MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Sees Significant Growth in Short Interest

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT - Get Free Report) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 823,900 shares, an increase of 20.3% from the April 15th total of 684,700 shares. Based on an average daily trading volume, of 139,000 shares, the days-to-cover ratio is currently 5.9 days. Currently, 5.0% of the company's stock are sold short.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. B. Riley reduced their price objective on MasterCraft Boat from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 16th. Stifel Nicolaus decreased their target price on MasterCraft Boat from $27.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $24.00.

MasterCraft Boat Stock Performance

Shares of NASDAQ MCFT traded down $0.06 during midday trading on Wednesday, hitting $20.50. The company's stock had a trading volume of 194,862 shares, compared to its average volume of 134,182. The firm has a market cap of $348.09 million, a P/E ratio of 9.23 and a beta of 1.65. MasterCraft Boat has a 1-year low of $18.01 and a 1-year high of $31.70. The firm's fifty day moving average price is $21.53 and its 200-day moving average price is $21.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.54 and a current ratio of 2.02.

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L purchased 47,500 shares of the company's stock in a transaction on Wednesday, May 8th. The shares were acquired at an average price of $19.13 per share, for a total transaction of $908,675.00. Following the purchase, the insider now owns 2,404,906 shares in the company, valued at $46,005,851.78. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have acquired a total of 417,201 shares of company stock worth $8,796,912 in the last ninety days. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MCFT. Bank of New York Mellon Corp lifted its stake in MasterCraft Boat by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 107,388 shares of the company's stock valued at $2,386,000 after purchasing an additional 1,585 shares during the last quarter. Strs Ohio lifted its position in MasterCraft Boat by 31.9% in the 3rd quarter. Strs Ohio now owns 26,900 shares of the company's stock worth $597,000 after buying an additional 6,500 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of MasterCraft Boat by 60.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,198 shares of the company's stock worth $160,000 after purchasing an additional 2,703 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of MasterCraft Boat during the 3rd quarter worth $224,000. Finally, LSV Asset Management grew its stake in MasterCraft Boat by 3.8% in the 3rd quarter. LSV Asset Management now owns 75,119 shares of the company's stock valued at $1,669,000 after buying an additional 2,719 shares during the last quarter. Institutional investors own 97.64% 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.

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