Bank of New York Mellon Corp Trims Stake in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Bank of New York Mellon Corp decreased its stake in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 32.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,295 shares of the company’s stock after selling 25,685 shares during the period. Bank of New York Mellon Corp’s holdings in MasterCraft Boat were worth $1,035,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in MCFT. SG Americas Securities LLC boosted its stake in shares of MasterCraft Boat by 10.7% during the 4th quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock worth $146,000 after purchasing an additional 742 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of MasterCraft Boat during the third quarter worth $150,000. Principal Financial Group Inc. acquired a new position in MasterCraft Boat in the third quarter valued at $191,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in MasterCraft Boat by 106.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 12,200 shares of the company’s stock worth $233,000 after buying an additional 6,300 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in MasterCraft Boat by 25.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,854 shares of the company’s stock worth $234,000 after buying an additional 2,620 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L bought 55,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average price 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 in the company, valued at $67,084,040.45. This trade represents a 1.57 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. DA Davidson lowered their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, February 10th. StockNews.com upgraded MasterCraft Boat from a “sell” rating to a “hold” rating in a report on Saturday, March 15th. Truist Financial reduced their target price on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, January 7th. Finally, B. Riley upgraded MasterCraft Boat to a “hold” rating in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, MasterCraft Boat has an average rating of “Hold” and a consensus target price of $20.50.

MasterCraft Boat Trading Up 3.2 %

Shares of MCFT stock opened at $17.85 on Tuesday. The company’s fifty day simple moving average is $18.24 and its 200-day simple moving average is $18.61. MasterCraft Boat Holdings, Inc. has a 52 week low of $16.12 and a 52 week high of $24.05. The company has a market cap of $299.04 million, a PE ratio of -44.62 and a beta of 1.71.

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

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.