Systematic Financial Management LP Buys 42,839 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Systematic Financial Management LP grew its holdings in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,071,424 shares of the company's stock after acquiring an additional 42,839 shares during the quarter. Systematic Financial Management LP owned 6.38% of MasterCraft Boat worth $20,432,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. increased its stake in shares of MasterCraft Boat by 32.0% in the fourth quarter. Franklin Resources Inc. now owns 254,193 shares of the company's stock valued at $4,847,000 after buying an additional 61,554 shares during the period. Principal Financial Group Inc. increased its stake in shares of MasterCraft Boat by 9.4% in the fourth quarter. Principal Financial Group Inc. now owns 11,502 shares of the company's stock valued at $219,000 after buying an additional 993 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of MasterCraft Boat by 260.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company's stock valued at $118,000 after buying an additional 4,487 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of MasterCraft Boat in the fourth quarter valued at approximately $448,000. Finally, LHM Inc. bought a new position in shares of MasterCraft Boat during the 4th quarter worth approximately $1,636,000. Institutional investors own 97.64% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded MasterCraft Boat from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. Raymond James cut their price target on MasterCraft Boat from $24.00 to $21.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Truist Financial increased their target price on MasterCraft Boat from $16.00 to $17.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Robert W. Baird reiterated a "neutral" rating and issued a $20.00 target price (down from $26.00) on shares of MasterCraft Boat in a report on Friday, April 4th. Finally, B. Riley raised MasterCraft Boat to a "hold" rating in a research report on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.00.

MasterCraft Boat Trading Up 1.5%

Shares of MCFT traded up $0.26 during trading hours on Thursday, reaching $17.09. 34,778 shares of the company's stock traded hands, compared to its average volume of 131,914. MasterCraft Boat Holdings, Inc. has a 12 month low of $14.39 and a 12 month high of $23.00. The stock has a market cap of $283.78 million, a PE ratio of -42.72 and a beta of 1.12. The firm's 50 day simple moving average is $16.72 and its 200-day simple moving average is $18.33.

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $75.15 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The business's revenue was down 9.5% compared to the same quarter last year. As a group, analysts expect that MasterCraft Boat Holdings, Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Fund L.P. Forager bought 11,172 shares of the company's stock in a transaction on Thursday, April 17th. The shares were acquired at an average cost of $15.82 per share, with a total value of $176,741.04. Following the completion of the acquisition, the insider now owns 1,724,941 shares of the company's stock, valued at $27,288,566.62. The trade was a 0.65% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 77,420 shares of company stock valued at $1,261,191 over the last ninety days. Company insiders own 4.00% of the company's stock.

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.