Orion Portfolio Solutions LLC Reduces Holdings in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Orion Portfolio Solutions LLC reduced its stake in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 6.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 52,827 shares of the company’s stock after selling 3,365 shares during the period. Orion Portfolio Solutions LLC’s holdings in MasterCraft Boat were worth $962,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Systematic Financial Management LP increased its stake in MasterCraft Boat by 6.8% during the 3rd quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock valued at $18,731,000 after purchasing an additional 65,412 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of MasterCraft Boat during the third quarter valued at $150,000. Empowered Funds LLC increased its position in shares of MasterCraft Boat by 2.1% in the 3rd quarter. Empowered Funds LLC now owns 192,029 shares of the company’s stock valued at $3,497,000 after acquiring an additional 4,036 shares during the period. Metis Global Partners LLC purchased a new position in MasterCraft Boat in the 3rd quarter worth $190,000. Finally, Victory Capital Management Inc. lifted its position in MasterCraft Boat by 5.2% during the 3rd quarter. Victory Capital Management Inc. now owns 71,682 shares of the company’s stock worth $1,305,000 after acquiring an additional 3,568 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

MasterCraft Boat Trading Down 1.8 %

Shares of NASDAQ:MCFT opened at $20.02 on Monday. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.28. MasterCraft Boat Holdings, Inc. has a 12-month low of $16.12 and a 12-month high of $24.05. The business has a 50 day moving average of $19.32 and a two-hundred day moving average of $19.24. The company has a market capitalization of $336.34 million, a PE ratio of -87.04 and a beta of 1.64.

MasterCraft Boat (NASDAQ:MCFT) last posted its earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.09. The firm had revenue of $65.40 million during the quarter, compared to analysts’ expectations of $61.19 million. MasterCraft Boat had a negative net margin of 1.08% and a positive return on equity of 6.55%. The business’s revenue was down 37.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 EPS. As a group, analysts forecast that MasterCraft Boat Holdings, Inc. will post 0.61 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MCFT shares. B. Riley raised their price objective on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of MasterCraft Boat from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. Stifel Nicolaus restated a “buy” rating and set a $22.00 price objective on shares of MasterCraft Boat in a research note on Friday, August 30th. Truist Financial increased their price objective on shares of MasterCraft Boat from $15.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Finally, DA Davidson boosted their target price on shares of MasterCraft Boat from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.25.

MasterCraft Boat Company Profile

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.