Pillsbury Lake Capital LLC Purchases Shares of 499,107 Mastercraft Boat Holdings, Inc. $MCFT

Pillsbury Lake Capital LLC purchased a new position in Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 499,107 shares of the company’s stock, valued at approximately $12,886,943,000. Mastercraft Boat accounts for about 3.5% of Pillsbury Lake Capital LLC’s investment portfolio, making the stock its 10th biggest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MCFT. Legal & General Group Plc purchased a new stake in shares of Mastercraft Boat in the 2nd quarter valued at about $46,000. State of Wyoming purchased a new position in shares of Mastercraft Boat during the second quarter worth about $61,000. Kemnay Advisory Services Inc. bought a new position in shares of Mastercraft Boat in the fourth quarter worth approximately $63,000. Meeder Asset Management Inc. bought a new position in shares of Mastercraft Boat in the second quarter worth approximately $79,000. Finally, Russell Investments Group Ltd. increased its position in shares of Mastercraft Boat by 12.2% in the fourth quarter. Russell Investments Group Ltd. now owns 10,988 shares of the company’s stock worth $208,000 after purchasing an additional 1,193 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Mastercraft Boat from $25.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Robert W. Baird set a $30.00 target price on shares of Mastercraft Boat in a research report on Friday, May 8th. Weiss Ratings raised Mastercraft Boat from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Finally, Zacks Research downgraded Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.40.

Mastercraft Boat Stock Performance

Shares of Mastercraft Boat stock opened at $24.24 on Thursday. The stock has a market capitalization of $394.63 million, a price-to-earnings ratio of 35.65 and a beta of 1.06. The company has a fifty day moving average of $24.54 and a 200-day moving average of $23.22. Mastercraft Boat Holdings, Inc. has a 52-week low of $17.19 and a 52-week high of $28.44.

About Mastercraft Boat

MasterCraft Boat Holdings, Inc (NASDAQ: MCFT) is a designer, manufacturer and marketer of high-performance recreational powerboats. The company’s portfolio includes the MasterCraft®, Aviara®, Crest® Classic and Supra® brands, each of which features multiple model lines tailored for activities such as wakeboarding, waterskiing, cruising and luxury day boating. MasterCraft oversees the full product lifecycle from hull design and propulsion engineering to interior appointments and final assembly.

Founded in 1968 and headquartered in Vonore, Tennessee, MasterCraft has built a reputation for innovation in hull design, ballast systems and tower architecture to enhance wake performance and ride quality.