D. E. Shaw & Co. Inc. Cuts Stake in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

D. E. Shaw & Co. Inc. lowered its stake in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT - Free Report) by 71.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,329 shares of the company's stock after selling 35,196 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.09% of MasterCraft Boat worth $273,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MCFT. Divisar Capital Management LLC raised its position in shares of MasterCraft Boat by 29.9% during the 4th quarter. Divisar Capital Management LLC now owns 1,006,805 shares of the company's stock valued at $19,200,000 after buying an additional 231,908 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of MasterCraft Boat by 7.4% during 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 in the last quarter. American Century Companies Inc. raised its position in shares of MasterCraft Boat by 4.0% during the 4th quarter. American Century Companies Inc. now owns 445,259 shares of the company's stock valued at $8,491,000 after buying an additional 17,118 shares in the last quarter. Franklin Resources Inc. raised its position in shares of MasterCraft Boat by 32.0% during the 4th quarter. Franklin Resources Inc. now owns 254,193 shares of the company's stock valued at $4,847,000 after buying an additional 61,554 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of MasterCraft Boat by 0.6% during 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 in the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Insider Activity

In other MasterCraft Boat news, major shareholder Fund L.P. Forager acquired 11,172 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The stock was purchased at an average price of $15.82 per share, for a total transaction of $176,741.04. Following the completion of the acquisition, the insider now owns 1,724,941 shares of the company's stock, valued at approximately $27,288,566.62. This trade represents a 0.65% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have purchased 77,420 shares of company stock valued at $1,261,191. Company insiders own 4.00% of the company's stock.

MasterCraft Boat Stock Performance

Shares of NASDAQ:MCFT traded up $0.18 during midday trading on Friday, hitting $16.99. The company's stock had a trading volume of 65,643 shares, compared to its average volume of 126,096. The business's 50 day simple moving average is $16.65 and its 200 day simple moving average is $18.11. The company has a market cap of $282.12 million, a P/E ratio of -42.47 and a beta of 1.12. MasterCraft Boat Holdings, Inc. has a 12-month low of $14.39 and a 12-month high of $23.00.

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.12. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.74%. The firm had revenue of $75.96 million for the quarter, compared to the consensus estimate of $75.15 million. During the same period last year, the firm posted $0.37 earnings per share. The company's revenue for the quarter was down 9.5% on a year-over-year basis. On average, sell-side analysts predict that MasterCraft Boat Holdings, Inc. will post 0.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. DA Davidson cut their price target on shares of MasterCraft Boat from $23.00 to $22.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. Truist Financial upped their target price on shares of MasterCraft Boat from $16.00 to $17.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Raymond James dropped their target price on shares of MasterCraft Boat from $24.00 to $21.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Robert W. Baird restated a "neutral" rating and issued a $20.00 target price (down from $26.00) on shares of MasterCraft Boat in a research note on Friday, April 4th. Finally, B. Riley upgraded shares of MasterCraft Boat to a "hold" rating in a research note on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price 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.