MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) Major Shareholder Fund L.P. Forager Buys 32,378 Shares

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) major shareholder Fund L.P. Forager bought 32,378 shares of the stock in a transaction on Thursday, May 1st. The stock was acquired at an average cost of $16.66 per share, for a total transaction of $539,417.48. Following the acquisition, the insider now directly owns 1,802,975 shares in the company, valued at approximately $30,037,563.50. The trade was a 1.83 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Fund L.P. Forager also recently made the following trade(s):

• On Tuesday, April 29th, Fund L.P. Forager acquired 9,822 shares of MasterCraft Boat stock. The stock was acquired at an average cost of $16.27 per share, with a total value of $159,803.94.
• On Wednesday, April 23rd, Fund L.P. Forager bought 14,827 shares of MasterCraft Boat stock. The shares were bought at an average price of $16.32 per share, with a total value of $241,976.64.
• On Monday, April 21st, Fund L.P. Forager purchased 4,563 shares of MasterCraft Boat stock. The stock was bought at an average price of $15.99 per share, for a total transaction of $72,962.37.
• On Thursday, April 17th, Fund L.P. Forager bought 11,172 shares of MasterCraft Boat stock. The stock was bought at an average price of $15.82 per share, with a total value of $176,741.04.
• On Tuesday, April 15th, Fund L.P. Forager purchased 4,658 shares of MasterCraft Boat stock. The shares were purchased at an average price of $15.09 per share, for a total transaction of $70,289.22.

MasterCraft Boat Price Performance

NASDAQ MCFT opened at $16.92 on Friday. The stock’s 50 day simple moving average is $16.76 and its 200 day simple moving average is $18.31. MasterCraft Boat Holdings, Inc. has a one year low of $14.39 and a one year high of $23.00. The firm has a market cap of $283.46 million, a PE ratio of -42.30 and a beta of 1.12.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Thursday, February 6th. The company reported $0.05 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%. As a group, equities analysts expect that MasterCraft Boat Holdings, Inc. will post 0.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MCFT. StockNews.com upgraded shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research report on Friday. Robert W. Baird reiterated a “neutral” rating and issued a $20.00 price objective (down from $26.00) on shares of MasterCraft Boat in a research note on Friday, April 4th. B. Riley upgraded MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. Baird R W cut MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, DA Davidson cut their price objective on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.60.

Hedge Funds Weigh In On MasterCraft Boat

A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. increased its holdings in shares of MasterCraft Boat by 32.0% in the fourth quarter. Franklin Resources Inc. now owns 254,193 shares of the company’s stock valued at $4,847,000 after purchasing an additional 61,554 shares in the last quarter. Principal Financial Group Inc. boosted its position in MasterCraft Boat by 9.4% in the 4th quarter. Principal Financial Group Inc. now owns 11,502 shares of the company’s stock valued at $219,000 after buying an additional 993 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of MasterCraft Boat in the 4th quarter valued at $448,000. LHM Inc. bought a new stake in shares of MasterCraft Boat during the fourth quarter worth $1,636,000. Finally, Trexquant Investment LP acquired a new position in shares of MasterCraft Boat during the fourth quarter valued at $463,000. 97.64% of the stock is owned by institutional investors.

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.