Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Shares Acquired by Royce & Associates LP

Royce & Associates LP grew its holdings in Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT - Free Report) by 15.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,069 shares of the company's stock after buying an additional 19,320 shares during the period. Royce & Associates LP owned 0.87% of Mastercraft Boat worth $2,498,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. State of Wyoming acquired a new stake in shares of Mastercraft Boat in the fourth quarter valued at about $108,000. Tower Research Capital LLC TRC increased its position in Mastercraft Boat by 260.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company's stock worth $118,000 after purchasing an additional 4,487 shares during the last quarter. JPMorgan Chase & Co. increased its position in Mastercraft Boat by 7.5% during the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company's stock worth $149,000 after purchasing an additional 544 shares during the last quarter. GAMMA Investing LLC increased its position in Mastercraft Boat by 6,422.7% during the first quarter. GAMMA Investing LLC now owns 8,610 shares of the company's stock worth $148,000 after purchasing an additional 8,478 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in Mastercraft Boat by 8.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 13,200 shares of the company's stock worth $227,000 after purchasing an additional 1,000 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Mastercraft Boat Price Performance

Shares of MCFT opened at $20.41 on Monday. Mastercraft Boat Holdings, Inc. has a 1-year low of $14.39 and a 1-year high of $23.00. The stock has a market cap of $338.91 million, a PE ratio of -52.33 and a beta of 1.01. The firm has a 50-day simple moving average of $18.60 and a two-hundred day simple moving average of $17.88.

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

Insider Buying and Selling at Mastercraft Boat

In other Mastercraft Boat news, major shareholder Fund L.P. Forager acquired 32,378 shares of the stock in a transaction dated Thursday, May 1st. The stock was acquired at an average price of $16.66 per share, with a total value of $539,417.48. Following the completion of the purchase, the insider owned 1,802,975 shares in the company, valued at $30,037,563.50. This trade represents a 1.83% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on MCFT. Robert W. Baird restated a "neutral" rating and set a $20.00 price objective (down from $26.00) on shares of Mastercraft Boat in a research report on Friday, April 4th. 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. Wall Street Zen upgraded shares of Mastercraft Boat from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. Truist Financial raised 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. Finally, Raymond James Financial cut 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Mastercraft Boat has a consensus 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.

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