MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Major Shareholder Fund L.P. Forager Acquires 9,822 Shares

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Fund L.P. Forager bought 9,822 shares of MasterCraft Boat stock in a transaction on Tuesday, April 29th. The shares were purchased at an average price of $16.27 per share, for a total transaction of $159,803.94. Following the acquisition, the insider now directly owns 1,762,797 shares in the company, valued at approximately $28,680,707.19. This trade represents a 0.56 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Fund L.P. Forager also recently made the following trade(s):

• On Thursday, May 1st, Fund L.P. Forager purchased 32,378 shares of MasterCraft Boat stock. The shares were purchased at an average price of $16.66 per share, for a total transaction of $539,417.48.
• On Wednesday, April 23rd, Fund L.P. Forager acquired 14,827 shares of MasterCraft Boat stock. The stock was purchased at an average price of $16.32 per share, with a total value of $241,976.64.
• On Monday, April 21st, Fund L.P. Forager bought 4,563 shares of MasterCraft Boat stock. The shares were acquired at an average price of $15.99 per share, for a total transaction of $72,962.37.
• On Thursday, April 17th, Fund L.P. Forager purchased 11,172 shares of MasterCraft Boat stock. The stock was acquired at an average price of $15.82 per share, with a total value of $176,741.04.
• On Tuesday, April 15th, Fund L.P. Forager acquired 4,658 shares of MasterCraft Boat stock. The stock was acquired at an average price of $15.09 per share, for a total transaction of $70,289.22.

MasterCraft Boat Price Performance

MCFT stock opened at $16.65 on Friday. MasterCraft Boat Holdings, Inc. has a 1-year low of $14.39 and a 1-year high of $23.00. The stock has a market capitalization of $278.94 million, a P/E ratio of -41.62 and a beta of 1.34. The business has a fifty day moving average price of $16.79 and a 200-day moving average price of $18.31.

MasterCraft Boat (NASDAQ:MCFT) last issued its 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 positive return on equity of 3.74% and a negative net margin of 2.29%. As a group, analysts anticipate that MasterCraft Boat Holdings, Inc. will post 0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MCFT. Baird R W cut MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Truist Financial cut their target price on MasterCraft Boat from $22.00 to $16.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. B. Riley raised MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. Robert W. Baird reissued a “neutral” rating and set a $20.00 price objective (down from $26.00) on shares of MasterCraft Boat in a research report on Friday, April 4th. Finally, DA Davidson reduced their price objective on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, MasterCraft Boat currently has an average rating of “Hold” and a consensus price target of $19.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCFT. State of Wyoming purchased a new stake in MasterCraft Boat during the 4th quarter valued at $108,000. Tower Research Capital LLC TRC boosted its stake in shares of MasterCraft Boat by 260.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company’s stock worth $118,000 after buying an additional 4,487 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of 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 acquiring an additional 742 shares during the period. GAMMA Investing LLC increased its position in MasterCraft Boat by 6,422.7% during the first quarter. GAMMA Investing LLC now owns 8,610 shares of the company’s stock valued at $148,000 after acquiring an additional 8,478 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in MasterCraft Boat by 7.5% in the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock valued at $149,000 after acquiring an additional 544 shares during the period. Institutional investors own 97.64% of the company’s stock.

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.