Wedge Capital Management L L P NC Sells 21,389 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Wedge Capital Management L L P NC lessened its stake in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT - Free Report) by 24.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 65,526 shares of the company's stock after selling 21,389 shares during the period. Wedge Capital Management L L P NC owned approximately 0.39% of MasterCraft Boat worth $1,128,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCFT. Rhumbline Advisers lifted its stake in shares of MasterCraft Boat by 2.0% during the 4th quarter. Rhumbline Advisers now owns 27,432 shares of the company's stock worth $523,000 after purchasing an additional 528 shares during the last quarter. JPMorgan Chase & Co. increased its stake 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 in the last quarter. SG Americas Securities LLC increased its position in shares of MasterCraft Boat by 10.7% in the 4th quarter. SG Americas Securities LLC now owns 7,673 shares of the company's stock valued at $146,000 after acquiring an additional 742 shares during the period. Isthmus Partners LLC grew its position in MasterCraft Boat by 0.7% during the 4th quarter. Isthmus Partners LLC now owns 118,886 shares of the company's stock worth $2,267,000 after purchasing an additional 773 shares during the period. Finally, Northern Trust Corp raised its stake 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 during the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

MasterCraft Boat Stock Performance

MCFT stock traded down $0.18 during midday trading on Thursday, reaching $18.52. 18,840 shares of the company's stock traded hands, compared to its average volume of 125,458. The company has a 50-day moving average price of $16.77 and a two-hundred day moving average price of $17.98. MasterCraft Boat Holdings, Inc. has a 52 week low of $14.39 and a 52 week high of $23.00. The firm has a market capitalization of $307.52 million, a PE ratio of -46.30 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 EPS 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 business had revenue of $75.96 million during the quarter, compared to analyst estimates of $75.15 million. During the same period in the prior year, the business earned $0.37 EPS. The company's revenue for the quarter was down 9.5% on a year-over-year basis. As a group, analysts predict that MasterCraft Boat Holdings, Inc. will post 0.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Truist Financial lifted 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. Robert W. Baird reaffirmed a "neutral" rating and issued a $20.00 target price (down from $26.00) on shares of MasterCraft Boat in a research report on Friday, April 4th. Raymond James dropped their price objective 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. Wall Street Zen raised shares of MasterCraft Boat from a "sell" rating to a "hold" rating in a research note on Saturday, May 10th. Finally, Baird R W downgraded MasterCraft Boat from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $20.00.

Insiders Place Their Bets

In other news, major shareholder Fund L.P. Forager acquired 32,378 shares of MasterCraft Boat stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average price of $16.66 per share, for a total transaction of $539,417.48. Following the completion of the transaction, the insider now owns 1,802,975 shares in the company, valued at $30,037,563.50. The trade was a 1.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have bought 77,420 shares of company stock worth $1,261,191. Company insiders own 4.00% of the company's stock.

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.