Panagora Asset Management Inc. Purchases 45,492 Shares of MCBC Holdings Inc (MCFT)

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Panagora Asset Management Inc. boosted its position in shares of MCBC Holdings Inc (NASDAQ:MCFT) by 53.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 130,809 shares of the company’s stock after purchasing an additional 45,492 shares during the quarter. Panagora Asset Management Inc.’s holdings in MCBC were worth $4,693,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cadence Capital Management LLC increased its stake in shares of MCBC by 19.9% in the 3rd quarter. Cadence Capital Management LLC now owns 85,471 shares of the company’s stock valued at $3,067,000 after acquiring an additional 14,194 shares during the last quarter. Monarch Partners Asset Management LLC increased its stake in shares of MCBC by 27.8% in the 3rd quarter. Monarch Partners Asset Management LLC now owns 35,655 shares of the company’s stock valued at $1,279,000 after acquiring an additional 7,765 shares during the last quarter. Citadel Advisors LLC increased its stake in shares of MCBC by 24.3% in the 2nd quarter. Citadel Advisors LLC now owns 57,148 shares of the company’s stock valued at $1,654,000 after acquiring an additional 11,182 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of MCBC in the 2nd quarter valued at about $1,542,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of MCBC in the 2nd quarter valued at about $340,000. 91.75% of the stock is owned by hedge funds and other institutional investors.

In other MCBC news, insider Terry D. Mcnew bought 3,545 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was acquired at an average cost of $28.14 per share, with a total value of $99,756.30. Following the purchase, the insider now owns 320,062 shares in the company, valued at $9,006,544.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.79% of the stock is currently owned by corporate insiders.

NASDAQ MCFT opened at $22.62 on Friday. MCBC Holdings Inc has a 52-week low of $20.44 and a 52-week high of $39.50. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.77 and a quick ratio of 0.37. The company has a market cap of $444.45 million, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.59 and a beta of 1.26.

MCBC (NASDAQ:MCFT) last posted its earnings results on Friday, November 9th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. MCBC had a return on equity of 90.10% and a net margin of 11.37%. The business had revenue of $93.60 million during the quarter, compared to analysts’ expectations of $90.93 million. During the same period in the prior year, the business earned $0.40 EPS. MCBC’s revenue for the quarter was up 44.0% compared to the same quarter last year. As a group, sell-side analysts expect that MCBC Holdings Inc will post 2.69 earnings per share for the current year.

A number of analysts have recently commented on MCFT shares. BidaskClub raised MCBC from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Zacks Investment Research raised MCBC from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. ValuEngine raised MCBC from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. B. Riley upped their price target on MCBC from $28.00 to $36.50 and gave the company a “buy” rating in a research note on Friday, September 7th. Finally, Robert W. Baird upped their price target on MCBC from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, September 11th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.33.

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MCBC Profile

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. The company operates in two segments, MasterCraft and NauticStar. It offers sport boats and outboard boats, which are used for water skiing, wakeboarding, wake surfing, and fishing, as well as general recreational boating.

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Want to see what other hedge funds are holding MCFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MCBC Holdings Inc (NASDAQ:MCFT).

Institutional Ownership by Quarter for MCBC (NASDAQ:MCFT)

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