MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Major Shareholder Purchases $1,310,400.00 in Stock

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L acquired 60,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were acquired at an average price of $21.84 per share, for a total transaction of $1,310,400.00. Following the purchase, the insider now owns 2,224,284 shares of the company’s stock, valued at $48,578,362.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, April 10th, Coliseum Capital Management, L acquired 11,308 shares of MasterCraft Boat stock. The shares were 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 acquired 118,620 shares of MasterCraft Boat stock. The shares were 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 shares were acquired at an average price of $20.72 per share, for a total transaction of $500,740.24.

MasterCraft Boat Price Performance

Shares of NASDAQ:MCFT opened at $21.93 on Monday. The firm’s 50 day moving average is $22.00 and its two-hundred day moving average is $21.62. MasterCraft Boat Holdings, Inc. has a 52 week low of $19.22 and a 52 week high of $31.70. The firm has a market capitalization of $373.56 million, a P/E 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 (NASDAQ:MCFT) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.20 by $0.17. MasterCraft Boat had a net margin of 10.66% and a return on equity of 32.01%. The company had revenue of $99.48 million for the quarter, compared to analyst estimates of $95.53 million. During the same quarter last year, the business earned $1.16 earnings per share. MasterCraft Boat’s revenue was down 37.5% compared to the same quarter last year. Analysts anticipate that MasterCraft Boat Holdings, Inc. will post 1.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of MasterCraft Boat by 9.9% during the second quarter. BlackRock Inc. now owns 1,558,057 shares of the company’s stock valued at $47,754,000 after acquiring an additional 139,923 shares during the period. Vanguard Group Inc. increased its stake in shares of MasterCraft Boat by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 1,333,985 shares of the company’s stock valued at $30,201,000 after acquiring an additional 31,560 shares during the period. Divisar Capital Management LLC increased its stake in shares of MasterCraft Boat by 12.0% during the first quarter. Divisar Capital Management LLC now owns 1,213,023 shares of the company’s stock valued at $29,852,000 after acquiring an additional 130,333 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of MasterCraft Boat by 9.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 646,671 shares of the company’s stock valued at $14,641,000 after acquiring an additional 57,660 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of MasterCraft Boat by 11.2% during the fourth quarter. Wellington Management Group LLP now owns 590,100 shares of the company’s stock valued at $13,360,000 after acquiring an additional 59,200 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

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

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.