MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Major Shareholder Coliseum Capital Management, L Acquires 60,000 Shares of Stock

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L acquired 60,000 shares of the stock in a transaction dated Friday, April 12th. The stock was acquired at an average cost of $21.84 per share, for a total transaction of $1,310,400.00. Following the purchase, the insider now directly owns 2,224,284 shares in the company, valued at $48,578,362.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Coliseum Capital Management, L also recently made the following trade(s):

• On Wednesday, April 10th, Coliseum Capital Management, L bought 11,308 shares of MasterCraft Boat stock. The stock was purchased at an average cost of $21.63 per share, for a total transaction of $244,592.04.
• On Monday, March 18th, Coliseum Capital Management, L purchased 118,620 shares of MasterCraft Boat stock. The shares were bought at an average price of $21.84 per share, with a total value of $2,590,660.80.
• On Thursday, March 14th, Coliseum Capital Management, L bought 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 Performance

MasterCraft Boat stock opened at $21.93 on Friday. 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. The company has a market cap of $373.47 million, a PE ratio of 6.71 and a beta of 1.64. The company’s 50-day moving average is $22.00 and its two-hundred day moving average is $21.61.

MasterCraft Boat (NASDAQ:MCFT) last released its earnings results on Wednesday, February 7th. The company reported $0.37 earnings per share (EPS) 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 company had revenue of $99.48 million for the quarter, compared to the consensus estimate of $95.53 million. During the same period in the prior year, the company posted $1.16 EPS. The company’s revenue was down 37.5% compared to the same quarter last year. Equities analysts anticipate that MasterCraft Boat Holdings, Inc. will post 1.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lifted their price target on shares of MasterCraft Boat from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, MasterCraft Boat has a consensus rating of “Hold” and an average price target of $24.83.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its position in MasterCraft Boat by 143.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock valued at $25,000 after purchasing an additional 489 shares during the period. Carmel Capital Partners LLC bought a new stake in shares of MasterCraft Boat in the 3rd quarter valued at about $28,000. Group One Trading L.P. increased its stake in shares of MasterCraft Boat by 55.9% in the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of MasterCraft Boat by 44.7% in the 4th quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock valued at $37,000 after acquiring an additional 443 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of MasterCraft Boat in the 1st quarter valued at about $41,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.