LHM Inc. Acquires 91,616 Shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT)

Key Points

• LHM Inc. significantly increased its stake in MASTERCRAFT BOAT HOLDINGS by acquiring an additional 91,616 shares, raising its total holdings to 177,406 shares, a 106.8% increase during the first quarter.
• Institutional investors now own 97.64% of MASTERCRAFT BOAT, with notable increases in holdings by firms such as GAMMA Investing LLC, which raised its position by 6,422.7%.
• The stock is currently rated as a "Hold" by most analysts, with a consensus price target of $20.00, while shares recently opened at $20.18, reflecting a market capitalization of approximately $334.99 million.

LHM Inc. raised its position in Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT - Free Report) by 106.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 177,406 shares of the company's stock after buying an additional 91,616 shares during the period. Mastercraft Boat accounts for 1.0% of LHM Inc.'s investment portfolio, making the stock its 18th biggest holding. LHM Inc. owned 1.07% of Mastercraft Boat worth $3,055,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in Mastercraft Boat by 0.6% in the 4th quarter. Northern Trust Corp now owns 133,422 shares of the company's stock valued at $2,544,000 after buying an additional 791 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Mastercraft Boat by 260.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company's stock valued at $118,000 after buying an additional 4,487 shares during the last quarter. GAMMA Investing LLC increased its stake in Mastercraft Boat by 6,422.7% in the 1st quarter. GAMMA Investing LLC now owns 8,610 shares of the company's stock valued at $148,000 after buying an additional 8,478 shares during the last quarter. Systematic Financial Management LP increased its stake in Mastercraft Boat by 4.2% in the 4th quarter. Systematic Financial Management LP now owns 1,071,424 shares of the company's stock valued at $20,432,000 after buying an additional 42,839 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Mastercraft Boat by 7.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 842,945 shares of the company's stock valued at $16,075,000 after buying an additional 57,729 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Mastercraft Boat Price Performance

NASDAQ:MCFT traded down $0.25 during trading hours on Friday, hitting $20.09. The stock had a trading volume of 159,822 shares, compared to its average volume of 88,912. Mastercraft Boat Holdings, Inc. has a one year low of $14.39 and a one year high of $23.00. The firm has a market capitalization of $333.49 million, a price-to-earnings ratio of -51.51 and a beta of 1.00. The company has a 50 day simple moving average of $19.39 and a two-hundred day simple moving average of $18.02.

Analysts Set New Price Targets

MCFT has been the subject of several research analyst reports. Raymond James Financial decreased their price target on shares of Mastercraft Boat from $24.00 to $21.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Wall Street Zen upgraded shares of Mastercraft Boat from a "sell" rating to a "hold" rating in a research note on Saturday, May 10th. Finally, Truist Financial lifted their price objective on shares of Mastercraft Boat from $16.00 to $17.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $20.00.

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.