Insider Buying: MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Major Shareholder Purchases 26,039 Shares of Stock

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L purchased 26,039 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were acquired at an average price of $21.34 per share, with a total value of $555,672.26. Following the purchase, the insider now owns 2,357,406 shares of the company’s stock, valued at $50,307,044.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, April 18th, Coliseum Capital Management, L bought 107,083 shares of MasterCraft Boat stock. The stock was bought at an average cost of $20.81 per share, with a total value of $2,228,397.23.
• On Friday, April 12th, Coliseum Capital Management, L purchased 60,000 shares of MasterCraft Boat stock. The stock was bought at an average price of $21.84 per share, for a total transaction of $1,310,400.00.
• On Wednesday, April 10th, Coliseum Capital Management, L acquired 11,308 shares of MasterCraft Boat stock. The shares were bought at an average cost of $21.63 per share, with a total value of $244,592.04.
• On Monday, March 18th, Coliseum Capital Management, L bought 118,620 shares of MasterCraft Boat stock. The stock was purchased 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 purchased 24,167 shares of MasterCraft Boat stock. The shares were purchased at an average cost of $20.72 per share, with a total value of $500,740.24.

MasterCraft Boat Price Performance

Shares of MasterCraft Boat stock traded up $0.40 during midday trading on Monday, reaching $21.50. The company had a trading volume of 107,630 shares, compared to its average volume of 124,591. The company has a current ratio of 2.11, a quick ratio of 1.58 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $22.01 and a 200 day simple moving average of $21.57. MasterCraft Boat Holdings, Inc. has a 1-year low of $19.22 and a 1-year high of $31.70. The company has a market capitalization of $366.15 million, a price-to-earnings ratio of 6.57 and a beta of 1.64.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.17. The business had revenue of $99.48 million for the quarter, compared to analyst estimates of $95.53 million. MasterCraft Boat had a return on equity of 32.01% and a net margin of 10.66%. The firm’s revenue for the quarter was down 37.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 earnings per share. As a group, equities research analysts forecast that MasterCraft Boat Holdings, Inc. will post 1.51 earnings per share for the current year.

Institutional Investors Weigh In On MasterCraft Boat

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in MasterCraft Boat by 73.5% during the 3rd quarter. Wellington Management Group LLP now owns 530,900 shares of the company’s stock worth $11,797,000 after acquiring an additional 224,900 shares during the period. Wasatch Advisors LP boosted its holdings in MasterCraft Boat by 34.2% during the first quarter. Wasatch Advisors LP now owns 381,471 shares of the company’s stock worth $9,048,000 after buying an additional 97,170 shares during the last quarter. AQR Capital Management LLC grew its position in shares of MasterCraft Boat by 29.6% during the 3rd quarter. AQR Capital Management LLC now owns 412,977 shares of the company’s stock worth $9,176,000 after buying an additional 94,420 shares during the period. Seizert Capital Partners LLC increased its stake 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 acquiring an additional 62,291 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of MasterCraft Boat in the 3rd quarter valued at approximately $893,000. 97.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

MCFT has been the topic of several research analyst reports. B. Riley decreased their price objective on shares of MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Truist Financial increased their price target on MasterCraft Boat from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, MasterCraft Boat currently has an average rating of “Hold” and a consensus price target of $24.67.

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.