Allspring Global Investments Holdings LLC Purchases 2,703 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Allspring Global Investments Holdings LLC increased its position in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFTFree Report) by 60.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,198 shares of the company’s stock after buying an additional 2,703 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in MasterCraft Boat were worth $160,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers raised its position in shares of MasterCraft Boat by 1.5% during the first quarter. Rhumbline Advisers now owns 24,453 shares of the company’s stock worth $744,000 after purchasing an additional 367 shares during the period. Meeder Asset Management Inc. raised its holdings in MasterCraft Boat by 44.7% during the fourth quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock worth $37,000 after buying an additional 443 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of MasterCraft Boat by 143.8% in the first quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock valued at $25,000 after buying an additional 489 shares in the last quarter. Group One Trading L.P. grew its holdings in shares of MasterCraft Boat by 55.9% during the first quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after buying an additional 500 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of MasterCraft Boat by 0.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 130,337 shares of the company’s stock worth $3,995,000 after acquiring an additional 679 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

MasterCraft Boat Stock Performance

Shares of MasterCraft Boat stock opened at $19.63 on Wednesday. The firm has a market capitalization of $338.81 million, a P/E ratio of 4.86 and a beta of 1.65. The company has a current ratio of 2.08, a quick ratio of 1.42 and a debt-to-equity ratio of 0.25. The business’s fifty day simple moving average is $21.46 and its 200 day simple moving average is $22.84. MasterCraft Boat Holdings, Inc. has a 12 month low of $19.25 and a 12 month high of $35.29.

MasterCraft Boat (NASDAQ:MCFTGet Free Report) last released its earnings results on Wednesday, November 8th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $104.22 million for the quarter, compared to analysts’ expectations of $95.95 million. MasterCraft Boat had a return on equity of 41.42% and a net margin of 11.91%. As a group, analysts anticipate that MasterCraft Boat Holdings, Inc. will post 1.58 EPS for the current year.

Insider Buying and Selling at MasterCraft Boat

In other news, Director Donald C. Campion sold 6,563 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $21.11, for a total transaction of $138,544.93. Following the completion of the sale, the director now owns 14,142 shares in the company, valued at approximately $298,537.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MCFT. Raymond James dropped their price target on shares of MasterCraft Boat from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, November 9th. Truist Financial lifted their target price on MasterCraft Boat from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Tuesday, January 9th. Stifel Nicolaus lowered their price target on MasterCraft Boat from $33.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Finally, StockNews.com cut MasterCraft Boat from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, MasterCraft Boat has an average rating of “Hold” and a consensus target price of $24.83.

Read Our Latest Stock Analysis on MasterCraft Boat

About MasterCraft Boat

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for MasterCraft Boat (NASDAQ:MCFT)

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