Wellington Management Group LLP Decreases Stock Position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Wellington Management Group LLP cut its stake in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT - Free Report) by 23.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 235,424 shares of the company's stock after selling 72,600 shares during the quarter. Wellington Management Group LLP owned 1.41% of MasterCraft Boat worth $4,490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MCFT. SG Americas Securities LLC grew its holdings in shares of MasterCraft Boat by 10.7% in the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company's stock worth $146,000 after acquiring an additional 742 shares during the period. Rhumbline Advisers grew 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 valued at $523,000 after purchasing an additional 528 shares during the period. Principal Financial Group Inc. grew its stake in shares of MasterCraft Boat by 9.4% during the 4th quarter. Principal Financial Group Inc. now owns 11,502 shares of the company's stock valued at $219,000 after purchasing an additional 993 shares during the period. Victory Capital Management Inc. increased its position in shares of 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. Finally, LHM Inc. bought a new position in shares of MasterCraft Boat in the 4th quarter worth approximately $1,636,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Fund L.P. Forager purchased 4,658 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was acquired at an average cost of $15.09 per share, for a total transaction of $70,289.22. Following the purchase, the insider now directly owns 1,702,353 shares of the company's stock, valued at $25,688,506.77. This trade represents a 0.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 77,420 shares of company stock valued at $1,261,191. 4.00% of the stock is owned by company insiders.

MasterCraft Boat Trading Up 2.2%

Shares of MCFT traded up $0.39 during trading hours on Friday, reaching $17.84. 104,106 shares of the stock traded hands, compared to its average volume of 125,672. The company has a market cap of $296.23 million, a P/E ratio of -44.60 and a beta of 1.12. The company's 50-day moving average price is $16.63 and its two-hundred day moving average price is $18.05. MasterCraft Boat Holdings, Inc. has a 52-week low of $14.39 and a 52-week 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 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.12. The business had revenue of $75.96 million for the quarter, compared to analysts' expectations of $75.15 million. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. The business's quarterly revenue was down 9.5% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. On average, research analysts forecast that MasterCraft Boat Holdings, Inc. will post 0.62 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCFT. Wall Street Zen upgraded shares of MasterCraft Boat from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. DA Davidson cut their price objective on shares of MasterCraft Boat from $23.00 to $22.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. B. Riley raised MasterCraft Boat to a "hold" rating in a report on Wednesday, February 12th. Robert W. Baird reissued 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. Finally, Baird R W downgraded MasterCraft Boat from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $20.00.

About MasterCraft Boat

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.