Insider Buying: MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Major Shareholder Buys 55,000 Shares of Stock

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L bought 55,000 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $18.83 per share, for a total transaction of $1,035,650.00. Following the purchase, the insider now owns 3,562,615 shares of the company’s stock, valued at approximately $67,084,040.45. The trade was a 1.57 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, December 26th, Coliseum Capital Management, L purchased 53,853 shares of MasterCraft Boat stock. The shares were purchased at an average cost of $18.87 per share, for a total transaction of $1,016,206.11.

MasterCraft Boat Trading Up 1.3 %

Shares of MCFT stock traded up $0.24 during mid-day trading on Monday, hitting $18.96. The company’s stock had a trading volume of 126,213 shares, compared to its average volume of 150,886. The company has a market cap of $318.45 million, a PE ratio of -82.43 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.49 and a current ratio of 2.01. The company’s fifty day simple moving average is $19.64 and its 200-day simple moving average is $19.09. MasterCraft Boat Holdings, Inc. has a 52 week low of $16.12 and a 52 week high of $24.05.

MasterCraft Boat (NASDAQ:MCFT) last issued its earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. MasterCraft Boat had a positive return on equity of 6.55% and a negative net margin of 1.08%. The business had revenue of $65.40 million during the quarter, compared to the consensus estimate of $61.19 million. During the same period in the previous year, the company posted $0.43 earnings per share. The firm’s revenue for the quarter was down 37.2% on a year-over-year basis. As a group, equities research analysts expect that MasterCraft Boat Holdings, Inc. will post 0.61 earnings per share for the current fiscal year.

Institutional Trading of MasterCraft Boat

Several hedge funds have recently modified their holdings of MCFT. Isthmus Partners LLC boosted its stake in MasterCraft Boat by 0.4% during the second quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock worth $28,000 after acquiring an additional 532 shares in the last quarter. US Bancorp DE raised its holdings in shares of MasterCraft Boat by 64.0% during the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock valued at $93,000 after purchasing an additional 2,000 shares during the period. SG Americas Securities LLC bought a new position in shares of MasterCraft Boat during the 3rd quarter worth about $126,000. Quest Partners LLC bought a new position in shares of MasterCraft Boat during the 3rd quarter worth about $150,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of MasterCraft Boat in the 2nd quarter valued at about $190,000. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. DA Davidson raised their target price on MasterCraft Boat from $17.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. B. Riley raised their price objective on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Truist Financial lifted their price objective on MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.25.

MasterCraft Boat Company 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.