Arrowstreet Capital Limited Partnership Sells 136,654 Shares of Mastercraft Boat Holdings, Inc. $MCFT

Key Points

• Arrowstreet Capital cut its Mastercraft Boat stake by 55.5% in the first quarter, selling 136,654 shares and retaining 109,416 shares worth approximately $2.24 million. Institutional investors collectively own 97.64% of MCFT.
• Analyst sentiment remains cautious: MCFT has a consensus “Hold” rating from one Buy and six Hold recommendations, with an average price target of $25.40.
• Mastercraft Boat reported quarterly EPS of $0.45, beating estimates by $0.09, while revenue rose 2.9% year over year to $78.21 million. Shares opened at $25.09, up 4.4%, within a 12-month range of $17.19 to $28.44.

Arrowstreet Capital Limited Partnership lowered its stake in Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT - Free Report) by 55.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,416 shares of the company's stock after selling 136,654 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.67% of Mastercraft Boat worth $2,244,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MCFT. Empowered Funds LLC raised its stake in shares of Mastercraft Boat by 7.3% during the first quarter. Empowered Funds LLC now owns 87,614 shares of the company's stock valued at $1,509,000 after acquiring an additional 5,958 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Mastercraft Boat in the 1st quarter valued at approximately $236,000. First Trust Advisors LP boosted its position in shares of Mastercraft Boat by 3.1% during the second quarter. First Trust Advisors LP now owns 41,276 shares of the company's stock valued at $767,000 after purchasing an additional 1,259 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Mastercraft Boat during the second quarter valued at approximately $684,000. Finally, Quantinno Capital Management LP grew its stake in Mastercraft Boat by 18.0% in the second quarter. Quantinno Capital Management LP now owns 16,327 shares of the company's stock worth $303,000 after purchasing an additional 2,496 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCFT has been the subject of a number of research reports. Weiss Ratings downgraded Mastercraft Boat from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Zacks Research downgraded shares of Mastercraft Boat from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 17th. Robert W. Baird set a $30.00 price target on shares of Mastercraft Boat in a research note on Friday, May 8th. Finally, Truist Financial lifted their price target on shares of Mastercraft Boat from $25.00 to $28.00 and gave the company a "hold" rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $25.40.

Mastercraft Boat Stock Up 4.4%

Shares of MCFT opened at $25.09 on Wednesday. Mastercraft Boat Holdings, Inc. has a twelve month low of $17.19 and a twelve month high of $28.44. The company has a market capitalization of $408.47 million, a P/E ratio of 36.90 and a beta of 1.06. The firm has a 50 day moving average of $23.92 and a 200 day moving average of $22.91.

Mastercraft Boat (NASDAQ:MCFT - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.09. Mastercraft Boat had a return on equity of 10.56% and a net margin of 3.72%.The business had revenue of $78.21 million for the quarter, compared to analysts' expectations of $75.55 million. During the same period in the prior year, the firm posted $0.30 EPS. The firm's quarterly revenue was up 2.9% on a year-over-year basis. Mastercraft Boat has set its FY 2026 guidance at 1.650-1.650 EPS. On average, sell-side analysts expect that Mastercraft Boat Holdings, Inc. will post 1.5 EPS for the current year.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc NASDAQ: MCFT is a designer, manufacturer and marketer of high-performance recreational powerboats. The company's portfolio includes the MasterCraft®, Aviara®, Crest® Classic and Supra® brands, each of which features multiple model lines tailored for activities such as wakeboarding, waterskiing, cruising and luxury day boating. MasterCraft oversees the full product lifecycle from hull design and propulsion engineering to interior appointments and final assembly.

Founded in 1968 and headquartered in Vonore, Tennessee, MasterCraft has built a reputation for innovation in hull design, ballast systems and tower architecture to enhance wake performance and ride quality.

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