Skylands Capital LLC Sells 8,000 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Skylands Capital LLC trimmed its position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 8.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 89,450 shares of the company’s stock after selling 8,000 shares during the period. Skylands Capital LLC’s holdings in MasterCraft Boat were worth $2,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MCFT. Jupiter Asset Management Ltd. acquired a new position in MasterCraft Boat during the 3rd quarter worth $893,000. Wellington Management Group LLP increased its stake in shares of MasterCraft Boat by 73.5% in the third quarter. Wellington Management Group LLP now owns 530,900 shares of the company’s stock worth $11,797,000 after purchasing an additional 224,900 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of MasterCraft Boat by 0.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 212,562 shares of the company’s stock worth $4,723,000 after purchasing an additional 617 shares during the last quarter. AQR Capital Management LLC boosted its stake in MasterCraft Boat by 29.6% during the 3rd quarter. AQR Capital Management LLC now owns 412,977 shares of the company’s stock valued at $9,176,000 after purchasing an additional 94,420 shares during the period. Finally, American Century Companies Inc. grew its holdings in MasterCraft Boat by 15.8% in the 3rd quarter. American Century Companies Inc. now owns 258,634 shares of the company’s stock valued at $5,747,000 after buying an additional 35,374 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

MasterCraft Boat Stock Performance

Shares of MCFT traded up $0.09 on Monday, reaching $20.64. 51,626 shares of the stock traded hands, compared to its average volume of 123,364. The stock’s 50-day moving average price is $21.92 and its 200-day moving average price is $21.54. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.11 and a quick ratio of 1.58. The firm has a market cap of $351.50 million, a price-to-earnings ratio of 6.28 and a beta of 1.64. MasterCraft Boat Holdings, Inc. has a 12 month low of $19.22 and a 12 month high of $31.70.

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

Insider Buying and Selling

In related news, major shareholder Coliseum Capital Management, L acquired 26,039 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were bought at an average cost of $21.34 per share, with a total value of $555,672.26. Following the completion of the acquisition, the insider now owns 2,357,406 shares of the company’s stock, valued at $50,307,044.04. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders acquired 347,217 shares of company stock valued at $7,430,463 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. B. Riley cut their price target on MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Truist Financial upped their target price on shares of MasterCraft Boat from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, MasterCraft Boat presently has a consensus rating of “Hold” and an average price target of $24.67.

MasterCraft Boat Profile

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.