Principal Financial Group Inc. Raises Stock Position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Principal Financial Group Inc. grew its holdings in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,502 shares of the company’s stock after acquiring an additional 993 shares during the period. Principal Financial Group Inc. owned 0.07% of MasterCraft Boat worth $219,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MCFT. Rhumbline Advisers raised its position in shares of MasterCraft Boat by 2.0% during the 4th quarter. Rhumbline Advisers now owns 27,432 shares of the company’s stock valued at $523,000 after purchasing an additional 528 shares during the period. SG Americas Securities LLC raised its position in shares of MasterCraft Boat by 10.7% during the 4th quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock valued at $146,000 after purchasing an additional 742 shares during the period. US Bancorp DE raised its position 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 purchasing an additional 2,000 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of MasterCraft Boat by 25.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,854 shares of the company’s stock valued at $234,000 after purchasing an additional 2,620 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of MasterCraft Boat by 5.2% during the 3rd quarter. Victory Capital Management Inc. now owns 71,682 shares of the company’s stock valued at $1,305,000 after purchasing an additional 3,568 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Insider Activity

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of MasterCraft Boat stock in a transaction dated Monday, December 30th. The stock was acquired at an average price of $18.83 per share, for a total transaction of $1,035,650.00. Following the acquisition, the insider now owns 3,562,615 shares in the company, valued at $67,084,040.45. This trade represents a 1.57 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.

MasterCraft Boat Price Performance

Shares of MCFT opened at $18.08 on Friday. 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 of $18.46 and a 200 day moving average of $18.75. The firm has a market capitalization of $302.89 million, a price-to-earnings ratio of -45.20 and a beta of 1.67.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.74%. On average, equities analysts anticipate that MasterCraft Boat Holdings, Inc. will post 0.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MCFT has been the subject of several research analyst reports. DA Davidson cut their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. B. Riley raised shares of MasterCraft Boat to a “hold” rating in a research note on Wednesday, February 12th. StockNews.com cut shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Truist Financial dropped their price target on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.50.

About MasterCraft Boat

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.