Coliseum Capital Management, L Buys 26,039 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Stock

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L acquired 26,039 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were bought at an average cost of $21.34 per share, for a total transaction of $555,672.26. Following the completion of the transaction, the insider now directly owns 2,357,406 shares of the company’s stock, valued at approximately $50,307,044.04. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large 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, April 18th, Coliseum Capital Management, L bought 107,083 shares of MasterCraft Boat stock. The shares were bought at an average cost of $20.81 per share, with a total value of $2,228,397.23.
• On Friday, April 12th, Coliseum Capital Management, L bought 60,000 shares of MasterCraft Boat stock. The stock was purchased at an average price of $21.84 per share, for a total transaction of $1,310,400.00.
• On Wednesday, April 10th, Coliseum Capital Management, L bought 11,308 shares of MasterCraft Boat stock. The stock was acquired at an average price of $21.63 per share, with a total value of $244,592.04.
• On Monday, March 18th, Coliseum Capital Management, L purchased 118,620 shares of MasterCraft Boat stock. The shares were acquired at an average price of $21.84 per share, for a total transaction of $2,590,660.80.
• On Thursday, March 14th, Coliseum Capital Management, L acquired 24,167 shares of MasterCraft Boat stock. The stock was acquired at an average price of $20.72 per share, with a total value of $500,740.24.

MasterCraft Boat Stock Down 2.1 %

MCFT opened at $21.05 on Wednesday. The business has a 50 day moving average of $22.01 and a 200-day moving average of $21.57. The stock has a market capitalization of $358.48 million, a price-to-earnings ratio of 6.44 and a beta of 1.64. The company has a current ratio of 2.11, a quick ratio of 1.58 and a debt-to-equity ratio of 0.24. MasterCraft Boat Holdings, Inc. has a 1-year low of $19.22 and a 1-year high of $31.70.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.17. MasterCraft Boat had a net margin of 10.66% and a return on equity of 32.01%. The firm had revenue of $99.48 million during the quarter, compared to the consensus estimate of $95.53 million. During the same period in the prior year, the firm earned $1.16 EPS. The business’s revenue was down 37.5% on a year-over-year basis. As a group, sell-side analysts anticipate that MasterCraft Boat Holdings, Inc. will post 1.51 earnings per share for the current year.

Analysts Set New Price Targets

MCFT has been the subject of several analyst reports. Truist Financial boosted their target price on MasterCraft Boat from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Tuesday, January 9th. B. Riley lowered their target price on shares of MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, MasterCraft Boat has a consensus rating of “Hold” and a consensus price target of $24.67.

Institutional Investors Weigh In On MasterCraft Boat

Several hedge funds have recently made changes to their positions in the stock. Jupiter Asset Management Ltd. acquired a new position in MasterCraft Boat in the 3rd quarter valued at approximately $893,000. Wellington Management Group LLP increased its position in shares of MasterCraft Boat by 73.5% during the third quarter. Wellington Management Group LLP now owns 530,900 shares of the company’s stock valued at $11,797,000 after purchasing an additional 224,900 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of MasterCraft Boat by 0.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 212,562 shares of the company’s stock valued at $4,723,000 after purchasing an additional 617 shares in the last quarter. AQR Capital Management LLC lifted its position in MasterCraft Boat by 29.6% in the third quarter. AQR Capital Management LLC now owns 412,977 shares of the company’s stock worth $9,176,000 after purchasing an additional 94,420 shares during the period. Finally, American Century Companies Inc. boosted its stake in MasterCraft Boat by 15.8% during the third quarter. American Century Companies Inc. now owns 258,634 shares of the company’s stock worth $5,747,000 after buying an additional 35,374 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

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.