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

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L bought 26,039 shares of the stock in a transaction on Monday, April 22nd. The stock was purchased at an average price of $21.34 per share, with a total value of $555,672.26. Following the completion of the purchase, the insider now owns 2,357,406 shares of the company’s stock, valued at $50,307,044.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, April 18th, Coliseum Capital Management, L purchased 107,083 shares of MasterCraft Boat stock. The shares were acquired at an average cost of $20.81 per share, for a total transaction of $2,228,397.23.
• On Friday, April 12th, Coliseum Capital Management, L acquired 60,000 shares of MasterCraft Boat stock. The stock was acquired at an average cost of $21.84 per share, with a total value of $1,310,400.00.
• On Wednesday, April 10th, Coliseum Capital Management, L purchased 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 bought at an average cost of $20.72 per share, with a total value of $500,740.24.

MasterCraft Boat Stock Up 1.9 %

Shares of MCFT opened at $21.50 on Tuesday. The stock’s 50-day moving average price is $22.01 and its 200-day moving average price is $21.57. The company has a quick ratio of 1.58, a current ratio of 2.11 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $366.15 million, a price-to-earnings ratio of 6.57 and a beta of 1.64. MasterCraft Boat Holdings, Inc. has a 52 week low of $19.22 and a 52 week high of $31.70.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.37 EPS for the quarter, topping 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 business had revenue of $99.48 million for the quarter, compared to analysts’ expectations of $95.53 million. During the same quarter last year, the company earned $1.16 EPS. The business’s revenue was down 37.5% on a year-over-year basis. On average, sell-side analysts predict that MasterCraft Boat Holdings, Inc. will post 1.51 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Truist Financial upped their price target on shares of MasterCraft Boat from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Tuesday, January 9th. B. Riley cut their target price on MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, MasterCraft Boat has an average rating of “Hold” and a consensus target price of $24.67.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Exchange Traded Concepts LLC increased its stake in shares of MasterCraft Boat by 39.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 17,592 shares of the company’s stock valued at $391,000 after purchasing an additional 4,942 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of MasterCraft Boat by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 107,388 shares of the company’s stock valued at $2,386,000 after buying an additional 1,585 shares in the last quarter. Strs Ohio raised its stake in shares of MasterCraft Boat by 31.9% during the 3rd quarter. Strs Ohio now owns 26,900 shares of the company’s stock worth $597,000 after buying an additional 6,500 shares during the period. Carmel Capital Partners LLC purchased a new position in shares of MasterCraft Boat during the 3rd quarter valued at approximately $28,000. Finally, Allspring Global Investments Holdings LLC grew its stake in MasterCraft Boat by 60.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,198 shares of the company’s stock valued at $160,000 after acquiring an additional 2,703 shares during the period. Institutional investors and hedge funds 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.