LHM Inc. Invests $1.64 Million in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

LHM Inc. purchased a new position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,790 shares of the company’s stock, valued at approximately $1,636,000. MasterCraft Boat accounts for 0.5% of LHM Inc.’s holdings, making the stock its 21st biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCFT. US Bancorp DE raised its holdings 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 buying an additional 2,000 shares during the period. SG Americas Securities LLC raised its holdings 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 worth $146,000 after buying an additional 742 shares during the period. Quest Partners LLC purchased a new stake in shares of MasterCraft Boat in the third quarter worth approximately $150,000. Metis Global Partners LLC purchased a new stake in shares of MasterCraft Boat in the third quarter worth approximately $190,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of MasterCraft Boat in the third quarter worth approximately $191,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

MasterCraft Boat Trading Up 1.6 %

Shares of NASDAQ:MCFT opened at $16.94 on Thursday. MasterCraft Boat Holdings, Inc. has a 12-month low of $16.12 and a 12-month high of $24.05. The business’s fifty day simple moving average is $18.51 and its 200-day simple moving average is $18.76. The company has a market capitalization of $283.80 million, a PE ratio of -42.35 and a beta of 1.67.

MasterCraft Boat (NASDAQ:MCFT) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 year.

Analyst Ratings Changes

Several research analysts have commented on MCFT shares. B. Riley upgraded MasterCraft Boat to a “hold” rating in a report on Wednesday, February 12th. DA Davidson reduced their price objective on MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. StockNews.com upgraded MasterCraft Boat from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Truist Financial reduced their price objective on MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.50.

Insider Activity

In other MasterCraft Boat news, major shareholder Coliseum Capital Management, L acquired 53,853 shares of the stock in a transaction dated Thursday, December 26th. The stock was purchased at an average price of $18.87 per share, with a total value of $1,016,206.11. Following the transaction, the insider now directly owns 3,426,523 shares of the company’s stock, valued at $64,658,489.01. This trade represents a 1.60 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.

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.