KLP Kapitalforvaltning AS Acquires New Position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

KLP Kapitalforvaltning AS bought a new position in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,500 shares of the company’s stock, valued at approximately $448,000. KLP Kapitalforvaltning AS owned 0.14% of MasterCraft Boat at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of MCFT. Forager Capital Management LLC lifted its holdings in shares of MasterCraft Boat by 29.9% in the 3rd quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock worth $30,915,000 after acquiring an additional 390,405 shares during the last quarter. LHM Inc. purchased a new stake in MasterCraft Boat in the fourth quarter valued at approximately $1,636,000. American Century Companies Inc. lifted its stake in MasterCraft Boat by 4.0% during the fourth quarter. American Century Companies Inc. now owns 445,259 shares of the company’s stock worth $8,491,000 after purchasing an additional 17,118 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of MasterCraft Boat during the third quarter worth $191,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of MasterCraft Boat by 106.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 12,200 shares of the company’s stock valued at $233,000 after buying an additional 6,300 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on MCFT shares. B. Riley upgraded shares of MasterCraft Boat to a “hold” rating in a research note on Wednesday, February 12th. DA Davidson reduced their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 price objective (down previously from $26.00) on shares of MasterCraft Boat in a research report on Friday. StockNews.com upgraded MasterCraft Boat from a “sell” rating to a “hold” rating in a report on Saturday, March 15th. Finally, Truist Financial cut their price target on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.40.

MasterCraft Boat Trading Down 4.3 %

MasterCraft Boat stock opened at $15.70 on Friday. The stock has a 50-day moving average price of $17.97 and a 200 day moving average price of $18.57. MasterCraft Boat Holdings, Inc. has a 52 week low of $15.33 and a 52 week high of $23.12. The stock has a market cap of $263.02 million, a PE ratio of -39.25 and a beta of 1.71.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, equities analysts predict that MasterCraft Boat Holdings, Inc. will post 0.62 EPS for the current year.

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.