Victory Capital Management Inc. Reduces Stock Holdings in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Victory Capital Management Inc. lowered its position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,114 shares of the company’s stock after selling 5,621 shares during the quarter. Victory Capital Management Inc. owned 0.40% of MasterCraft Boat worth $1,286,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MCFT. Wasatch Advisors LP increased its position in shares of MasterCraft Boat by 34.2% in the first quarter. Wasatch Advisors LP now owns 381,471 shares of the company’s stock valued at $9,048,000 after buying an additional 97,170 shares in the last quarter. Isthmus Partners LLC increased its position in shares of MasterCraft Boat by 71.5% in the first quarter. Isthmus Partners LLC now owns 146,174 shares of the company’s stock valued at $3,467,000 after buying an additional 60,947 shares in the last quarter. Wellington Management Group LLP increased its position in shares of MasterCraft Boat by 11.2% in the fourth quarter. Wellington Management Group LLP now owns 590,100 shares of the company’s stock valued at $13,360,000 after buying an additional 59,200 shares in the last quarter. Comerica Bank increased its position in shares of MasterCraft Boat by 27,130.8% in the first quarter. Comerica Bank now owns 56,640 shares of the company’s stock valued at $1,343,000 after buying an additional 56,432 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of MasterCraft Boat by 28.1% in the first quarter. Empowered Funds LLC now owns 183,617 shares of the company’s stock valued at $4,355,000 after buying an additional 40,302 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on MCFT shares. Truist Financial reiterated a “hold” rating and set a $15.00 price objective on shares of MasterCraft Boat in a research report on Friday, August 30th. DA Davidson dropped their price objective on MasterCraft Boat from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. StockNews.com cut MasterCraft Boat from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd. B. Riley dropped their price objective on MasterCraft Boat from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $22.00 price objective on shares of MasterCraft Boat in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, MasterCraft Boat presently has an average rating of “Hold” and a consensus price target of $19.20.

Insider Buying and Selling at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L purchased 38,462 shares of the stock in a transaction on Monday, June 24th. The stock was bought at an average price of $19.58 per share, for a total transaction of $753,085.96. Following the acquisition, the insider now directly owns 3,372,670 shares of the company’s stock, valued at $66,036,878.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is owned by company insiders.

MasterCraft Boat Stock Up 2.2 %

MCFT opened at $18.35 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.99 and a quick ratio of 1.42. The stock has a market capitalization of $311.60 million, a price-to-earnings ratio of 8.27 and a beta of 1.61. The business has a 50-day moving average of $19.32 and a two-hundred day moving average of $20.25. MasterCraft Boat Holdings, Inc. has a 12 month low of $16.23 and a 12 month high of $24.05.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Thursday, August 29th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.18. The company had revenue of $67.20 million during the quarter, compared to analysts’ expectations of $63.10 million. MasterCraft Boat had a return on equity of 9.44% and a net margin of 2.13%. The firm’s revenue was down 59.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 EPS. On average, research analysts expect that MasterCraft Boat Holdings, Inc. will post 0.49 earnings per share for the current year.

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.