Coliseum Capital Management, L Purchases 26,039 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Stock

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L acquired 26,039 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was bought at an average price of $21.34 per share, for a total transaction of $555,672.26. Following the acquisition, the insider now owns 2,357,406 shares of the company’s stock, valued at approximately $50,307,044.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Coliseum Capital Management, L also recently made the following trade(s):

• On Thursday, April 18th, Coliseum Capital Management, L purchased 107,083 shares of MasterCraft Boat stock. The stock was bought at an average cost of $20.81 per share, for a total transaction of $2,228,397.23.
• On Friday, April 12th, Coliseum Capital Management, L acquired 60,000 shares of MasterCraft Boat stock. The shares were bought at an average cost of $21.84 per share, with a total value of $1,310,400.00.
• On Wednesday, April 10th, Coliseum Capital Management, L bought 11,308 shares of MasterCraft Boat stock. The stock was purchased at an average cost of $21.63 per share, for a total transaction of $244,592.04.
• On Monday, March 18th, Coliseum Capital Management, L purchased 118,620 shares of MasterCraft Boat stock. The shares were purchased at an average cost of $21.84 per share, with a total value of $2,590,660.80.
• On Thursday, March 14th, Coliseum Capital Management, L acquired 24,167 shares of MasterCraft Boat stock. The stock was purchased at an average price of $20.72 per share, for a total transaction of $500,740.24.

MasterCraft Boat Price Performance

Shares of NASDAQ MCFT opened at $21.05 on Wednesday. MasterCraft Boat Holdings, Inc. has a 1 year low of $19.22 and a 1 year high of $31.70. The stock has a market capitalization of $358.48 million, a P/E ratio of 6.44 and a beta of 1.64. The company’s 50-day moving average is $22.01 and its 200 day moving average is $21.57. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.11 and a quick ratio of 1.58.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.17. MasterCraft Boat had a return on equity of 32.01% and a net margin of 10.66%. The business had revenue of $99.48 million for the quarter, compared to analysts’ expectations of $95.53 million. During the same period in the previous year, the firm posted $1.16 EPS. The business’s revenue was down 37.5% on a year-over-year basis. On average, sell-side analysts expect that MasterCraft Boat Holdings, Inc. will post 1.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MCFT. B. Riley cut their target price on MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Truist Financial increased their price objective on MasterCraft Boat from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, MasterCraft Boat has an average rating of “Hold” and a consensus target price of $24.67.

Institutional Investors Weigh In On MasterCraft Boat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCFT. Exchange Traded Concepts LLC boosted its holdings in shares of MasterCraft Boat by 39.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,592 shares of the company’s stock valued at $391,000 after buying an additional 4,942 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of MasterCraft Boat by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 107,388 shares of the company’s stock worth $2,386,000 after acquiring an additional 1,585 shares in the last quarter. Strs Ohio lifted its holdings in shares of MasterCraft Boat by 31.9% during the third quarter. Strs Ohio now owns 26,900 shares of the company’s stock valued at $597,000 after purchasing an additional 6,500 shares during the last quarter. Carmel Capital Partners LLC purchased a new position in MasterCraft Boat during the third quarter valued at $28,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in MasterCraft Boat by 60.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,198 shares of the company’s stock worth $160,000 after purchasing an additional 2,703 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.