Wedge Capital Management L L P NC Sells 17,573 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Wedge Capital Management L L P NC cut its holdings in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 16.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,367 shares of the company’s stock after selling 17,573 shares during the period. Wedge Capital Management L L P NC’s holdings in MasterCraft Boat were worth $1,591,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Isthmus Partners LLC lifted its position in shares of MasterCraft Boat by 0.4% during the 2nd quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock worth $28,000 after buying an additional 532 shares during the last quarter. Price T Rowe Associates Inc. MD lifted 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 worth $380,000 after acquiring an additional 857 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of MasterCraft Boat by 0.7% in the 2nd 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of MasterCraft Boat during the 1st quarter valued at approximately $43,000. Finally, Janney Montgomery Scott LLC increased its position in 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 purchasing an additional 2,185 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

MasterCraft Boat Price Performance

Shares of NASDAQ MCFT opened at $17.49 on Thursday. 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 company has a market capitalization of $297.00 million, a PE ratio of 7.88 and a beta of 1.61. The firm has a fifty day simple moving average of $18.36 and a 200 day simple moving average of $19.68. MasterCraft Boat Holdings, Inc. has a twelve month low of $16.23 and a twelve month high of $24.05.

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

Analyst Upgrades and Downgrades

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

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.