MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Major Shareholder Coliseum Capital Management, L Acquires 55,000 Shares of Stock

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L acquired 55,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were bought at an average price of $18.83 per share, with a total value of $1,035,650.00. Following the completion of the purchase, the insider now directly owns 3,562,615 shares of the company’s stock, valued at approximately $67,084,040.45. This represents a 1.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, December 26th, Coliseum Capital Management, L bought 53,853 shares of MasterCraft Boat stock. The stock was purchased at an average cost of $18.87 per share, for a total transaction of $1,016,206.11.

MasterCraft Boat Stock Performance

Shares of MasterCraft Boat stock opened at $18.96 on Tuesday. The firm has a 50 day simple moving average of $19.68 and a 200 day simple moving average of $19.08. MasterCraft Boat Holdings, Inc. has a fifty-two week low of $16.12 and a fifty-two week high of $24.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.49. The firm has a market cap of $318.45 million, a P/E ratio of -82.43 and a beta of 1.64.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in shares of MasterCraft Boat by 13.1% during the second quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock worth $13,484,000 after buying an additional 82,509 shares during the last quarter. Renaissance Technologies LLC grew its holdings in MasterCraft Boat by 0.7% during the 2nd quarter. Renaissance Technologies LLC now owns 214,400 shares of the company’s stock worth $4,048,000 after acquiring an additional 1,400 shares during the period. Systematic Financial Management LP raised its position in shares of MasterCraft Boat by 6.8% during the 3rd quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock valued at $18,731,000 after acquiring an additional 65,412 shares during the last quarter. US Bancorp DE lifted its stake 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 purchasing an additional 2,000 shares during the period. Finally, Principal Financial Group Inc. bought a new position in shares of MasterCraft Boat in the 3rd quarter worth $191,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MCFT shares. B. Riley boosted their price target on shares of 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 upgraded MasterCraft Boat from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. DA Davidson lifted their price objective on MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Truist Financial increased their target price on MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.25.

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.