Principal Financial Group Inc. Acquires Shares of 10,509 MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

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

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 third quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock worth $30,915,000 after buying an additional 390,405 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in 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 worth $234,000 after acquiring an additional 2,620 shares during the period. Systematic Financial Management LP lifted its stake in MasterCraft Boat by 6.8% in the 3rd quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock worth $18,731,000 after purchasing an additional 65,412 shares in the last quarter. Quest Partners LLC bought a new position in shares of MasterCraft Boat in the third quarter worth $150,000. Finally, Empowered Funds LLC grew its position in MasterCraft Boat by 2.1% during the third quarter. Empowered Funds LLC now owns 192,029 shares of the company’s stock worth $3,497,000 after buying an additional 4,036 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MCFT has been the subject of a number of research reports. StockNews.com raised shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Truist Financial reduced their target price on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday. DA Davidson lifted their price target on MasterCraft Boat from $17.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, B. Riley increased their price objective on MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.75.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $18.83 per share, with a total value of $1,035,650.00. Following the completion of the purchase, the insider now directly owns 3,562,615 shares in the company, valued at approximately $67,084,040.45. This represents a 1.57 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.

MasterCraft Boat Price Performance

Shares of NASDAQ:MCFT opened at $18.04 on Wednesday. The company’s fifty day moving average is $19.90 and its 200 day moving average is $19.05. MasterCraft Boat Holdings, Inc. has a 52 week low of $16.12 and a 52 week high of $24.05. The stock has a market cap of $303.00 million, a PE ratio of -78.43 and a beta of 1.67. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.28.

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

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.