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

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

A number of other hedge funds have also made changes to their positions in MCFT. Rhumbline Advisers raised its position in MasterCraft Boat by 2.0% in the fourth quarter. Rhumbline Advisers now owns 27,432 shares of the company's stock worth $523,000 after acquiring an additional 528 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of MasterCraft Boat by 7.5% in the 4th quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company's stock worth $149,000 after purchasing an additional 544 shares during the last quarter. SG Americas Securities LLC raised its holdings 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 worth $146,000 after purchasing an additional 742 shares in the last quarter. Isthmus Partners LLC raised its holdings in shares of MasterCraft Boat by 0.7% in 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 in the last quarter. Finally, Northern Trust Corp lifted its stake in MasterCraft Boat by 0.6% during the fourth quarter. Northern Trust Corp now owns 133,422 shares of the company's stock valued at $2,544,000 after purchasing an additional 791 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

MasterCraft Boat Stock Up 2.2%

Shares of MasterCraft Boat stock traded up $0.39 during midday trading on Friday, hitting $17.84. The company's stock had a trading volume of 104,106 shares, compared to its average volume of 125,578. MasterCraft Boat Holdings, Inc. has a 1-year low of $14.39 and a 1-year high of $23.00. The firm has a market capitalization of $296.23 million, a P/E ratio of -44.60 and a beta of 1.01. The stock has a 50-day simple moving average of $16.64 and a 200-day simple moving average of $17.99.

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

Insider Activity at MasterCraft Boat

In related news, major shareholder Fund L.P. Forager bought 11,172 shares of the business's stock in a transaction on Thursday, April 17th. The stock was bought at an average price of $15.82 per share, for a total transaction of $176,741.04. Following the transaction, the insider now directly owns 1,724,941 shares in the company, valued at $27,288,566.62. This represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have purchased 77,420 shares of company stock valued at $1,261,191. Corporate insiders own 4.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MCFT shares. Baird R W lowered shares of MasterCraft Boat from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. B. Riley raised MasterCraft Boat to a "hold" rating in a research report on Wednesday, February 12th. Truist Financial upped their target price on MasterCraft Boat from $16.00 to $17.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Raymond James dropped their price target on MasterCraft Boat from $24.00 to $21.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Finally, DA Davidson cut their price objective on MasterCraft Boat from $23.00 to $22.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, MasterCraft Boat currently has a consensus 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.