Alps Advisors Inc. boosted its holdings in Mastercraft Boat Holdings Inc (NASDAQ:MCFT) by 46.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,743 shares of the company’s stock after purchasing an additional 5,621 shares during the quarter. Alps Advisors Inc.’s holdings in Mastercraft Boat were worth $400,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in MCFT. Rice Hall James & Associates LLC increased its stake in shares of Mastercraft Boat by 628.9% in the first quarter. Rice Hall James & Associates LLC now owns 564,808 shares of the company’s stock worth $12,748,000 after purchasing an additional 487,325 shares in the last quarter. Icon Advisers Inc. Co. purchased a new stake in shares of Mastercraft Boat in the first quarter worth $465,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Mastercraft Boat by 106.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,017 shares of the company’s stock worth $46,000 after purchasing an additional 1,041 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in shares of Mastercraft Boat by 61.5% in the first quarter. Virginia Retirement Systems ET AL now owns 57,000 shares of the company’s stock worth $1,286,000 after purchasing an additional 21,700 shares in the last quarter. Finally, Brinker Capital Inc. purchased a new stake in shares of Mastercraft Boat in the first quarter worth $202,000. Institutional investors and hedge funds own 94.83% of the company’s stock.
A number of brokerages have recently issued reports on MCFT. Zacks Investment Research raised shares of Mastercraft Boat from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Wednesday. ValuEngine cut shares of Mastercraft Boat from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, BidaskClub raised shares of Mastercraft Boat from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $35.83.
Mastercraft Boat (NASDAQ:MCFT) last posted its earnings results on Thursday, May 9th. The company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.13. The company had revenue of $128.40 million during the quarter, compared to analysts’ expectations of $122.72 million. Mastercraft Boat had a net margin of 10.15% and a return on equity of 73.69%. Mastercraft Boat’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period last year, the company posted $0.56 earnings per share. As a group, research analysts predict that Mastercraft Boat Holdings Inc will post 2.68 EPS for the current year.
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Mastercraft Boat Profile
MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. The company operates in two segments, MasterCraft and NauticStar. It offers sport boats and outboard boats, which are used for water skiing, wakeboarding, wake surfing, and fishing, as well as general recreational boating.
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