42,533 Shares in Mastercraft Boat Holdings, Inc. $MCFT Purchased by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC bought a new position in shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 42,533 shares of the company’s stock, valued at approximately $775,000.

Other hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue raised its position in Mastercraft Boat by 56.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,543 shares of the company’s stock worth $69,000 after purchasing an additional 1,279 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Mastercraft Boat by 196.9% during the 3rd quarter. Versant Capital Management Inc now owns 2,527 shares of the company’s stock worth $50,000 after buying an additional 1,676 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in Mastercraft Boat by 37.5% during the 2nd quarter. Engineers Gate Manager LP now owns 22,704 shares of the company’s stock worth $586,000 after buying an additional 6,197 shares in the last quarter. Empowered Funds LLC acquired a new position in Mastercraft Boat during the 2nd quarter worth $506,000. Finally, Pillsbury Lake Capital LLC acquired a new position in Mastercraft Boat during the 2nd quarter worth $12,886,943. 97.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Weiss Ratings lowered Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, September 11th. Zacks Research downgraded Mastercraft Boat from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 15th. Wall Street Zen raised Mastercraft Boat to a “hold” rating in a research note on Saturday, October 10th. B. Riley Financial reaffirmed a “neutral” rating and set a $22.00 price target (down from $25.00) on shares of Mastercraft Boat in a research note on Wednesday, September 16th. Finally, Truist Financial raised their price target on Mastercraft Boat from $25.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 6th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Mastercraft Boat has a consensus rating of “Reduce” and an average target price of $24.25.

Mastercraft Boat Trading Down 1.5%

Shares of NASDAQ MCFT opened at $19.64 on Friday. Mastercraft Boat Holdings, Inc. has a 1 year low of $17.19 and a 1 year high of $28.44. The firm’s 50-day moving average is $21.87 and its 200-day moving average is $22.94. The firm has a market capitalization of $475.68 million, a PE ratio of -981.51 and a beta of 1.11.

Mastercraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Thursday, September 10th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Mastercraft Boat had a negative net margin of 0.48% and a positive return on equity of 11.08%. The business had revenue of $129.94 million during the quarter, compared to the consensus estimate of $101.79 million. During the same period in the previous year, the firm posted $0.40 earnings per share. Mastercraft Boat’s revenue for the quarter was up 63.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Mastercraft Boat Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Mastercraft Boat Profile

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company is best known for performance-oriented ski and wake boats, and also offers luxury day boats and outboard-powered boats for watersports, cruising and general recreation.

Its primary brands include MasterCraft, which focuses on premium inboard performance boats; Crest, which produces luxury pontoon boats; and Aviara, which offers luxury day boats and related recreational vessels. The company sells its products through a network of dealers serving customers in North America and selected international markets.

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