CenterBook Partners LP Makes New $8.03 Million Investment in Mastercraft Boat Holdings, Inc. $MCFT

CenterBook Partners LP bought a new position in shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 405,321 shares of the company’s stock, valued at approximately $8,025,000. CenterBook Partners LP owned about 1.67% of Mastercraft Boat as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Inspire Investing LLC grew its holdings in shares of Mastercraft Boat by 20.7% during the third quarter. Inspire Investing LLC now owns 32,009 shares of the company’s stock worth $634,000 after buying an additional 5,499 shares in the last quarter. SummerHaven Investment Management LLC acquired a new position in shares of Mastercraft Boat during the 3rd quarter worth approximately $775,000. State of Alaska Department of Revenue increased its position in shares of Mastercraft Boat by 56.5% in the third quarter. State of Alaska Department of Revenue now owns 3,543 shares of the company’s stock worth $69,000 after purchasing an additional 1,279 shares during the period. Versant Capital Management Inc increased its stake in Mastercraft Boat by 196.9% in the third quarter. Versant Capital Management Inc now owns 2,527 shares of the company’s stock valued at $50,000 after acquiring an additional 1,676 shares during the last quarter. Finally, Engineers Gate Manager LP raised its stake in Mastercraft Boat by 37.5% during the second quarter. Engineers Gate Manager LP now owns 22,704 shares of the company’s stock worth $586,000 after acquiring an additional 6,197 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Mastercraft Boat Stock Down 2.0%

Shares of NASDAQ MCFT traded down $0.42 during trading on Friday, reaching $20.36. The company had a trading volume of 143,458 shares, compared to its average volume of 153,310. Mastercraft Boat Holdings, Inc. has a 12-month low of $17.19 and a 12-month high of $28.44. The stock has a market cap of $493.12 million, a PE ratio of -1,017.49 and a beta of 1.10. The business’s 50-day moving average is $20.59 and its 200 day moving average is $22.50.

Mastercraft Boat (NASDAQ:MCFT) last announced its earnings results on Thursday, September 10th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $129.94 million for the quarter, compared to analysts’ expectations of $101.79 million. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%. The business’s revenue for the quarter was up 63.4% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share. On average, analysts anticipate that Mastercraft Boat Holdings, Inc. will post 1.66 earnings per share for the current year.

Analysts Set New Price Targets

MCFT has been the topic of a number of analyst reports. Zacks Research lowered Mastercraft Boat from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 15th. Truist Financial cut their price objective on shares of Mastercraft Boat from $28.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday, October 23rd. B. Riley Financial reissued a “neutral” rating and issued a $22.00 price objective (down from $25.00) on shares of Mastercraft Boat in a research note on Wednesday, September 16th. Weiss Ratings cut Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, September 11th. Finally, Wall Street Zen upgraded Mastercraft Boat to a “hold” rating in a research note on Saturday, October 10th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $22.75.

Mastercraft Boat Profile

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company serves the premium marine market with boats intended for water sports, cruising, fishing and general leisure use.

Its portfolio has included MasterCraft performance ski and wake boats, Crest pontoon boats and Aviara luxury day boats. MasterCraft boats are known for water-sports features such as wake-shaping systems, while the company’s other brands address broader recreational boating needs, including spacious pontoon and luxury day-boat segments.

Founded in 1968, MasterCraft is headquartered in Vonore, Tennessee, and distributes its products through a network of independent dealers in North America and selected international markets.