Royce & Associates LP Raises Holdings in Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT)

Key Points

• Royce & Associates LP increased its holdings in Mastercraft Boat Holdings, acquiring a total of 145,069 shares after purchasing an additional 19,320 shares, representing a 15.4% growth in the first quarter.
• Mastercraft Boat's stock performance shows a market cap of $338.91 million with a 1-year range of $14.39 to $23.00 and last reported earnings beating analysts' expectations at $0.30 per share.
• Several analysts have recently issued new ratings on Mastercraft Boat, with a consensus rating of "Hold" and a price target of $20.00, down from previous estimates.

Royce & Associates LP lifted its position in shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,069 shares of the company's stock after acquiring an additional 19,320 shares during the quarter. Royce & Associates LP owned approximately 0.87% of Mastercraft Boat worth $2,498,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Coliseum Capital Management LLC increased its stake in shares of Mastercraft Boat by 5.6% in the fourth quarter. Coliseum Capital Management LLC now owns 3,562,615 shares of the company's stock valued at $67,939,000 after buying an additional 189,945 shares during the period. Systematic Financial Management LP increased its position 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 acquiring an additional 42,839 shares during the period. Divisar Capital Management LLC increased its holdings in Mastercraft Boat by 29.9% in the fourth quarter. Divisar Capital Management LLC now owns 1,006,805 shares of the company's stock valued at $19,200,000 after purchasing an additional 231,908 shares during the period. Dimensional Fund Advisors LP increased its holdings in Mastercraft Boat by 7.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 842,945 shares of the company's stock valued at $16,075,000 after purchasing an additional 57,729 shares during the period. Finally, American Century Companies Inc. increased its holdings in Mastercraft Boat by 4.0% in the fourth quarter. American Century Companies Inc. now owns 445,259 shares of the company's stock valued at $8,491,000 after purchasing an additional 17,118 shares during the period. Institutional investors and hedge funds own 97.64% of the company's stock.

Mastercraft Boat Stock Performance

Mastercraft Boat stock traded down $0.16 during mid-day trading on Thursday, reaching $19.28. The stock had a trading volume of 12,242 shares, compared to its average volume of 92,138. The stock's 50-day simple moving average is $18.70 and its 200-day simple moving average is $17.91. Mastercraft Boat Holdings, Inc. has a fifty-two week low of $14.39 and a fifty-two week high of $23.00. The firm has a market capitalization of $320.14 million, a PE ratio of -49.44 and a beta of 1.01.

Mastercraft Boat (NASDAQ:MCFT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.12. Mastercraft Boat had a positive return on equity of 3.34% and a negative net margin of 2.46%. The company had revenue of $75.96 million for the quarter, compared to analysts' expectations of $75.15 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Mastercraft Boat's quarterly revenue was down 9.5% on a year-over-year basis. On average, research analysts forecast that Mastercraft Boat Holdings, Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on MCFT. Wall Street Zen upgraded Mastercraft Boat from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. Robert W. Baird reissued a "neutral" rating and set a $20.00 target price (down previously from $26.00) on shares of Mastercraft Boat in a research report on Friday, April 4th. Truist Financial increased their price objective on shares of Mastercraft Boat from $16.00 to $17.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Baird R W cut shares of Mastercraft Boat from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Raymond James Financial decreased their price objective on shares of Mastercraft Boat from $24.00 to $21.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Mastercraft Boat presently has an average rating of "Hold" and a consensus price target of $20.00.

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.