Wedge Capital Management L L P NC Trims Holdings in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Wedge Capital Management L L P NC trimmed its position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFTFree Report) by 24.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,526 shares of the company’s stock after selling 21,389 shares during the quarter. Wedge Capital Management L L P NC owned about 0.39% of MasterCraft Boat worth $1,128,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in MasterCraft Boat by 2.0% in the 4th quarter. Rhumbline Advisers now owns 27,432 shares of the company’s stock worth $523,000 after acquiring an additional 528 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in MasterCraft Boat by 7.5% during the 4th quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock valued at $149,000 after buying an additional 544 shares in the last quarter. SG Americas Securities LLC grew its holdings in 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 buying an additional 742 shares in the last quarter. Isthmus Partners LLC grew its holdings in MasterCraft Boat by 0.7% during the 4th quarter. Isthmus Partners LLC now owns 118,886 shares of the company’s stock valued at $2,267,000 after buying an additional 773 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in MasterCraft Boat by 0.6% during the 4th quarter. Northern Trust Corp now owns 133,422 shares of the company’s stock valued at $2,544,000 after buying an additional 791 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MCFT shares. Baird R W downgraded MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Truist Financial increased their target price on MasterCraft Boat from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Thursday, May 8th. B. Riley upgraded MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. Raymond James lowered their target price on MasterCraft Boat from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded MasterCraft Boat from a “sell” rating to a “hold” rating in a research report on Saturday, May 10th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.00.

View Our Latest Report on MCFT

MasterCraft Boat Stock Up 2.9%

MasterCraft Boat stock opened at $18.89 on Wednesday. MasterCraft Boat Holdings, Inc. has a 52 week low of $14.39 and a 52 week high of $23.00. The company has a market capitalization of $313.67 million, a price-to-earnings ratio of -47.22 and a beta of 1.01. The stock has a 50-day moving average price of $16.71 and a 200 day moving average price of $17.98.

MasterCraft Boat (NASDAQ:MCFTGet Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.12. The company had revenue of $75.96 million during the quarter, compared to the consensus estimate of $75.15 million. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. MasterCraft Boat’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 earnings per share. Research analysts anticipate that MasterCraft Boat Holdings, Inc. will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling at MasterCraft Boat

In other news, major shareholder Fund L.P. Forager bought 4,658 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were purchased at an average price of $15.09 per share, with a total value of $70,289.22. Following the purchase, the insider now owns 1,702,353 shares in the company, valued at approximately $25,688,506.77. The trade was a 0.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders purchased a total of 77,420 shares of company stock worth $1,261,191 in the last three months. 4.00% of the stock is owned by corporate insiders.

About MasterCraft Boat

(Free Report)

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.

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Institutional Ownership by Quarter for MasterCraft Boat (NASDAQ:MCFT)

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