Tower Research Capital LLC TRC Grows Stock Position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Tower Research Capital LLC TRC increased its holdings in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 260.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,210 shares of the company’s stock after buying an additional 4,487 shares during the quarter. Tower Research Capital LLC TRC’s holdings in MasterCraft Boat were worth $118,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCFT. SG Americas Securities LLC grew its position 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 valued at $146,000 after acquiring an additional 742 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings 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 valued at $233,000 after purchasing an additional 6,300 shares during the period. Rhumbline Advisers increased its position in MasterCraft Boat by 2.0% in the fourth quarter. Rhumbline Advisers now owns 27,432 shares of the company’s stock worth $523,000 after buying an additional 528 shares in the last quarter. Principal Financial Group Inc. raised its stake in MasterCraft Boat by 9.4% during the 4th quarter. Principal Financial Group Inc. now owns 11,502 shares of the company’s stock worth $219,000 after acquiring an additional 993 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in MasterCraft Boat by 2.0% during the fourth quarter. Victory Capital Management Inc. now owns 73,112 shares of the company’s stock valued at $1,394,000 after purchasing an additional 1,430 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

MasterCraft Boat Stock Performance

MCFT stock opened at $17.52 on Friday. The firm has a fifty day moving average price of $16.69 and a 200 day moving average price of $18.29. MasterCraft Boat Holdings, Inc. has a fifty-two week low of $14.39 and a fifty-two week high of $23.00. The firm has a market cap of $293.43 million, a PE ratio of -43.79 and a beta of 1.12.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. The business had revenue of $75.96 million during the quarter, compared to analysts’ expectations of $75.15 million. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.74%. The business’s revenue was down 9.5% on a year-over-year basis. During the same period last year, the company posted $0.37 EPS. On average, equities analysts predict that MasterCraft Boat Holdings, Inc. will post 0.62 EPS for the current year.

Insider Buying and Selling at MasterCraft Boat

In related news, major shareholder Fund L.P. Forager bought 4,563 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were purchased at an average price of $15.99 per share, with a total value of $72,962.37. Following the transaction, the insider now owns 1,729,504 shares in the company, valued at $27,654,768.96. This trade represents a 0.26 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have purchased a total of 77,420 shares of company stock worth $1,261,191 over the last ninety days. Company insiders own 4.00% of the company’s stock.

Analyst Ratings Changes

MCFT has been the topic of a number of analyst reports. B. Riley upgraded shares of MasterCraft Boat to a “hold” rating in a research note on Wednesday, February 12th. Truist Financial increased their target price on MasterCraft Boat from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Thursday. StockNews.com raised MasterCraft Boat from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Robert W. Baird reiterated a “neutral” rating and set a $20.00 price objective (down previously from $26.00) on shares of MasterCraft Boat in a research report on Friday, April 4th. Finally, DA Davidson lowered their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, MasterCraft Boat currently has an average rating of “Hold” and a consensus target price of $20.00.

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.