Polar Asset Management Partners Inc. Invests $10.07 Million in Mastercraft Boat Holdings, Inc. $MCFT

Polar Asset Management Partners Inc. bought a new position in Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) during the 2nd quarter, Holdings Channel reports. The fund bought 390,110 shares of the company’s stock, valued at approximately $10,073,000.

A number of other hedge funds also recently bought and sold shares of the business. Legal & General Group Plc bought a new position in Mastercraft Boat during the 2nd quarter valued at approximately $46,000. State of Wyoming bought a new stake in shares of Mastercraft Boat in the 2nd quarter worth approximately $61,000. Kemnay Advisory Services Inc. purchased a new position in shares of Mastercraft Boat during the fourth quarter valued at approximately $63,000. Meeder Asset Management Inc. purchased a new position in shares of Mastercraft Boat during the second quarter valued at approximately $79,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Mastercraft Boat by 12.2% during the fourth quarter. Russell Investments Group Ltd. now owns 10,988 shares of the company’s stock valued at $208,000 after acquiring an additional 1,193 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MCFT. Weiss Ratings raised Mastercraft Boat from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Robert W. Baird set a $30.00 price objective on shares of Mastercraft Boat in a research report on Friday, May 8th. Zacks Research lowered shares of Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Finally, Truist Financial raised their target price on shares of Mastercraft Boat from $25.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.40.

Mastercraft Boat Stock Performance

MCFT stock opened at $24.73 on Wednesday. Mastercraft Boat Holdings, Inc. has a fifty-two week low of $17.19 and a fifty-two week high of $28.44. The business’s 50 day moving average price is $24.51 and its two-hundred day moving average price is $23.22. The company has a market capitalization of $402.60 million, a price-to-earnings ratio of 36.37 and a beta of 1.06.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc (NASDAQ: MCFT) is a designer, manufacturer and marketer of high-performance recreational powerboats. The company’s portfolio includes the MasterCraft®, Aviara®, Crest® Classic and Supra® brands, each of which features multiple model lines tailored for activities such as wakeboarding, waterskiing, cruising and luxury day boating. MasterCraft oversees the full product lifecycle from hull design and propulsion engineering to interior appointments and final assembly.

Founded in 1968 and headquartered in Vonore, Tennessee, MasterCraft has built a reputation for innovation in hull design, ballast systems and tower architecture to enhance wake performance and ride quality.