SummerHaven Investment Management LLC Makes New Investment in Mastercraft Boat Holdings, Inc. $MCFT

SummerHaven Investment Management LLC acquired a new stake in shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 42,533 shares of the company’s stock, valued at approximately $775,000. SummerHaven Investment Management LLC owned 0.18% of Mastercraft Boat as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State of Wyoming grew its holdings in shares of Mastercraft Boat by 5.1% in the 1st quarter. State of Wyoming now owns 17,736 shares of the company’s stock worth $364,000 after purchasing an additional 867 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Mastercraft Boat by 56.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,543 shares of the company’s stock worth $69,000 after purchasing an additional 1,279 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Mastercraft Boat by 196.9% during the 3rd quarter. Versant Capital Management Inc now owns 2,527 shares of the company’s stock worth $50,000 after purchasing an additional 1,676 shares in the last quarter. Legal & General Group Plc bought a new position in Mastercraft Boat during the 2nd quarter valued at about $46,000. Finally, Meeder Asset Management Inc. bought a new position in Mastercraft Boat during the 2nd quarter valued at about $79,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Mastercraft Boat Stock Performance

Shares of MCFT opened at $19.64 on Friday. The company has a market cap of $475.68 million, a price-to-earnings ratio of -981.51 and a beta of 1.11. The stock has a fifty day moving average price of $21.87 and a two-hundred day moving average price of $22.94. Mastercraft Boat Holdings, Inc. has a 52-week low of $17.19 and a 52-week high of $28.44.

Mastercraft Boat (NASDAQ:MCFT) last announced its earnings results on Thursday, September 10th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%. The company had revenue of $129.94 million for the quarter, compared to analysts’ expectations of $101.79 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. The business’s revenue for the quarter was up 63.4% on a year-over-year basis. As a group, research analysts predict that Mastercraft Boat Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on MCFT. Wall Street Zen upgraded shares of Mastercraft Boat to a “hold” rating in a research report on Saturday, October 10th. Zacks Research cut shares of Mastercraft Boat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th. Robert W. Baird dropped their price objective on shares of Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, September 11th. Weiss Ratings lowered shares of Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, September 11th. Finally, B. Riley Financial reiterated a “neutral” rating and issued a $22.00 target price (down from $25.00) on shares of Mastercraft Boat in a research note on Wednesday, September 16th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Mastercraft Boat presently has a consensus rating of “Reduce” and a consensus target price of $24.25.

Mastercraft Boat Profile

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company is best known for performance-oriented ski and wake boats, and also offers luxury day boats and outboard-powered boats for watersports, cruising and general recreation.

Its primary brands include MasterCraft, which focuses on premium inboard performance boats; Crest, which produces luxury pontoon boats; and Aviara, which offers luxury day boats and related recreational vessels. The company sells its products through a network of dealers serving customers in North America and selected international markets.

MasterCraft traces its origins to 1968 and is headquartered in Vonore, Tennessee.