First Trust Advisors LP lifted its holdings in shares of Mastercraft Boat Holdings Inc (NASDAQ:MCFT) by 25.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 42,476 shares of the company’s stock after acquiring an additional 8,572 shares during the period. First Trust Advisors LP’s holdings in Mastercraft Boat were worth $634,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Mastercraft Boat during the second quarter valued at about $25,000. BNP Paribas Arbitrage SA acquired a new stake in Mastercraft Boat in the 2nd quarter worth approximately $42,000. Meeder Asset Management Inc. boosted its stake in Mastercraft Boat by 336.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,476 shares of the company’s stock worth $67,000 after purchasing an additional 2,680 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Mastercraft Boat during the 2nd quarter worth approximately $95,000. Finally, SG Americas Securities LLC purchased a new stake in Mastercraft Boat during the 2nd quarter worth approximately $120,000. Institutional investors and hedge funds own 88.53% of the company’s stock.
A number of research firms have issued reports on MCFT. SunTrust Banks decreased their price target on shares of Mastercraft Boat from $18.00 to $15.00 and set a “hold” rating for the company in a report on Friday, September 13th. TheStreet lowered shares of Mastercraft Boat from a “b-” rating to a “c+” rating in a report on Thursday, August 15th. ValuEngine downgraded Mastercraft Boat from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Zacks Investment Research raised Mastercraft Boat from a “sell” rating to a “hold” rating and set a $19.00 target price on the stock in a research report on Thursday, November 14th. Finally, BidaskClub upgraded Mastercraft Boat from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Mastercraft Boat currently has an average rating of “Hold” and a consensus target price of $22.50.
Mastercraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. Mastercraft Boat had a net margin of 4.46% and a return on equity of 67.69%. The company had revenue of $109.80 million during the quarter, compared to analyst estimates of $101.81 million. During the same period last year, the firm posted $0.54 EPS. Mastercraft Boat’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, research analysts expect that Mastercraft Boat Holdings Inc will post 2.49 earnings per share for the current year.
About Mastercraft Boat
MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. The company operates in two segments, MasterCraft and NauticStar. It offers sport boats and outboard boats, which are used for water skiing, wakeboarding, wake surfing, and fishing, as well as general recreational boating.
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