StockNews.com Downgrades MasterCraft Boat (NASDAQ:MCFT) to Sell

MasterCraft Boat (NASDAQ:MCFT) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

MCFT has been the topic of several other reports. Truist Financial decreased their price target on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, January 7th. DA Davidson decreased their price target on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Finally, B. Riley upgraded shares of MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, MasterCraft Boat presently has an average rating of “Hold” and an average target price of $20.50.

MasterCraft Boat Stock Up 0.3 %

NASDAQ MCFT opened at $18.08 on Friday. The company has a market cap of $302.89 million, a PE ratio of -45.20 and a beta of 1.71. MasterCraft Boat has a 52 week low of $16.12 and a 52 week high of $24.05. The firm’s 50-day simple moving average is $18.45 and its two-hundred day simple moving average is $18.73.

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

Insider Buying and Selling

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of MasterCraft Boat stock in a transaction on Monday, December 30th. The shares were acquired at an average cost of $18.83 per share, for a total transaction of $1,035,650.00. Following the completion of the transaction, the insider now directly owns 3,562,615 shares of the company’s stock, valued at approximately $67,084,040.45. The trade was a 1.57 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 4.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC grew its position in MasterCraft Boat by 144.1% during the fourth quarter. Squarepoint Ops LLC now owns 14,534 shares of the company’s stock valued at $277,000 after acquiring an additional 47,510 shares during the last quarter. State of Wyoming bought a new position in MasterCraft Boat during the fourth quarter valued at approximately $108,000. Systematic Financial Management LP grew its position in MasterCraft Boat by 4.2% during the fourth quarter. Systematic Financial Management LP now owns 1,071,424 shares of the company’s stock valued at $20,432,000 after acquiring an additional 42,839 shares during the last quarter. Coliseum Capital Management LLC grew its position in MasterCraft Boat by 5.6% during the fourth quarter. Coliseum Capital Management LLC now owns 3,562,615 shares of the company’s stock valued at $67,939,000 after acquiring an additional 189,945 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its position in MasterCraft Boat by 3.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 133,256 shares of the company’s stock valued at $2,541,000 after acquiring an additional 3,893 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

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.