MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 36.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 308,024 shares of the company’s stock after selling 174,976 shares during the period. Wellington Management Group LLP’s holdings in MasterCraft Boat were worth $5,609,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Isthmus Partners LLC increased its holdings in MasterCraft Boat by 0.4% in the 2nd quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock worth $28,000 after buying an additional 532 shares during the period. US Bancorp DE boosted its holdings in shares of MasterCraft Boat by 64.0% in the 3rd quarter. US Bancorp DE now owns 5,123 shares of the company’s stock valued at $93,000 after acquiring an additional 2,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of MasterCraft Boat by 191.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,250 shares of the company’s stock worth $98,000 after acquiring an additional 3,450 shares during the period. SG Americas Securities LLC purchased a new position in shares of MasterCraft Boat during the third quarter worth $126,000. Finally, Quest Partners LLC acquired a new position in MasterCraft Boat during the third quarter valued at $150,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MCFT. Truist Financial increased their price target on MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. B. Riley lifted their price target on MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. StockNews.com lowered MasterCraft Boat from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd. DA Davidson raised their price objective on shares of MasterCraft Boat from $17.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $22.00 target price on shares of MasterCraft Boat in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, MasterCraft Boat has a consensus rating of “Hold” and a consensus target price of $21.25.

MasterCraft Boat Stock Performance

Shares of MCFT stock opened at $19.81 on Tuesday. The company has a market capitalization of $332.73 million, a P/E ratio of -86.13 and a beta of 1.64. MasterCraft Boat Holdings, Inc. has a 12-month low of $16.12 and a 12-month high of $24.05. The business’s 50 day moving average is $19.37 and its two-hundred day moving average is $19.23. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.28.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The firm had revenue of $65.40 million for the quarter, compared to analyst estimates of $61.19 million. MasterCraft Boat had a positive return on equity of 6.55% and a negative net margin of 1.08%. The business’s revenue was down 37.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. Analysts expect that MasterCraft Boat Holdings, Inc. will post 0.61 EPS for the current fiscal 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.