Department of Revenue bought a new position in Mastercraft Boat in the 4th quarter worth $42,000. State of Wyoming acquired a new position in Mastercraft Boat during the 2nd quarter worth $61,000. Kemnay Advisory Services Inc. bought a new stake in Mastercraft Boat during the fourth quarter valued at about $63,000. Meeder Asset Management Inc. bought a new stake in Mastercraft Boat during the fourth quarter valued at about $203,000. Finally, Russell Investments Group Ltd. boosted its holdings in Mastercraft Boat by 12.2% during the fourth quarter. Russell Investments Group Ltd. now owns 10,988 shares of the company’s stock valued at $208,000 after acquiring an additional 1,193 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Mastercraft Boat Price Performance

Shares of Mastercraft Boat stock opened at $24.27 on Monday. Mastercraft Boat Holdings, Inc. has a fifty-two week low of $17.19 and a fifty-two week high of $28.44. The firm has a fifty day moving average price of $23.73 and a two-hundred day moving average price of $22.75. The company has a market cap of $395.12 million, a PE ratio of 35.69 and a beta of 1.05.

Mastercraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.09. The company had revenue of $78.21 million for the quarter, compared to analyst estimates of $75.55 million. Mastercraft Boat had a net margin of 3.72% and a return on equity of 10.56%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. Mastercraft Boat has set its FY 2026 guidance at 1.650-1.650 EPS. Analysts expect that Mastercraft Boat Holdings, Inc. will post 1.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MCFT. Zacks Research lowered Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Truist Financial boosted their price objective on Mastercraft Boat from $25.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Robert W. Baird set a $30.00 target price on Mastercraft Boat in a research note on Friday, May 8th. Finally, Weiss Ratings lowered Mastercraft Boat from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.40.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc (NASDAQ: MCFT) is a designer, manufacturer and marketer of high-performance recreational powerboats. The company’s portfolio includes the MasterCraft®, Aviara®, Crest® Classic and Supra® brands, each of which features multiple model lines tailored for activities such as wakeboarding, waterskiing, cruising and luxury day boating. MasterCraft oversees the full product lifecycle from hull design and propulsion engineering to interior appointments and final assembly.

Founded in 1968 and headquartered in Vonore, Tennessee, MasterCraft has built a reputation for innovation in hull design, ballast systems and tower architecture to enhance wake performance and ride quality.