MasterCraft Boat Target of Unusually Large Options Trading (NASDAQ:MCFT)

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 3,485 put options on the stock. This is an increase of approximately 1,999% compared to the typical daily volume of 166 put options.

MasterCraft Boat Trading Down 0.8 %

MCFT opened at $17.61 on Thursday. The stock has a fifty day moving average price of $20.17 and a 200-day moving average price of $21.22. MasterCraft Boat has a 12 month low of $17.55 and a 12 month high of $31.70. The company has a current ratio of 2.02, a quick ratio of 1.54 and a debt-to-equity ratio of 0.23. The firm has a market cap of $299.02 million, a price-to-earnings ratio of 7.93 and a beta of 1.63.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, major shareholder Coliseum Capital Management, L acquired 60,000 shares of the company’s stock in a transaction on Friday, April 12th. The stock was bought at an average cost of $21.84 per share, with a total value of $1,310,400.00. Following the completion of the purchase, the insider now directly owns 2,224,284 shares of the company’s stock, valued at $48,578,362.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have purchased 850,938 shares of company stock valued at $17,504,582. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MasterCraft Boat

Institutional investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of MasterCraft Boat during the first quarter valued at about $43,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MasterCraft Boat by 41.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,486 shares of the company’s stock valued at $102,000 after purchasing an additional 1,306 shares in the last quarter. Carmel Capital Partners LLC raised its holdings in shares of MasterCraft Boat by 596.4% in the fourth quarter. Carmel Capital Partners LLC now owns 8,879 shares of the company’s stock worth $201,000 after buying an additional 7,604 shares during the last quarter. CastleKnight Management LP acquired a new stake in shares of MasterCraft Boat during the fourth quarter worth $263,000. Finally, Janus Henderson Group PLC grew its holdings in shares of MasterCraft Boat by 40.5% during the first quarter. Janus Henderson Group PLC now owns 13,047 shares of the company’s stock valued at $310,000 after buying an additional 3,762 shares during the last quarter. Institutional investors and hedge funds 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.