MasterCraft Boat (NASDAQ:MCFT) Stock Crosses Below 50 Day Moving Average – Here’s What Happened

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) shares passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $19.95 and traded as low as $18.21. MasterCraft Boat shares last traded at $18.38, with a volume of 41,963 shares.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com upgraded MasterCraft Boat from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. DA Davidson increased their price target on MasterCraft Boat from $17.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. B. Riley increased their price target on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Truist Financial lowered their price target on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, MasterCraft Boat currently has a consensus rating of “Hold” and an average price target of $20.75.

MasterCraft Boat Stock Up 1.9 %

The business has a fifty day simple moving average of $19.87 and a 200 day simple moving average of $19.00. The firm has a market cap of $308.71 million, a price-to-earnings ratio of -79.91 and a beta of 1.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.49.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Wednesday, November 6th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. MasterCraft Boat had a positive return on equity of 6.55% and a negative net margin of 1.08%. The business had revenue of $65.40 million during the quarter, compared to analysts’ expectations of $61.19 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The business’s revenue was down 37.2% compared to the same quarter last year. As a group, equities analysts forecast that MasterCraft Boat Holdings, Inc. will post 0.61 EPS for the current fiscal year.

Insider Buying and Selling at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $18.83 per share, with a total value of $1,035,650.00. Following the completion of the acquisition, the insider now owns 3,562,615 shares in the company, valued at $67,084,040.45. This trade represents a 1.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On MasterCraft Boat

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. acquired a new stake in shares of MasterCraft Boat in the third quarter valued at approximately $191,000. Forager Capital Management LLC increased its holdings in shares of MasterCraft Boat by 29.9% in the third quarter. Forager Capital Management LLC now owns 1,697,695 shares of the company’s stock valued at $30,915,000 after purchasing an additional 390,405 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of MasterCraft Boat by 25.6% in the third quarter. Public Employees Retirement System of Ohio now owns 12,854 shares of the company’s stock valued at $234,000 after purchasing an additional 2,620 shares during the last quarter. Systematic Financial Management LP increased its holdings in shares of MasterCraft Boat by 6.8% in the third quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock valued at $18,731,000 after purchasing an additional 65,412 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of MasterCraft Boat in the third quarter valued at approximately $150,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

MasterCraft Boat Company Profile

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.