Principal Financial Group Inc. Invests $191,000 in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Principal Financial Group Inc. acquired a new stake in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,509 shares of the company’s stock, valued at approximately $191,000. Principal Financial Group Inc. owned approximately 0.06% of MasterCraft Boat as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Isthmus Partners LLC boosted its position in shares of MasterCraft Boat by 0.4% during the 2nd quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock valued at $28,000 after purchasing an additional 532 shares in the last quarter. US Bancorp DE lifted its holdings in shares of MasterCraft Boat by 64.0% during the 3rd quarter. US Bancorp DE now owns 5,123 shares of the company’s stock valued at $93,000 after buying an additional 2,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in MasterCraft Boat by 191.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,250 shares of the company’s stock valued at $98,000 after buying an additional 3,450 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of MasterCraft Boat in the third quarter worth $126,000. Finally, Squarepoint Ops LLC acquired a new position in shares of MasterCraft Boat during the 2nd quarter worth about $190,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

MasterCraft Boat Stock Up 2.5 %

Shares of NASDAQ MCFT opened at $21.88 on Tuesday. The stock has a market capitalization of $367.58 million, a P/E ratio of -95.13 and a beta of 1.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.49. MasterCraft Boat Holdings, Inc. has a 1 year low of $16.12 and a 1 year high of $24.05. The company has a 50-day moving average price of $18.46 and a 200-day moving average price of $19.23.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.55%. The business had revenue of $65.40 million during the quarter, compared to analyst estimates of $61.19 million. During the same period in the previous year, the business earned $0.43 EPS. MasterCraft Boat’s revenue was down 37.2% compared to the same quarter last year. On average, equities research analysts forecast that MasterCraft Boat Holdings, Inc. will post 0.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MCFT has been the subject of a number of analyst reports. B. Riley lifted their price objective on MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Truist Financial raised their price objective on shares of MasterCraft Boat from $15.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. StockNews.com downgraded MasterCraft Boat from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $22.00 price objective on shares of MasterCraft Boat in a research note on Friday, August 30th. Finally, DA Davidson increased their target price on MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.25.

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.