MasterCraft Boat (NASDAQ:MCFT) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of MasterCraft Boat (NASDAQ:MCFT) from a hold rating to a sell rating in a research report released on Thursday.

MCFT has been the topic of a number of other reports. DA Davidson reduced 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 raised MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. Baird R W lowered MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Robert W. Baird reissued a “neutral” rating and set a $20.00 price objective (down previously from $26.00) on shares of MasterCraft Boat in a research report on Friday, April 4th. Finally, Truist Financial dropped their target price on shares of MasterCraft Boat from $22.00 to $16.00 and set a “hold” rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.60.

MasterCraft Boat Stock Down 2.2 %

NASDAQ:MCFT opened at $16.24 on Thursday. MasterCraft Boat has a twelve month low of $14.39 and a twelve month high of $23.00. The stock has a market cap of $272.07 million, a P/E ratio of -40.60 and a beta of 1.34. The business’s 50-day moving average price is $16.93 and its two-hundred day moving average price is $18.34.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, equities research analysts expect that MasterCraft Boat will post 0.62 EPS for the current fiscal year.

Insider Activity at MasterCraft Boat

In other news, major shareholder Fund L.P. Forager bought 11,172 shares of the stock in a transaction on Thursday, April 17th. The shares were bought at an average price of $15.82 per share, with a total value of $176,741.04. Following the completion of the acquisition, the insider now owns 1,724,941 shares in the company, valued at $27,288,566.62. The trade was a 0.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have acquired 35,220 shares of company stock valued at $561,969. 4.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MasterCraft Boat

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SummerHaven Investment Management LLC increased its holdings in MasterCraft Boat by 1.9% during the first quarter. SummerHaven Investment Management LLC now owns 43,323 shares of the company’s stock valued at $746,000 after buying an additional 790 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of MasterCraft Boat by 6,422.7% in the 1st quarter. GAMMA Investing LLC now owns 8,610 shares of the company’s stock worth $148,000 after purchasing an additional 8,478 shares in the last quarter. Squarepoint Ops LLC raised its holdings in MasterCraft Boat by 144.1% in the 4th quarter. Squarepoint Ops LLC now owns 14,534 shares of the company’s stock worth $277,000 after purchasing an additional 47,510 shares during the period. State of Wyoming purchased a new position in MasterCraft Boat during the fourth quarter valued at $108,000. Finally, Systematic Financial Management LP lifted its position in MasterCraft Boat by 4.2% during the fourth quarter. Systematic Financial Management LP now owns 1,071,424 shares of the company’s stock valued at $20,432,000 after purchasing an additional 42,839 shares in the last quarter. Hedge funds and other institutional investors 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.