CenterBook Partners LP Makes New $8.03 Million Investment in Mastercraft Boat Holdings, Inc. $MCFT

CenterBook Partners LP acquired a new stake in Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 405,321 shares of the company’s stock, valued at approximately $8,025,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Pillsbury Lake Capital LLC purchased a new position in shares of Mastercraft Boat in the second quarter valued at approximately $12,886,943. BlackRock Inc. acquired a new position in Mastercraft Boat in the 2nd quarter valued at about $36,896,000. Polar Asset Management Partners Inc. purchased a new position in Mastercraft Boat in the second quarter worth approximately $10,073,000. Bank of New York Mellon Corp acquired a new stake in shares of Mastercraft Boat during the 2nd quarter worth about $1,970,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Mastercraft Boat in the 1st quarter valued at approximately $2,248,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Mastercraft Boat Stock Down 2.0%

Shares of NASDAQ MCFT traded down $0.42 during trading on Friday, hitting $20.36. 143,458 shares of the company traded hands, compared to its average volume of 153,310. The company has a 50-day moving average price of $20.59 and a 200-day moving average price of $22.50. The firm has a market capitalization of $493.12 million, a P/E ratio of -1,017.49 and a beta of 1.10. Mastercraft Boat Holdings, Inc. has a 1 year low of $17.19 and a 1 year high of $28.44.

Mastercraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Thursday, September 10th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $129.94 million during the quarter, compared to the consensus estimate of $101.79 million. Mastercraft Boat had a positive return on equity of 11.08% and a negative net margin of 0.48%. The firm’s quarterly revenue was up 63.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. Research analysts predict that Mastercraft Boat Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MCFT shares. Robert W. Baird cut their target price on shares of Mastercraft Boat from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, September 11th. Zacks Research downgraded shares of Mastercraft Boat from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 15th. Weiss Ratings downgraded Mastercraft Boat from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, September 11th. B. Riley Financial reiterated a “neutral” rating and issued a $22.00 target price (down from $25.00) on shares of Mastercraft Boat in a research note on Wednesday, September 16th. Finally, Wall Street Zen upgraded shares of Mastercraft Boat to a “hold” rating in a research report on Saturday, October 10th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $22.75.

About Mastercraft Boat

MasterCraft Boat Holdings, Inc designs, manufactures and sells recreational powerboats. The company serves the premium marine market with boats intended for water sports, cruising, fishing and general leisure use.

Its portfolio has included MasterCraft performance ski and wake boats, Crest pontoon boats and Aviara luxury day boats. MasterCraft boats are known for water-sports features such as wake-shaping systems, while the company’s other brands address broader recreational boating needs, including spacious pontoon and luxury day-boat segments.

Founded in 1968, MasterCraft is headquartered in Vonore, Tennessee, and distributes its products through a network of independent dealers in North America and selected international markets.