Wedge Capital Management L L P NC decreased its position in MCBC Holdings Inc (NASDAQ:MCFT) by 23.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,303 shares of the company’s stock after selling 6,353 shares during the quarter. Wedge Capital Management L L P NC’s holdings in MCBC were worth $764,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MCFT. Voya Investment Management LLC bought a new stake in shares of MCBC in the 2nd quarter valued at approximately $201,000. Capital Fund Management S.A. bought a new stake in shares of MCBC in the 2nd quarter valued at approximately $208,000. Mackay Shields LLC bought a new stake in shares of MCBC in the 2nd quarter valued at approximately $226,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of MCBC in the 2nd quarter valued at approximately $340,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of MCBC in the 2nd quarter valued at approximately $365,000. 95.01% of the stock is owned by institutional investors and hedge funds.
MCFT has been the subject of several recent research reports. SunTrust Banks boosted their price target on MCBC to $30.00 in a research note on Thursday, October 11th. B. Riley boosted their price target on MCBC from $28.00 to $36.50 and gave the company a “buy” rating in a research note on Friday, September 7th. BidaskClub raised MCBC from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. ValuEngine raised MCBC from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Finally, Zacks Investment Research raised MCBC from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Wednesday, September 19th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $40.33.
Shares of MCBC stock opened at $27.66 on Friday. The company has a market cap of $612.54 million, a price-to-earnings ratio of 13.63, a P/E/G ratio of 0.83 and a beta of 1.31. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.73 and a quick ratio of 0.33. MCBC Holdings Inc has a 12-month low of $20.13 and a 12-month high of $39.50.
MCBC (NASDAQ:MCFT) last announced its earnings results on Friday, November 9th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $93.60 million during the quarter, compared to analysts’ expectations of $90.93 million. MCBC had a return on equity of 108.42% and a net margin of 11.92%. The company’s revenue was up 44.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. As a group, equities analysts predict that MCBC Holdings Inc will post 2.62 EPS for the current fiscal year.
MCBC Holdings, Inc, through its subsidiaries, innovates, designs, manufactures, and markets sport boats and outboard boats in North America and internationally. The company's boats are used for water skiing, wakeboarding, wake surfing, and fishing, as well as general recreational boating. It also provides various accessories, such as trailers and aftermarket parts.
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