Wedge Capital Management L L P NC Lowers Stock Holdings in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Wedge Capital Management L L P NC reduced its stake in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 24.6% during the 1st quarter, HoldingsChannel reports. The firm owned 65,526 shares of the company’s stock after selling 21,389 shares during the period. Wedge Capital Management L L P NC’s holdings in MasterCraft Boat were worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of MCFT. Franklin Resources Inc. lifted its holdings in shares of MasterCraft Boat by 32.0% in the 4th quarter. Franklin Resources Inc. now owns 254,193 shares of the company’s stock valued at $4,847,000 after buying an additional 61,554 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of 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 period. Northern Trust Corp lifted its holdings in shares of MasterCraft Boat by 0.6% in the 4th quarter. Northern Trust Corp now owns 133,422 shares of the company’s stock valued at $2,544,000 after buying an additional 791 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of MasterCraft Boat by 260.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company’s stock valued at $118,000 after buying an additional 4,487 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of MasterCraft Boat in the 4th quarter valued at approximately $448,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

MasterCraft Boat Stock Up 2.9%

Shares of NASDAQ MCFT opened at $18.89 on Wednesday. MasterCraft Boat Holdings, Inc. has a fifty-two week low of $14.39 and a fifty-two week high of $23.00. The business has a 50 day moving average price of $16.71 and a two-hundred day moving average price of $17.98. The firm has a market cap of $313.67 million, a PE ratio of -47.22 and a beta of 1.01.

MasterCraft Boat (NASDAQ:MCFT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.12. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. The firm had revenue of $75.96 million during the quarter, compared to analyst estimates of $75.15 million. During the same quarter last year, the firm earned $0.37 EPS. MasterCraft Boat’s quarterly revenue was down 9.5% on a year-over-year basis. On average, analysts anticipate that MasterCraft Boat Holdings, Inc. will post 0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. B. Riley raised MasterCraft Boat to a “hold” rating in a report on Wednesday, February 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 price objective (down from $26.00) on shares of MasterCraft Boat in a report on Friday, April 4th. Raymond James reduced their price objective on MasterCraft Boat from $24.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Truist Financial lifted their price objective on MasterCraft Boat from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Finally, Wall Street Zen raised MasterCraft Boat from a “sell” rating to a “hold” rating in a report on Saturday, May 10th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.00.

Insider Transactions at MasterCraft Boat

In related news, major shareholder Fund L.P. Forager purchased 4,658 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The shares were acquired at an average price of $15.09 per share, with a total value of $70,289.22. Following the acquisition, the insider now owns 1,702,353 shares in the company, valued at approximately $25,688,506.77. This trade represents a 0.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders bought 77,420 shares of company stock worth $1,261,191. 4.00% of the stock is currently owned by corporate insiders.

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.