LHM Inc. Acquires New Stake in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

LHM Inc. acquired a new stake in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 85,790 shares of the company’s stock, valued at approximately $1,636,000. MasterCraft Boat comprises 0.5% of LHM Inc.’s portfolio, making the stock its 21st biggest holding. LHM Inc. owned 0.51% of MasterCraft Boat at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MCFT. Forager Capital Management LLC increased its position in MasterCraft Boat by 29.9% during the third quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock valued at $30,915,000 after acquiring an additional 390,405 shares during the last quarter. Systematic Financial Management LP increased its position in MasterCraft Boat by 6.8% in the third quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock worth $18,731,000 after buying an additional 65,412 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in MasterCraft Boat in the third quarter worth about $191,000. Metis Global Partners LLC purchased a new stake in MasterCraft Boat in the third quarter worth about $190,000. Finally, Quest Partners LLC purchased a new stake in MasterCraft Boat in the third quarter worth about $150,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Insider Activity at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L purchased 53,853 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average cost of $18.87 per share, with a total value of $1,016,206.11. Following the completion of the purchase, the insider now owns 3,426,523 shares in the company, valued at approximately $64,658,489.01. This represents a 1.60 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on MCFT shares. Truist Financial reduced their price target on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, January 7th. StockNews.com upgraded MasterCraft Boat from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. DA Davidson reduced their price target on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Finally, B. Riley upgraded MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.50.

MasterCraft Boat Stock Up 1.6 %

NASDAQ MCFT opened at $16.94 on Thursday. The firm has a market cap of $283.80 million, a price-to-earnings ratio of -42.35 and a beta of 1.67. The business has a 50-day moving average price of $18.51 and a 200-day moving average price of $18.76. MasterCraft Boat Holdings, Inc. has a twelve month low of $16.12 and a twelve month high of $24.05.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. Research analysts expect that MasterCraft Boat Holdings, Inc. will post 0.62 EPS for the current fiscal year.

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.