Mastercraft Boat (NASDAQ:MCFT) Director Peter Leemputte Acquires 1,265 Shares

Key Points

• Director insider buying: Peter Leemputte purchased 1,265 MasterCraft Boat shares at an average of $19.73, increasing his direct ownership by 3.43% to 38,132 shares.
• Strong quarterly results: The company reported $0.67 in quarterly EPS versus the $0.63 consensus estimate, while revenue rose 63.4% year over year to $129.94 million.
• Analyst sentiment remains cautious: MCFT has an average “Reduce” rating and a $24.25 consensus price target, with four Hold ratings and two Sell ratings. Shares opened at $19.68, below both their 50-day and 200-day moving averages.

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT - Get Free Report) Director Peter Leemputte acquired 1,265 shares of the firm's stock in a transaction that occurred on Friday, September 18th. The shares were bought at an average price of $19.73 per share, with a total value of $24,958.45. Following the acquisition, the director directly owned 38,132 shares in the company, valued at $752,344.36. This represents a 3.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Mastercraft Boat Stock Performance

Shares of NASDAQ:MCFT opened at $19.68 on Tuesday. The firm's 50 day simple moving average is $23.69 and its 200-day simple moving average is $23.04. Mastercraft Boat Holdings, Inc. has a one year low of $17.19 and a one year high of $28.44. The firm has a market cap of $479.01 million, a PE ratio of -983.51 and a beta of 1.07.

Mastercraft Boat (NASDAQ:MCFT - Get Free Report) last released its quarterly earnings data on Thursday, September 10th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%.The company had revenue of $129.94 million for the quarter, compared to the consensus estimate of $101.79 million. During the same period last year, the business posted $0.40 EPS. Mastercraft Boat's quarterly revenue was up 63.4% on a year-over-year basis. Equities research analysts predict that Mastercraft Boat Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MCFT has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of Mastercraft Boat from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday, September 11th. B. Riley Financial reiterated a "neutral" rating and issued a $22.00 target price (down from $25.00) on shares of Mastercraft Boat in a research note on Wednesday, September 16th. Truist Financial boosted their target price on shares of Mastercraft Boat from $25.00 to $28.00 and gave the stock a "hold" rating in a report on Monday, July 6th. Robert W. Baird lowered their price target on shares of Mastercraft Boat from $30.00 to $26.00 and set a "neutral" rating on the stock in a report on Friday, September 11th. Finally, Zacks Research downgraded shares of Mastercraft Boat from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 15th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $24.25.

Institutional Trading of Mastercraft Boat

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Mastercraft Boat in the second quarter worth about $36,896,000. Dimensional Fund Advisors LP raised its position in Mastercraft Boat by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 859,835 shares of the company's stock worth $17,636,000 after buying an additional 28,063 shares during the last quarter. Pillsbury Lake Capital LLC purchased a new position in Mastercraft Boat during the 2nd quarter worth approximately $12,886,943. Polar Asset Management Partners Inc. acquired a new stake in Mastercraft Boat during the 2nd quarter valued at approximately $10,073,000. Finally, Royce & Associates LP lifted its stake in Mastercraft Boat by 19.0% during the 4th quarter. Royce & Associates LP now owns 305,466 shares of the company's stock valued at $5,776,000 after acquiring an additional 48,764 shares during the period. Hedge funds and other institutional investors own 97.64% of the company's stock.

About Mastercraft Boat

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company is best known for MasterCraft-branded performance boats, including wake, surf and ski boats designed for watersports and recreational use.

Its portfolio has also included Crest pontoon boats and Aviara luxury dayboats, serving customers seeking family-oriented boating, cruising and premium recreational vessels. The company sells its boats through a network of independent dealers and supports its products with parts, accessories and related services.

MasterCraft traces its origins to 1968 and is headquartered in Vonore, Tennessee.

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