Pillsbury Lake Capital LLC Acquires New Holdings in Mastercraft Boat Holdings, Inc. $MCFT

Key Points

• Pillsbury Lake Capital LLC acquired 499,107 shares of MasterCraft Boat Holdings in the second quarter, worth approximately $12.9 million and representing a 3.07% ownership stake.
• Institutional interest increased broadly, with BlackRock, Polar Asset Management and De Lisle Partners initiating positions; institutions and hedge funds now own 97.64% of MCFT.
• MCFT recently traded at $23.89, while analysts maintain a consensus “Hold” rating with an average price target of $26.33.

Pillsbury Lake Capital LLC bought a new stake in Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 499,107 shares of the company's stock, valued at approximately $12,886,943. Mastercraft Boat makes up about 0.0% of Pillsbury Lake Capital LLC's holdings, making the stock its 10th largest holding. Pillsbury Lake Capital LLC owned 3.07% of Mastercraft Boat at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MCFT. BlackRock Inc. bought a new stake in Mastercraft Boat in the second quarter valued at approximately $36,896,000. Polar Asset Management Partners Inc. purchased a new position in Mastercraft Boat during the 2nd quarter valued at about $10,073,000. De Lisle Partners LLP bought a new position in shares of Mastercraft Boat in the second quarter worth about $5,573,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Mastercraft Boat by 212.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 220,819 shares of the company's stock valued at $4,739,000 after buying an additional 150,125 shares during the last quarter. Finally, Coliseum Capital Management LLC grew its stake in Mastercraft Boat by 3.8% during the 4th quarter. Coliseum Capital Management LLC now owns 3,697,422 shares of the company's stock valued at $69,918,000 after purchasing an additional 134,807 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Mastercraft Boat Price Performance

NASDAQ:MCFT traded down $0.29 during trading hours on Friday, reaching $23.89. 112,319 shares of the company traded hands, compared to its average volume of 153,613. The firm's 50-day moving average is $24.56 and its 200-day moving average is $23.21. The stock has a market cap of $388.93 million, a P/E ratio of 35.13 and a beta of 1.06. Mastercraft Boat Holdings, Inc. has a 1-year low of $17.19 and a 1-year high of $28.44.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MCFT shares. Truist Financial upped their price target on shares of Mastercraft Boat from $25.00 to $28.00 and gave the stock a "hold" rating in a research note on Monday, July 6th. Weiss Ratings upgraded Mastercraft Boat from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 7th. Zacks Research cut shares of Mastercraft Boat from a "strong-buy" rating to a "hold" rating in a report on Friday, July 17th. Finally, Robert W. Baird set a $30.00 target price on Mastercraft Boat in a research report on Friday, May 8th. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, Mastercraft Boat has an average rating of "Hold" and a consensus price target of $26.33.

Mastercraft Boat Profile

MasterCraft Boat Holdings, Inc NASDAQ: MCFT is a designer, manufacturer and marketer of high-performance recreational powerboats. The company's portfolio includes the MasterCraft®, Aviara®, Crest® Classic and Supra® brands, each of which features multiple model lines tailored for activities such as wakeboarding, waterskiing, cruising and luxury day boating. MasterCraft oversees the full product lifecycle from hull design and propulsion engineering to interior appointments and final assembly.

Founded in 1968 and headquartered in Vonore, Tennessee, MasterCraft has built a reputation for innovation in hull design, ballast systems and tower architecture to enhance wake performance and ride quality.

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