Mastercraft Boat (NASDAQ:MCFT) Director Peter Leemputte Buys 1,265 Shares of Stock

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Director Peter Leemputte acquired 1,265 shares of the stock in a transaction dated Friday, September 18th. The shares were purchased at an average cost of $19.73 per share, with a total value of $24,958.45. Following the completion of the purchase, the director owned 38,132 shares of the company’s stock, valued at approximately $752,344.36. The trade was a 3.43% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Mastercraft Boat Stock Performance

Shares of MCFT stock opened at $20.47 on Wednesday. The firm has a market cap of $498.24 million, a P/E ratio of -1,022.99 and a beta of 1.07. Mastercraft Boat Holdings, Inc. has a fifty-two week low of $17.19 and a fifty-two week high of $28.44. The business’s 50 day moving average price is $23.63 and its 200-day moving average price is $23.03.

Mastercraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Thursday, September 10th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $129.94 million during the quarter, compared to analyst estimates of $101.79 million. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%.The firm’s revenue was up 63.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. As a group, equities analysts predict that Mastercraft Boat Holdings, Inc. will post 1.66 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MCFT shares. Zacks Research lowered shares of Mastercraft Boat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th. Truist Financial raised their price objective on shares of Mastercraft Boat from $25.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Weiss Ratings cut Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, September 11th. B. Riley Financial reiterated a “neutral” rating and set a $22.00 target price (down from $25.00) on shares of Mastercraft Boat in a report on Wednesday, September 16th. Finally, Robert W. Baird reduced their target price on Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, September 11th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Mastercraft Boat has a consensus rating of “Reduce” and an average target price of $24.25.

Institutional Investors Weigh In On Mastercraft Boat

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Mastercraft Boat during the second quarter valued at $36,896,000. Dimensional Fund Advisors LP boosted its stake in Mastercraft Boat by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 859,835 shares of the company’s stock worth $17,636,000 after purchasing an additional 28,063 shares in the last quarter. Pillsbury Lake Capital LLC purchased a new stake in Mastercraft Boat during the 2nd quarter valued at about $12,886,943. Polar Asset Management Partners Inc. bought a new stake in Mastercraft Boat during the 2nd quarter valued at about $10,073,000. Finally, Royce & Associates LP increased its stake in Mastercraft Boat by 19.0% during the 4th quarter. Royce & Associates LP now owns 305,466 shares of the company’s stock valued at $5,776,000 after purchasing an additional 48,764 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company is best known for MasterCraft-branded performance boats, including wake, surf and ski boats designed for watersports and recreational use.

Its portfolio has also included Crest pontoon boats and Aviara luxury dayboats, serving customers seeking family-oriented boating, cruising and premium recreational vessels. The company sells its boats through a network of independent dealers and supports its products with parts, accessories and related services.

MasterCraft traces its origins to 1968 and is headquartered in Vonore, Tennessee.