Zacks Investment Research Upgrades MCBC Holdings Inc. (MCFT) to Hold
MCBC Holdings Inc. (NASDAQ:MCFT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “MCBC Holdings, Inc. is a designer, manufacturer and marketer of MasterCraft brand premium performance sport boats. The Company offers water skiing, wakeboarding and luxury performance powerboats. MCBC Holdings, Inc. is headquartered Vonore, United States. “
Separately, B. Riley reiterated a “buy” rating and issued a $17.50 price objective on shares of MCBC Holdings in a research note on Wednesday, September 14th.
Shares of MCBC Holdings (NASDAQ:MCFT) opened at 12.37 on Wednesday. The stock has a market cap of $229.98 billion, a P/E ratio of 22.09 and a beta of 0.94. The company’s 50-day moving average is $11.52 and its 200 day moving average is $12.03. MCBC Holdings has a 1-year low of $10.25 and a 1-year high of $15.97.
MCBC Holdings (NASDAQ:MCFT) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05. MCBC Holdings had a net margin of 4.61% and a return on equity of 38.50%. The business had revenue of $60.69 million for the quarter, compared to analyst estimates of $59.77 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that MCBC Holdings will post $1.30 EPS for the current year.
In other MCBC Holdings news, major shareholder Wayzata Investment Partners Ll sold 4,600,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $9.74, for a total value of $44,804,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 54.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of MCFT. AWM Investment Company Inc. increased its stake in MCBC Holdings by 37.7% in the second quarter. AWM Investment Company Inc. now owns 275,390 shares of the company’s stock valued at $3,043,000 after buying an additional 75,390 shares in the last quarter. Alambic Investment Management L.P. acquired a new stake in MCBC Holdings during the second quarter valued at approximately $137,000. Royce & Associates LP increased its stake in MCBC Holdings by 14.2% in the second quarter. Royce & Associates LP now owns 328,817 shares of the company’s stock valued at $3,633,000 after buying an additional 41,000 shares in the last quarter. Mesirow Financial Investment Management Equity Management acquired a new stake in MCBC Holdings during the second quarter valued at approximately $212,000. Finally, Springhouse Capital Management LP increased its stake in MCBC Holdings by 102.8% in the second quarter. Springhouse Capital Management LP now owns 605,758 shares of the company’s stock valued at $6,694,000 after buying an additional 307,123 shares in the last quarter. 92.91% of the stock is owned by institutional investors.
MCBC Holdings Company Profile
MCBC Holdings, Inc (MCBC) is a holding company. The Company is a designer and manufacturer of inboard tournament ski boats and V-drive runabouts under the MasterCraft brand. The Company operates through two segments: MasterCraft and Hydra-Sports. The MasterCraft product brand consists of recreational performance boats primarily used for water skiing, wakeboarding and wake surfing, and general recreational boating.
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