Wellington Management Group LLP Buys 59,200 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Wellington Management Group LLP raised its stake in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 590,100 shares of the company’s stock after purchasing an additional 59,200 shares during the quarter. Wellington Management Group LLP owned approximately 3.47% of MasterCraft Boat worth $13,360,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. CastleKnight Management LP bought a new position in MasterCraft Boat in the fourth quarter valued at approximately $263,000. Isthmus Partners LLC grew its stake in MasterCraft Boat by 5.3% in the fourth quarter. Isthmus Partners LLC now owns 85,227 shares of the company’s stock valued at $1,930,000 after purchasing an additional 4,252 shares in the last quarter. Quest Partners LLC bought a new position in MasterCraft Boat in the fourth quarter valued at approximately $393,000. Dynamic Technology Lab Private Ltd bought a new position in MasterCraft Boat in the fourth quarter valued at approximately $608,000. Finally, Janney Montgomery Scott LLC grew its stake in MasterCraft Boat by 17.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,661 shares of the company’s stock valued at $490,000 after purchasing an additional 3,145 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Coliseum Capital Management, L acquired 60,000 shares of the stock in a transaction on Friday, April 12th. The shares were purchased at an average price of $21.84 per share, for a total transaction of $1,310,400.00. Following the purchase, the insider now directly owns 2,224,284 shares in the company, valued at $48,578,362.56. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders bought 850,938 shares of company stock valued at $17,504,582. Insiders own 2.50% of the company’s stock.

MasterCraft Boat Stock Performance

NASDAQ:MCFT opened at $18.94 on Thursday. The stock has a market cap of $321.60 million, a P/E ratio of 8.53 and a beta of 1.61. The stock has a 50 day simple moving average of $20.46 and a 200 day simple moving average of $21.33. The company has a current ratio of 2.02, a quick ratio of 1.54 and a debt-to-equity ratio of 0.23. MasterCraft Boat Holdings, Inc. has a 1-year low of $18.01 and a 1-year high of $31.70.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. The business had revenue of $95.71 million during the quarter, compared to analysts’ expectations of $92.32 million. MasterCraft Boat had a return on equity of 21.71% and a net margin of 8.26%. Research analysts anticipate that MasterCraft Boat Holdings, Inc. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MCFT. B. Riley cut their price objective on MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Stifel Nicolaus cut their price objective on MasterCraft Boat from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.00.

MasterCraft Boat 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.