MasterCraft Boat (NASDAQ:MCFT) Stock Passes Below 50-Day Moving Average – Should You Sell?

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $18.61 and traded as low as $18.06. MasterCraft Boat shares last traded at $18.44, with a volume of 72,676 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MCFT. B. Riley raised shares of MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. DA Davidson decreased their target price on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Truist Financial dropped their price target on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded MasterCraft Boat from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.50.

MasterCraft Boat Trading Up 1.9 %

The firm has a market cap of $308.93 million, a P/E ratio of -46.10 and a beta of 1.67. The business’s fifty day moving average price is $18.61 and its two-hundred day moving average price is $18.84.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. MasterCraft Boat had a positive return on equity of 3.74% and a negative net margin of 2.29%. Research analysts predict that MasterCraft Boat Holdings, Inc. will post 0.62 EPS for the current fiscal year.

Insider Transactions at MasterCraft Boat

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L acquired 53,853 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were acquired at an average cost of $18.87 per share, for a total transaction of $1,016,206.11. Following the completion of the purchase, the insider now owns 3,426,523 shares of the company’s stock, valued at approximately $64,658,489.01. This trade represents a 1.60 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE grew its stake in shares of 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 acquiring an additional 2,000 shares during the last quarter. State of Wyoming bought a new position in shares of MasterCraft Boat during the 4th quarter worth about $108,000. Tower Research Capital LLC TRC raised its position in shares of MasterCraft Boat by 260.4% during the fourth 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 last quarter. SG Americas Securities LLC lifted its stake in shares of MasterCraft Boat by 10.7% in the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock valued at $146,000 after buying an additional 742 shares during the period. Finally, JPMorgan Chase & Co. grew its position in MasterCraft Boat by 7.5% during the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock worth $149,000 after buying an additional 544 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

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.