Raymond James & Associates Raises Stake in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Raymond James & Associates increased its stake in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 149.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 16,559 shares of the company’s stock after acquiring an additional 9,934 shares during the period. Raymond James & Associates owned approximately 0.09% of MasterCraft Boat worth $508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in MasterCraft Boat by 143.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 829 shares of the company’s stock worth $25,000 after acquiring an additional 489 shares in the last quarter. Quarry LP acquired a new position in MasterCraft Boat during the 1st quarter worth approximately $41,000. Group One Trading L.P. lifted its position in MasterCraft Boat by 55.9% during the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares in the last quarter. Meeder Asset Management Inc. lifted its position in MasterCraft Boat by 44.7% during the 4th quarter. Meeder Asset Management Inc. now owns 1,435 shares of the company’s stock worth $37,000 after acquiring an additional 443 shares in the last quarter. Finally, FMR LLC lifted its position in MasterCraft Boat by 96.8% during the 1st quarter. FMR LLC now owns 1,787 shares of the company’s stock worth $54,000 after acquiring an additional 879 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Coliseum Capital Management, L acquired 132,146 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was purchased at an average cost of $22.07 per share, for a total transaction of $2,916,462.22. Following the purchase, the insider now directly owns 2,001,411 shares in the company, valued at $44,171,140.77. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Raymond James cut their target price on MasterCraft Boat from $40.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, August 31st. Stifel Nicolaus cut their target price on MasterCraft Boat from $33.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. DA Davidson cut their target price on MasterCraft Boat from $29.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, September 1st. StockNews.com initiated coverage on MasterCraft Boat in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, TheStreet downgraded MasterCraft Boat from a “b” rating to a “c+” rating in a report on Wednesday, September 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MasterCraft Boat has a consensus rating of “Moderate Buy” and a consensus target price of $24.83.

MasterCraft Boat Price Performance

Shares of MCFT opened at $20.00 on Thursday. The company has a market cap of $344 million, a P/E ratio of 5.12 and a beta of 1.78. The stock has a fifty day moving average price of $21.59 and a 200 day moving average price of $25.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 1.34. MasterCraft Boat Holdings, Inc. has a 12 month low of $19.25 and a 12 month high of $35.29.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Wednesday, August 30th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.30. The firm had revenue of $166.57 million during the quarter, compared to the consensus estimate of $161.88 million. MasterCraft Boat had a return on equity of 54.60% and a net margin of 10.41%. On average, research analysts forecast that MasterCraft Boat Holdings, Inc. will post 1.68 earnings per share for the current year.

About MasterCraft Boat

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.