Quest Partners LLC Takes Position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Quest Partners LLC bought a new position in shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) during the 3rd quarter, HoldingsChannel reports. The firm bought 8,242 shares of the company’s stock, valued at approximately $150,000.

Other hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE grew its stake in shares of MasterCraft Boat by 64.0% during 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. Harel Insurance Investments & Financial Services Ltd. grew its position in MasterCraft Boat by 191.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,250 shares of the company’s stock worth $98,000 after purchasing an additional 3,450 shares during the last quarter. SG Americas Securities LLC purchased a new stake in MasterCraft Boat during the 3rd quarter worth approximately $126,000. Squarepoint Ops LLC purchased a new position in shares of MasterCraft Boat in the second quarter worth $190,000. Finally, Metis Global Partners LLC acquired a new stake in shares of MasterCraft Boat during the third quarter worth $190,000. 97.64% of the stock is owned by institutional investors and hedge funds.

MasterCraft Boat Price Performance

Shares of NASDAQ MCFT opened at $21.16 on Friday. The stock has a market capitalization of $355.49 million, a price-to-earnings ratio of -92.00 and a beta of 1.61. MasterCraft Boat Holdings, Inc. has a 52 week low of $16.12 and a 52 week high of $24.05. The firm has a 50-day simple moving average of $18.67 and a 200-day simple moving average of $19.26. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.28.

MasterCraft Boat (NASDAQ:MCFT) last issued its earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $61.19 million. During the same period in the previous year, the firm posted $0.43 EPS. The business’s revenue for the quarter was down 37.2% compared to the same quarter last year. On average, equities analysts predict that MasterCraft Boat Holdings, Inc. will post 0.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.