Russell Investments Group Ltd. Trims Holdings in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Russell Investments Group Ltd. decreased its stake in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 10.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,778 shares of the company’s stock after selling 1,662 shares during the period. Russell Investments Group Ltd. owned 0.08% of MasterCraft Boat worth $263,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rhumbline Advisers grew its stake in MasterCraft Boat by 2.0% during the fourth quarter. Rhumbline Advisers now owns 27,432 shares of the company’s stock valued at $523,000 after acquiring an additional 528 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of MasterCraft Boat by 7.5% in the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock worth $149,000 after purchasing an additional 544 shares during the period. SG Americas Securities LLC raised its position in shares of MasterCraft Boat by 10.7% in the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock worth $146,000 after buying an additional 742 shares in the last quarter. Isthmus Partners LLC boosted its stake in MasterCraft Boat by 0.7% during the fourth quarter. Isthmus Partners LLC now owns 118,886 shares of the company’s stock valued at $2,267,000 after buying an additional 773 shares during the period. Finally, Principal Financial Group Inc. grew its position in MasterCraft Boat by 9.4% during the fourth quarter. Principal Financial Group Inc. now owns 11,502 shares of the company’s stock worth $219,000 after buying an additional 993 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Insider Buying and Selling at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Fund L.P. Forager bought 11,172 shares of the business’s stock in a transaction that occurred on Thursday, April 17th. The shares were bought at an average cost of $15.82 per share, with a total value of $176,741.04. Following the completion of the purchase, the insider now directly owns 1,724,941 shares of the company’s stock, valued at $27,288,566.62. This trade represents a 0.65 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders have bought 35,220 shares of company stock worth $561,969. 4.00% of the stock is currently owned by company insiders.

MasterCraft Boat Stock Up 2.1 %

NASDAQ MCFT opened at $16.60 on Friday. The company has a 50-day simple moving average of $16.98 and a two-hundred day simple moving average of $18.33. MasterCraft Boat Holdings, Inc. has a 12-month low of $14.39 and a 12-month high of $23.00. The firm has a market cap of $278.10 million, a price-to-earnings ratio of -41.50 and a beta of 1.34.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. Equities analysts expect that MasterCraft Boat Holdings, Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial dropped their price target on MasterCraft Boat from $22.00 to $16.00 and set a “hold” rating for the company in a research report on Monday, April 14th. DA Davidson dropped their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. B. Riley raised shares of MasterCraft Boat to a “hold” rating in a report on Wednesday, February 12th. Robert W. Baird restated a “neutral” rating and set a $20.00 price target (down previously from $26.00) on shares of MasterCraft Boat in a research report on Friday, April 4th. Finally, StockNews.com cut MasterCraft Boat from a “hold” rating to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.60.

MasterCraft Boat Company Profile

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.