Insider Buying: MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Major Shareholder Purchases 60,000 Shares of Stock

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L bought 60,000 shares of MasterCraft Boat stock in a transaction on Friday, April 12th. The stock was acquired at an average price of $21.84 per share, for a total transaction of $1,310,400.00. Following the transaction, the insider now directly owns 2,224,284 shares of the company’s stock, valued at $48,578,362.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, April 10th, Coliseum Capital Management, L bought 11,308 shares of MasterCraft Boat stock. The stock was acquired at an average price of $21.63 per share, for a total transaction of $244,592.04.
• On Monday, March 18th, Coliseum Capital Management, L bought 118,620 shares of MasterCraft Boat stock. The stock was acquired at an average price of $21.84 per share, for a total transaction 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 cost of $20.72 per share, with a total value of $500,740.24.

MasterCraft Boat Stock Performance

Shares of NASDAQ MCFT traded down $0.08 during trading hours on Friday, reaching $21.93. The stock had a trading volume of 145,899 shares, compared to its average volume of 119,717. The firm has a market cap of $373.47 million, a price-to-earnings ratio of 6.71 and a beta of 1.64. The company has a current ratio of 2.11, a quick ratio of 1.58 and a debt-to-equity ratio of 0.24. MasterCraft Boat Holdings, Inc. has a fifty-two week low of $19.22 and a fifty-two week high of $31.70. The firm has a 50-day moving average of $22.00 and a 200-day moving average of $21.61.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Wednesday, February 7th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.17. MasterCraft Boat had a return on equity of 32.01% and a net margin of 10.66%. The firm had revenue of $99.48 million during the quarter, compared to analysts’ expectations of $95.53 million. During the same period in the prior year, the firm earned $1.16 EPS. The business’s revenue was down 37.5% on a year-over-year basis. Equities research analysts predict that MasterCraft Boat Holdings, Inc. will post 1.51 earnings per share for the current year.

Analyst Ratings Changes

Separately, Truist Financial lifted their price objective on MasterCraft Boat from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Tuesday, January 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, MasterCraft Boat currently has an average rating of “Hold” and a consensus price target of $24.83.

Institutional Trading of MasterCraft Boat

Hedge funds have recently modified their holdings of the business. Jupiter Asset Management Ltd. acquired a new stake in shares of MasterCraft Boat in the 3rd quarter valued at approximately $893,000. Wellington Management Group LLP lifted its holdings in shares of MasterCraft Boat by 73.5% in the 3rd quarter. Wellington Management Group LLP now owns 530,900 shares of the company’s stock valued at $11,797,000 after buying an additional 224,900 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of MasterCraft Boat by 0.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 212,562 shares of the company’s stock valued at $4,723,000 after buying an additional 617 shares during the period. AQR Capital Management LLC lifted its holdings in shares of MasterCraft Boat by 29.6% in the 3rd quarter. AQR Capital Management LLC now owns 412,977 shares of the company’s stock valued at $9,176,000 after buying an additional 94,420 shares during the period. Finally, Seizert Capital Partners LLC lifted its holdings in shares of MasterCraft Boat by 52.0% in the 3rd quarter. Seizert Capital Partners LLC now owns 182,094 shares of the company’s stock valued at $4,046,000 after buying an additional 62,291 shares during the period. 97.64% of the stock is owned by institutional investors and hedge funds.

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.