Forager Capital Management LLC Has $30.92 Million Stock Position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Forager Capital Management LLC raised its holdings in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 29.9% in the 3rd quarter, Holdings Channel reports. The firm owned 1,697,695 shares of the company’s stock after purchasing an additional 390,405 shares during the quarter. MasterCraft Boat accounts for 12.2% of Forager Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Forager Capital Management LLC owned 0.10% of MasterCraft Boat worth $30,915,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of MasterCraft Boat by 0.7% during the second quarter. Renaissance Technologies LLC now owns 214,400 shares of the company’s stock valued at $4,048,000 after buying an additional 1,400 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of MasterCraft Boat by 13.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock worth $13,484,000 after acquiring an additional 82,509 shares in the last quarter. Systematic Financial Management LP lifted its position in MasterCraft Boat by 6.8% during the third quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock valued at $18,731,000 after acquiring an additional 65,412 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in MasterCraft Boat by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,998 shares of the company’s stock valued at $380,000 after acquiring an additional 857 shares in the last quarter. Finally, US Bancorp DE grew its holdings in MasterCraft Boat by 64.0% in the third quarter. US Bancorp DE now owns 5,123 shares of the company’s stock worth $93,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCFT. DA Davidson raised their price objective on MasterCraft Boat from $17.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Truist Financial raised their price objective on MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. B. Riley raised their price objective on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com lowered MasterCraft Boat from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $22.00 target price on shares of MasterCraft Boat in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.25.

MasterCraft Boat Stock Up 1.9 %

Shares of MCFT opened at $20.94 on Wednesday. The stock’s 50-day moving average price is $19.16 and its 200-day moving average price is $19.25. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $351.79 million, a price-to-earnings ratio of -91.04 and a beta of 1.64. MasterCraft Boat Holdings, Inc. has a 52 week low of $16.12 and a 52 week high of $24.05.

MasterCraft Boat (NASDAQ:MCFT) last posted its earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.09. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.55%. The firm had revenue of $65.40 million during the quarter, compared to analyst estimates of $61.19 million. During the same period in the previous year, the firm earned $0.43 EPS. The business’s quarterly revenue was down 37.2% on a year-over-year basis. On average, sell-side analysts predict that MasterCraft Boat Holdings, Inc. will post 0.61 EPS for the current year.

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.