Polar Asset Management Partners Inc. Takes $10.07 Million Position in Mastercraft Boat Holdings, Inc. $MCFT

Polar Asset Management Partners Inc. acquired a new stake in shares of Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 390,110 shares of the company’s stock, valued at approximately $10,073,000. Polar Asset Management Partners Inc. owned approximately 2.40% of Mastercraft Boat at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MCFT. State of Wyoming boosted its stake in Mastercraft Boat by 5.1% in the first quarter. State of Wyoming now owns 17,736 shares of the company’s stock worth $364,000 after buying an additional 867 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Mastercraft Boat by 1.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 70,694 shares of the company’s stock valued at $1,313,000 after acquiring an additional 1,188 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Mastercraft Boat by 12.2% during the fourth quarter. Russell Investments Group Ltd. now owns 10,988 shares of the company’s stock worth $208,000 after acquiring an additional 1,193 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Mastercraft Boat by 3.1% during the second quarter. First Trust Advisors LP now owns 41,276 shares of the company’s stock worth $767,000 after acquiring an additional 1,259 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Mastercraft Boat by 7.7% in the 4th quarter. Barclays PLC now owns 24,725 shares of the company’s stock worth $468,000 after acquiring an additional 1,769 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MCFT shares. Robert W. Baird set a $30.00 price objective on shares of Mastercraft Boat in a research note on Friday, May 8th. Truist Financial lifted their target price on shares of Mastercraft Boat from $25.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Weiss Ratings raised shares of Mastercraft Boat from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Finally, Zacks Research downgraded shares of Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Mastercraft Boat presently has a consensus rating of “Hold” and a consensus price target of $25.40.

Mastercraft Boat Stock Performance

NASDAQ:MCFT opened at $24.73 on Wednesday. The firm has a market cap of $402.60 million, a PE ratio of 36.37 and a beta of 1.06. Mastercraft Boat Holdings, Inc. has a fifty-two week low of $17.19 and a fifty-two week high of $28.44. The business has a 50 day moving average price of $24.51 and a 200-day moving average price of $23.22.

About Mastercraft Boat

MasterCraft Boat Holdings, Inc (NASDAQ: MCFT) is a designer, manufacturer and marketer of high-performance recreational powerboats. The company’s portfolio includes the MasterCraft®, Aviara®, Crest® Classic and Supra® brands, each of which features multiple model lines tailored for activities such as wakeboarding, waterskiing, cruising and luxury day boating. MasterCraft oversees the full product lifecycle from hull design and propulsion engineering to interior appointments and final assembly.

Founded in 1968 and headquartered in Vonore, Tennessee, MasterCraft has built a reputation for innovation in hull design, ballast systems and tower architecture to enhance wake performance and ride quality.