Geode Capital Management LLC Sells 14,597 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Geode Capital Management LLC decreased its stake in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 359,469 shares of the company’s stock after selling 14,597 shares during the quarter. Geode Capital Management LLC owned about 2.14% of MasterCraft Boat worth $6,547,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Systematic Financial Management LP increased its position in MasterCraft Boat by 6.8% during the third quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock valued at $18,731,000 after acquiring an additional 65,412 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MasterCraft Boat by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock worth $13,484,000 after purchasing an additional 82,509 shares during the last quarter. American Century Companies Inc. increased its stake in MasterCraft Boat by 14.8% in the 2nd quarter. American Century Companies Inc. now owns 395,570 shares of the company’s stock worth $7,468,000 after buying an additional 51,016 shares during the period. Renaissance Technologies LLC lifted its holdings in MasterCraft Boat by 0.7% during the 2nd quarter. Renaissance Technologies LLC now owns 214,400 shares of the company’s stock valued at $4,048,000 after buying an additional 1,400 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of MasterCraft Boat by 2.1% during the third quarter. Empowered Funds LLC now owns 192,029 shares of the company’s stock valued at $3,497,000 after acquiring an additional 4,036 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

MCFT has been the subject of a number of research reports. StockNews.com raised shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. B. Riley raised their price objective on MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Truist Financial lifted their price target on shares of MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Finally, DA Davidson increased their price target on MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.25.

MasterCraft Boat Stock Performance

MCFT opened at $18.78 on Friday. The firm has a fifty day moving average price of $19.86 and a 200 day moving average price of $19.07. MasterCraft Boat Holdings, Inc. has a 1 year low of $16.12 and a 1 year high of $24.05. The stock has a market cap of $315.43 million, a P/E ratio of -81.65 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.49.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.55%. The business had revenue of $65.40 million during the quarter, compared to the consensus estimate of $61.19 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The company’s revenue was down 37.2% compared to the same quarter last year. Equities research analysts anticipate that MasterCraft Boat Holdings, Inc. will post 0.61 earnings per share for the current year.

Insider Transactions at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L bought 55,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was acquired at an average price of $18.83 per share, with a total value of $1,035,650.00. Following the completion of the purchase, the insider now directly owns 3,562,615 shares of the company’s stock, valued at approximately $67,084,040.45. This trade represents a 1.57 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.00% of the company’s stock.

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.