Wasatch Advisors Inc. Takes Position in Mastercraft Boat Holdings Inc (MCFT)

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Wasatch Advisors Inc. purchased a new stake in Mastercraft Boat Holdings Inc (NASDAQ:MCFT) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 300,535 shares of the company’s stock, valued at approximately $6,783,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MCFT. Prime Capital Investment Advisors LLC acquired a new stake in Mastercraft Boat in the 1st quarter valued at about $25,000. New York State Teachers Retirement System acquired a new stake in Mastercraft Boat in the 1st quarter valued at about $36,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Mastercraft Boat by 106.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,017 shares of the company’s stock valued at $46,000 after acquiring an additional 1,041 shares during the last quarter. Great West Life Assurance Co. Can acquired a new stake in Mastercraft Boat in the 4th quarter valued at about $62,000. Finally, Legal & General Group Plc lifted its holdings in Mastercraft Boat by 17.1% in the 4th quarter. Legal & General Group Plc now owns 3,349 shares of the company’s stock valued at $62,000 after acquiring an additional 490 shares during the last quarter. 95.52% of the stock is owned by institutional investors.

MCFT stock traded down $0.73 during mid-day trading on Friday, reaching $21.50. 3,246 shares of the stock traded hands, compared to its average volume of 205,261. The company has a current ratio of 0.79, a quick ratio of 0.38 and a debt-to-equity ratio of 1.42. Mastercraft Boat Holdings Inc has a 52-week low of $17.60 and a 52-week high of $39.50. The firm has a market capitalization of $416.24 million, a PE ratio of 10.97, a P/E/G ratio of 0.89 and a beta of 1.68.

Mastercraft Boat (NASDAQ:MCFT) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.13. Mastercraft Boat had a net margin of 10.15% and a return on equity of 73.69%. The company had revenue of $128.40 million during the quarter, compared to analyst estimates of $122.72 million. During the same period in the prior year, the firm earned $0.56 earnings per share. The business’s quarterly revenue was up 36.9% on a year-over-year basis. On average, equities research analysts anticipate that Mastercraft Boat Holdings Inc will post 2.71 earnings per share for the current year.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Mastercraft Boat from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. ValuEngine downgraded shares of Mastercraft Boat from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, BidaskClub raised shares of Mastercraft Boat from a “hold” rating to a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $35.83.

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About Mastercraft Boat

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. The company operates in two segments, MasterCraft and NauticStar. It offers sport boats and outboard boats, which are used for water skiing, wakeboarding, wake surfing, and fishing, as well as general recreational boating.

See Also: Convertible Shares

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Institutional Ownership by Quarter for Mastercraft Boat (NASDAQ:MCFT)

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