Wellington Management Group LLP Reduces Stake in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Wellington Management Group LLP lessened its stake in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT - Free Report) by 23.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 235,424 shares of the company's stock after selling 72,600 shares during the period. Wellington Management Group LLP owned 1.40% of MasterCraft Boat worth $4,490,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MCFT. SG Americas Securities LLC raised its holdings in shares of MasterCraft Boat by 10.7% during the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company's stock valued at $146,000 after purchasing an additional 742 shares during the period. JPMorgan Chase & Co. increased its position in MasterCraft Boat by 7.5% in the 4th quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company's stock valued at $149,000 after buying an additional 544 shares in the last quarter. Principal Financial Group Inc. acquired a new position in MasterCraft Boat during the 3rd quarter worth approximately $191,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in MasterCraft Boat by 106.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 12,200 shares of the company's stock worth $233,000 after acquiring an additional 6,300 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in MasterCraft Boat by 25.6% in the third quarter. Public Employees Retirement System of Ohio now owns 12,854 shares of the company's stock worth $234,000 after acquiring an additional 2,620 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

MasterCraft Boat Stock Up 1.2 %

MCFT stock traded up $0.19 during trading on Thursday, reaching $15.62. The stock had a trading volume of 13,136 shares, compared to its average volume of 140,213. The company has a market capitalization of $261.61 million, a price-to-earnings ratio of -38.97 and a beta of 1.34. MasterCraft Boat Holdings, Inc. has a one year low of $14.39 and a one year high of $23.00. The company's 50 day moving average is $17.34 and its two-hundred day moving average is $18.40.

MasterCraft Boat (NASDAQ:MCFT - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. As a group, research analysts predict that MasterCraft Boat Holdings, Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MCFT. Truist Financial lowered their target price on MasterCraft Boat from $22.00 to $16.00 and set a "hold" rating on the stock in a research report on Monday. Robert W. Baird reaffirmed a "neutral" rating and issued a $20.00 price objective (down from $26.00) on shares of MasterCraft Boat in a research note on Friday, April 4th. DA Davidson lowered their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. StockNews.com raised shares of MasterCraft Boat from a "sell" rating to a "hold" rating in a research report on Wednesday. Finally, B. Riley raised MasterCraft Boat to a "hold" rating in a report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $19.60.

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.