Renaissance Technologies LLC Purchases 1,400 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Renaissance Technologies LLC increased its stake in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 214,400 shares of the company’s stock after acquiring an additional 1,400 shares during the quarter. Renaissance Technologies LLC’s holdings in MasterCraft Boat were worth $4,048,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in MasterCraft Boat by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock worth $13,484,000 after purchasing an additional 82,509 shares in the last quarter. American Century Companies Inc. boosted its holdings in MasterCraft Boat by 14.8% in the second quarter. American Century Companies Inc. now owns 395,570 shares of the company’s stock valued at $7,468,000 after acquiring an additional 51,016 shares during the last quarter. Koss Olinger Consulting LLC bought a new position in MasterCraft Boat in the second quarter valued at approximately $417,000. Isthmus Partners LLC lifted its stake in MasterCraft Boat by 0.4% in the second quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock valued at $28,000 after buying an additional 532 shares during the period. Finally, Rhumbline Advisers increased its stake in MasterCraft Boat by 18.1% in the second quarter. Rhumbline Advisers now owns 27,994 shares of the company’s stock valued at $529,000 after purchasing an additional 4,298 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on MCFT. StockNews.com downgraded shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. DA Davidson cut their price objective on MasterCraft Boat from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. B. Riley decreased their target price on MasterCraft Boat from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Stifel Nicolaus reiterated a “buy” rating and set a $22.00 price objective on shares of MasterCraft Boat in a research report on Friday, August 30th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $15.00 price target on shares of MasterCraft Boat in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.20.

MasterCraft Boat Trading Up 0.4 %

NASDAQ:MCFT opened at $18.12 on Friday. The firm has a market cap of $307.70 million, a P/E ratio of 8.16 and a beta of 1.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.42 and a current ratio of 1.99. The firm’s fifty day moving average is $19.09 and its 200-day moving average is $20.12. MasterCraft Boat Holdings, Inc. has a 52 week low of $16.23 and a 52 week high of $24.05.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Thursday, August 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.18. The business had revenue of $67.20 million during the quarter, compared to the consensus estimate of $63.10 million. MasterCraft Boat had a net margin of 2.13% and a return on equity of 9.44%. MasterCraft Boat’s revenue was down 59.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 EPS. Equities analysts expect that MasterCraft Boat Holdings, Inc. will post 0.49 earnings per share for the current year.

MasterCraft Boat 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.