Strs Ohio Reduces Stock Holdings in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Strs Ohio trimmed its holdings in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,000 shares of the company’s stock after selling 1,900 shares during the period. Strs Ohio owned about 0.14% of MasterCraft Boat worth $566,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MCFT. Jacobs Levy Equity Management Inc. raised its holdings in shares of MasterCraft Boat by 0.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 212,562 shares of the company’s stock worth $4,723,000 after purchasing an additional 617 shares during the period. Orion Portfolio Solutions LLC raised its holdings in shares of MasterCraft Boat by 1.9% during the third quarter. Orion Portfolio Solutions LLC now owns 46,416 shares of the company’s stock worth $1,031,000 after purchasing an additional 875 shares during the period. Algert Global LLC raised its holdings in shares of MasterCraft Boat by 6.5% during the third quarter. Algert Global LLC now owns 18,910 shares of the company’s stock worth $420,000 after purchasing an additional 1,153 shares during the period. Carmel Capital Partners LLC acquired a new stake in shares of MasterCraft Boat during the third quarter worth $28,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of MasterCraft Boat by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 107,388 shares of the company’s stock worth $2,386,000 after purchasing an additional 1,585 shares during the period. 97.64% of the stock is owned by institutional investors and hedge funds.

MasterCraft Boat Stock Performance

Shares of MCFT opened at $20.55 on Friday. The firm has a 50-day moving average price of $21.92 and a 200 day moving average price of $21.55. The firm has a market capitalization of $349.97 million, a PE ratio of 6.28 and a beta of 1.64. The company has a quick ratio of 1.58, a current ratio of 2.11 and a debt-to-equity ratio of 0.24. 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 announced 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 firm had revenue of $99.48 million during the quarter, compared to analyst estimates of $95.53 million. During the same quarter in the prior year, the firm posted $1.16 EPS. MasterCraft Boat’s revenue was down 37.5% compared to the same quarter last year. On average, sell-side analysts anticipate that MasterCraft Boat Holdings, Inc. will post 1.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at MasterCraft Boat

In other news, major shareholder Coliseum Capital Management, L acquired 118,620 shares of MasterCraft Boat stock in a transaction on Monday, March 18th. The stock was bought at an average cost of $21.84 per share, with a total value of $2,590,660.80. Following the completion of the purchase, the insider now owns 2,151,676 shares of the company’s stock, valued at $46,992,603.84. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders bought 347,217 shares of company stock valued at $7,430,463. 2.50% of the stock is currently owned by corporate insiders.

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.