Mastercraft Boat (NASDAQ:MCFT) Director Peter Leemputte Acquires 1,265 Shares of Stock

Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) Director Peter Leemputte acquired 1,265 shares of Mastercraft Boat stock in a transaction on Friday, September 18th. The shares were bought at an average price of $19.73 per share, with a total value of $24,958.45. Following the purchase, the director directly owned 38,132 shares in the company, valued at approximately $752,344.36. The trade was a 3.43% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Mastercraft Boat Stock Down 0.7%

Shares of MCFT stock opened at $19.68 on Tuesday. Mastercraft Boat Holdings, Inc. has a 52-week low of $17.19 and a 52-week high of $28.44. The stock has a market cap of $479.01 million, a PE ratio of -983.51 and a beta of 1.07. The business has a 50-day simple moving average of $23.69 and a 200-day simple moving average of $23.04.

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

Institutional Investors Weigh In On Mastercraft Boat

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP boosted its holdings in shares of Mastercraft Boat by 37.5% during the 2nd quarter. Engineers Gate Manager LP now owns 22,704 shares of the company’s stock worth $586,000 after purchasing an additional 6,197 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Mastercraft Boat during the 2nd quarter worth $506,000. Pillsbury Lake Capital LLC acquired a new position in shares of Mastercraft Boat during the 2nd quarter valued at about $12,886,943. Bank of America Corp DE acquired a new position in shares of Mastercraft Boat during the 2nd quarter valued at about $1,194,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Mastercraft Boat in the second quarter valued at about $10,073,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MCFT. B. Riley Financial reaffirmed a “neutral” rating and set a $22.00 target price (down from $25.00) on shares of Mastercraft Boat in a report on Wednesday, September 16th. Robert W. Baird lowered their price target on shares of Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, September 11th. Weiss Ratings lowered shares of Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, September 11th. Truist Financial upped their price objective 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. Finally, Zacks Research lowered shares of Mastercraft Boat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $24.25.

About Mastercraft Boat

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company is best known for MasterCraft-branded performance boats, including wake, surf and ski boats designed for watersports and recreational use.

Its portfolio has also included Crest pontoon boats and Aviara luxury dayboats, serving customers seeking family-oriented boating, cruising and premium recreational vessels. The company sells its boats through a network of independent dealers and supports its products with parts, accessories and related services.

MasterCraft traces its origins to 1968 and is headquartered in Vonore, Tennessee.