MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Major Shareholder Coliseum Capital Management, L Buys 38,462 Shares

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Coliseum Capital Management, L acquired 38,462 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were bought at an average price of $19.58 per share, with a total value of $753,085.96. Following the completion of the purchase, the insider now directly owns 3,372,670 shares in the company, valued at $66,036,878.60. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, June 20th, Coliseum Capital Management, L acquired 24,054 shares of MasterCraft Boat stock. The shares were bought at an average price of $19.53 per share, with a total value of $469,774.62.
• On Monday, June 17th, Coliseum Capital Management, L acquired 53,856 shares of MasterCraft Boat stock. The shares were bought at an average price of $19.70 per share, with a total value of $1,060,963.20.
• On Thursday, June 13th, Coliseum Capital Management, L acquired 63,600 shares of MasterCraft Boat stock. The shares were bought at an average price of $20.27 per share, with a total value of $1,289,172.00.
• On Monday, June 10th, Coliseum Capital Management, L bought 18,084 shares of MasterCraft Boat stock. The shares were acquired 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 shares were acquired 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 shares were acquired 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 shares were acquired 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 bought 22,484 shares of MasterCraft Boat stock. The shares were acquired at an average cost of $20.36 per share, for a total transaction of $457,774.24.
• On Wednesday, May 8th, Coliseum Capital Management, L bought 47,500 shares of MasterCraft Boat stock. The shares were acquired at an average cost 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 purchased at an average cost of $21.34 per share, for a total transaction of $555,672.26.

MasterCraft Boat Stock Performance

MasterCraft Boat stock traded down $0.15 during midday trading on Tuesday, hitting $19.91. 2,783 shares of the company were exchanged, compared to its average volume of 148,675. The firm has a market capitalization of $338.07 million, a PE ratio of 9.04 and a beta of 1.61. The business has a fifty day simple moving average of $20.54 and a two-hundred day simple moving average of $21.36. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.54 and a current ratio of 2.02. MasterCraft Boat Holdings, Inc. has a fifty-two week low of $18.01 and a fifty-two week high of $31.70.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.30 earnings per share (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%. On average, sell-side analysts forecast that MasterCraft Boat Holdings, Inc. will post 0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MCFT shares. B. Riley cut their price objective on MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Stifel Nicolaus cut their price objective on MasterCraft Boat from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.00.

Hedge Funds Weigh In On MasterCraft Boat

Several hedge funds and other institutional investors have recently made changes to their positions in MCFT. Janney Montgomery Scott LLC increased its holdings in shares of MasterCraft Boat by 27.1% in the third quarter. Janney Montgomery Scott LLC now owns 18,516 shares of the company’s stock valued at $411,000 after purchasing an additional 3,944 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasterCraft Boat in the third quarter valued at $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 boosted its holdings in 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 purchasing an additional 1,153 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in 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 purchasing an additional 14,385 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

MasterCraft Boat Company 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.