Insider Buying: MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Major Shareholder Buys $1,035,650.00 in Stock

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L purchased 55,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $18.83 per share, with a total value of $1,035,650.00. Following the transaction, the insider now directly owns 3,562,615 shares in the company, valued at $67,084,040.45. This trade represents a 1.57 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

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

MasterCraft Boat Price Performance

Shares of NASDAQ:MCFT opened at $19.07 on Thursday. The company’s fifty day moving average price is $19.78 and its 200 day moving average price is $19.08. MasterCraft Boat Holdings, Inc. has a 12 month low of $16.12 and a 12 month 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 capitalization of $320.30 million, a P/E ratio of -82.91 and a beta of 1.64.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.55%. The firm had revenue of $65.40 million for the quarter, compared to analyst estimates of $61.19 million. During the same period last year, the business earned $0.43 EPS. MasterCraft Boat’s revenue for the quarter was down 37.2% compared to the same quarter last year. As a group, 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

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE grew its position in MasterCraft Boat by 64.0% during the 3rd quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after purchasing an additional 2,000 shares during the last quarter. SG Americas Securities LLC purchased a new position in MasterCraft Boat during the 3rd quarter worth $126,000. Quest Partners LLC purchased a new position in MasterCraft Boat during the 3rd quarter worth $150,000. Squarepoint Ops LLC purchased a new position in MasterCraft Boat during the 2nd quarter worth $190,000. Finally, Metis Global Partners LLC purchased a new position in MasterCraft Boat during the 3rd quarter worth $190,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. B. Riley raised their price objective on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Truist Financial raised their price objective on shares of MasterCraft Boat from $15.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Finally, DA Davidson raised their price objective on shares of MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, MasterCraft Boat presently has a consensus 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.