Isthmus Partners LLC Sells 45,396 Shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT)

Isthmus Partners LLC trimmed its position in shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT - Free Report) by 38.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 73,490 shares of the company's stock after selling 45,396 shares during the quarter. Isthmus Partners LLC owned about 0.44% of Mastercraft Boat worth $1,265,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MCFT. Victory Capital Management Inc. grew its position in Mastercraft Boat by 2.0% during the 4th quarter. Victory Capital Management Inc. now owns 73,112 shares of the company's stock valued at $1,394,000 after purchasing an additional 1,430 shares during the last quarter. American Century Companies Inc. grew its position in 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 purchasing an additional 17,118 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Mastercraft Boat during the 4th quarter valued at about $448,000. JPMorgan Chase & Co. grew its position in Mastercraft Boat by 7.5% during the 4th quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company's stock valued at $149,000 after purchasing an additional 544 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in 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 purchasing an additional 61,554 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Fund L.P. Forager bought 32,378 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were bought at an average price of $16.66 per share, for a total transaction of $539,417.48. Following the purchase, the insider owned 1,802,975 shares in the company, valued at approximately $30,037,563.50. The trade was a 1.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have purchased 77,420 shares of company stock worth $1,261,191. 4.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on MCFT shares. Baird R W downgraded shares of Mastercraft Boat from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Robert W. Baird reaffirmed a "neutral" rating and set a $20.00 price target (down previously from $26.00) on shares of Mastercraft Boat in a report on Friday, April 4th. Wall Street Zen raised shares of Mastercraft Boat from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. Truist Financial raised their price target on shares of Mastercraft Boat from $16.00 to $17.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Finally, Raymond James Financial dropped their price target on shares of Mastercraft Boat from $24.00 to $21.00 and set an "outperform" rating on the stock in a 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's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $20.00.

Mastercraft Boat Price Performance

Shares of NASDAQ:MCFT traded down $0.68 during trading on Monday, hitting $19.55. The company's stock had a trading volume of 93,233 shares, compared to its average volume of 114,983. The company has a 50-day moving average of $18.09 and a 200-day moving average of $17.79. Mastercraft Boat Holdings, Inc. has a 12 month low of $14.39 and a 12 month high of $23.00. The firm has a market cap of $324.53 million, a price-to-earnings ratio of -50.13 and a beta of 1.01.

Mastercraft Boat (NASDAQ:MCFT - Get Free Report) last issued its quarterly earnings data 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 2.46% and a positive return on equity of 3.34%. The firm had revenue of $75.96 million for the quarter, compared to analysts' expectations of $75.15 million. During the same quarter in the prior year, the business earned $0.37 EPS. The business's quarterly revenue was down 9.5% on a year-over-year basis. As a group, research analysts anticipate that Mastercraft Boat Holdings, Inc. will post 0.62 earnings per share for the current year.

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.