MCBC Holdings Inc. (MCFT) Stock Rating Lowered by Zacks Investment Research
MCBC Holdings Inc. (NASDAQ:MCFT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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 restated a “buy” rating and issued a $17.50 target price on shares of MCBC Holdings in a research note on Wednesday.
MCBC Holdings (NASDAQ:MCFT) opened at 12.74 on Wednesday. The firm has a 50-day moving average of $11.73 and a 200 day moving average of $12.02. The firm has a market capitalization of $237.35 million, a price-to-earnings ratio of 12.91 and a beta of 0.94. MCBC Holdings has a 12-month low of $10.25 and a 12-month high of $15.97.
MCBC Holdings (NASDAQ:MCFT) last released its earnings results on Thursday, November 10th. The company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.05. MCBC Holdings had a net margin of 8.18% and a return on equity of 61.00%. The company earned $60.69 million during the quarter, compared to analysts’ expectations of $59.77 million. During the same quarter last year, the business earned $0.30 EPS. The business’s revenue was up 8.4% on a year-over-year basis. On average, equities analysts predict that MCBC Holdings will post $1.30 EPS for the current year.
In related news, major shareholder Wayzata Investment Partners Ll sold 4,600,000 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $9.74, for a total value of $44,804,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 54.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Springhouse Capital Management LP boosted its stake in shares of MCBC Holdings by 100.5% in the third quarter. Springhouse Capital Management LP now owns 1,214,326 shares of the company’s stock valued at $13,843,000 after buying an additional 608,568 shares during the period. Wells Fargo & Company MN boosted its stake in shares of MCBC Holdings by 11.8% in the third quarter. Wells Fargo & Company MN now owns 532,300 shares of the company’s stock valued at $6,068,000 after buying an additional 56,238 shares during the period. Vanguard Group Inc. boosted its stake in shares of MCBC Holdings by 7.5% in the second quarter. Vanguard Group Inc. now owns 503,234 shares of the company’s stock valued at $5,560,000 after buying an additional 35,199 shares during the period. Citadel Advisors LLC bought a new stake in shares of MCBC Holdings during the third quarter valued at approximately $5,663,000. Finally, AWM Investment Company Inc. boosted its stake in shares of MCBC Holdings by 75.9% in the third quarter. AWM Investment Company Inc. now owns 484,441 shares of the company’s stock valued at $5,523,000 after buying an additional 209,051 shares during the period. Hedge funds and other institutional investors own 94.39% of the company’s stock.
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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