MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Major Shareholder Acquires $469,774.62 in Stock

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L acquired 24,054 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $19.53 per share, for a total transaction of $469,774.62. Following the acquisition, the insider now directly owns 3,289,208 shares of the company’s stock, valued at $64,238,232.24. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 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 Monday, June 24th, Coliseum Capital Management, L bought 38,462 shares of MasterCraft Boat stock. The stock was purchased at an average cost of $19.58 per share, for a total transaction of $753,085.96.
• On Monday, June 17th, Coliseum Capital Management, L bought 53,856 shares of MasterCraft Boat stock. The stock was purchased at an average cost of $19.70 per share, for a total transaction of $1,060,963.20.
• On Thursday, June 13th, Coliseum Capital Management, L bought 63,600 shares of MasterCraft Boat stock. The stock was purchased at an average cost of $20.27 per share, for a total transaction of $1,289,172.00.
• On Monday, June 10th, Coliseum Capital Management, L bought 18,084 shares of MasterCraft Boat stock. The stock was purchased at an average cost of $20.57 per share, for a total transaction of $371,987.88.
• On Thursday, June 6th, Coliseum Capital Management, L bought 98,446 shares of MasterCraft Boat stock. The stock was purchased at an average cost of $20.35 per share, for a total transaction of $2,003,376.10.
• On Wednesday, May 22nd, Coliseum Capital Management, L bought 175,022 shares of MasterCraft Boat stock. The stock was purchased at an average cost of $20.98 per share, for a total transaction of $3,671,961.56.
• On Monday, May 20th, Coliseum Capital Management, L bought 105,000 shares of MasterCraft Boat stock. The stock was purchased at an average cost of $20.75 per share, for a total transaction of $2,178,750.00.
• On Friday, May 10th, Coliseum Capital Management, L acquired 22,484 shares of MasterCraft Boat stock. The stock was bought at an average price of $20.36 per share, for a total transaction of $457,774.24.
• On Wednesday, May 8th, Coliseum Capital Management, L acquired 47,500 shares of MasterCraft Boat stock. The stock was bought at an average price of $19.13 per share, for a total transaction of $908,675.00.
• On Monday, April 22nd, Coliseum Capital Management, L acquired 26,039 shares of MasterCraft Boat stock. The stock was bought at an average price of $21.34 per share, for a total transaction of $555,672.26.

MasterCraft Boat Trading Down 0.7 %

Shares of MasterCraft Boat stock traded down $0.15 during trading hours on Tuesday, reaching $19.91. The stock had a trading volume of 2,783 shares, compared to its average volume of 148,675. The firm has a 50 day simple moving average of $20.54 and a two-hundred day simple moving average of $21.36. The firm has a market capitalization of $338.07 million, a price-to-earnings ratio of 8.97 and a beta of 1.61. The company has a current ratio of 2.02, a quick ratio of 1.54 and a debt-to-equity ratio of 0.23. MasterCraft Boat Holdings, Inc. has a 1 year low of $18.01 and a 1 year high of $31.70.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The company had revenue of $95.71 million for the quarter, compared to the consensus estimate of $92.32 million. MasterCraft Boat had a return on equity of 21.71% and a net margin of 8.26%. As a group, equities research analysts anticipate that MasterCraft Boat Holdings, Inc. will post 0.85 earnings per share for the current year.

Hedge Funds Weigh In On MasterCraft Boat

A number of large investors have recently modified their holdings of MCFT. Janney Montgomery Scott LLC raised its holdings in shares of MasterCraft Boat by 27.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 18,516 shares of the company’s stock worth $411,000 after purchasing an additional 3,944 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasterCraft Boat in the third quarter valued at about $86,000. Brandywine Global Investment Management LLC grew its stake in shares of MasterCraft Boat by 10.0% in the third quarter. Brandywine Global Investment Management LLC now owns 52,107 shares of the company’s stock valued at $1,158,000 after buying an additional 4,729 shares in the last quarter. Algert Global LLC grew its stake in shares of MasterCraft Boat by 6.5% in the third quarter. Algert Global LLC now owns 18,910 shares of the company’s stock valued at $420,000 after buying an additional 1,153 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of MasterCraft Boat by 1,229.5% in the third quarter. Tower Research Capital LLC TRC now owns 15,555 shares of the company’s stock valued at $346,000 after buying an additional 14,385 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Stifel Nicolaus reduced their price objective on MasterCraft Boat from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. B. Riley reduced their target price on MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, MasterCraft Boat currently has an average rating of “Hold” and a consensus price target of $24.00.

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.