MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT – Get Rating) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 483,200 shares, a drop of 17.6% from the August 15th total of 586,700 shares. Currently, 2.7% of the company's shares are sold short. Based on an average daily volume of 100,600 shares, the short-interest ratio is currently 4.8 days.
Hedge Funds Weigh In On MasterCraft Boat
Hedge funds have recently modified their holdings of the stock. Group One Trading L.P. grew its holdings in shares of MasterCraft Boat by 55.9% in the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company's stock valued at $34,000 after acquiring an additional 500 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of MasterCraft Boat in the 1st quarter valued at about $66,000. Amalgamated Bank bought a new position in shares of MasterCraft Boat in the 1st quarter valued at about $75,000. Lazard Asset Management LLC grew its holdings in shares of MasterCraft Boat by 88.5% in the 1st quarter. Lazard Asset Management LLC now owns 3,408 shares of the company's stock valued at $83,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Alpha Paradigm Partners LLC bought a new position in shares of MasterCraft Boat in the 2nd quarter valued at about $143,000. Institutional investors own 89.33% of the company's stock.
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MasterCraft Boat Stock Performance
MCFT opened at $21.55 on Friday. The business's 50-day moving average price is $23.79 and its two-hundred day moving average price is $23.73. MasterCraft Boat has a 1 year low of $20.02 and a 1 year high of $29.69. The company has a market capitalization of $391.13 million, a price-to-earnings ratio of 6.91 and a beta of 1.79. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.57 and a quick ratio of 0.50.
MasterCraft Boat (NASDAQ:MCFT – Get Rating) last released its quarterly earnings results on Thursday, September 8th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.31. MasterCraft Boat had a return on equity of 62.88% and a net
margin of 8.22%. During the same period in the prior year, the business posted $0.94 EPS. Equities analysts expect that MasterCraft Boat will post 4.24 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
MCFT has been the topic of several recent research reports. B. Riley reduced their price target on MasterCraft Boat from $46.00 to $37.00 and set a "buy" rating on the stock in a research report on Friday, September 9th. Raymond James dropped their price objective on MasterCraft Boat from $38.00 to $29.00 and set an "outperform" rating on the stock in a research note on Friday, September 9th. Robert W. Baird dropped their price objective on MasterCraft Boat from $32.00 to $30.00 in a research note on Friday, September 9th. Stifel Nicolaus started coverage on MasterCraft Boat in a research note on Thursday, August 18th. They set a "buy" rating and a $35.00 price objective on the stock. Finally, StockNews.com raised MasterCraft Boat from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, September 13th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $31.40.
MasterCraft Boat Company Profile
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MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through four segments: MasterCraft, Crest, NauticStar, and Aviara. The MasterCraft segment produces recreational performance sport boats, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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