Systematic Financial Management LP Acquires 26,077 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Systematic Financial Management LP grew its holdings in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 963,173 shares of the company’s stock after buying an additional 26,077 shares during the period. Systematic Financial Management LP owned 0.06% of MasterCraft Boat worth $18,185,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Isthmus Partners LLC raised its stake in MasterCraft Boat by 0.4% in the 2nd quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock valued at $28,000 after acquiring an additional 532 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of MasterCraft Boat by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,998 shares of the company’s stock valued at $380,000 after purchasing an additional 857 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of MasterCraft Boat by 0.7% in the second quarter. Renaissance Technologies LLC now owns 214,400 shares of the company’s stock valued at $4,048,000 after purchasing an additional 1,400 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of MasterCraft Boat during the 1st quarter worth about $43,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of MasterCraft Boat by 10.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 23,846 shares of the company’s stock worth $566,000 after buying an additional 2,185 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on MCFT shares. StockNews.com cut shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. DA Davidson lowered their target price on MasterCraft Boat from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 10th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $22.00 price objective on shares of MasterCraft Boat in a report on Friday, August 30th. B. Riley dropped their target price on MasterCraft Boat from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Truist Financial restated a “hold” rating and issued a $15.00 price target on shares of MasterCraft Boat in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.20.

MasterCraft Boat Price Performance

MCFT stock opened at $18.12 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.99 and a debt-to-equity ratio of 0.24. The firm has a market cap of $307.70 million, a P/E ratio of 8.16 and a beta of 1.61. The company’s 50-day moving average price is $19.09 and its two-hundred day moving average price is $20.12. MasterCraft Boat Holdings, Inc. has a 12 month low of $16.23 and a 12 month high of $24.05.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings results on Thursday, August 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.18. The company had revenue of $67.20 million for the quarter, compared to analyst estimates of $63.10 million. MasterCraft Boat had a return on equity of 9.44% and a net margin of 2.13%. The company’s revenue for the quarter was down 59.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.33 EPS. On average, analysts anticipate that MasterCraft Boat Holdings, Inc. will post 0.49 earnings per share for the current fiscal year.

MasterCraft Boat 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.