Traders Buy Large Volume of MasterCraft Boat Put Options (NASDAQ:MCFT)

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 3,485 put options on the stock. This is an increase of 1,999% compared to the average daily volume of 166 put options.

Insider Buying and Selling at MasterCraft Boat

In related news, major shareholder Coliseum Capital Management, L acquired 60,000 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were bought at an average price of $21.84 per share, with a total value of $1,310,400.00. Following the transaction, the insider now directly owns 2,224,284 shares of the company’s stock, valued at $48,578,362.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders purchased 850,938 shares of company stock valued at $17,504,582. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On MasterCraft Boat

Large investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. purchased a new position in MasterCraft Boat in the first quarter valued at approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MasterCraft Boat by 41.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,486 shares of the company’s stock valued at $102,000 after buying an additional 1,306 shares during the last quarter. Carmel Capital Partners LLC grew its stake in shares of MasterCraft Boat by 596.4% during the 4th quarter. Carmel Capital Partners LLC now owns 8,879 shares of the company’s stock worth $201,000 after acquiring an additional 7,604 shares during the period. CastleKnight Management LP purchased a new stake in MasterCraft Boat in the 4th quarter worth about $263,000. Finally, Janus Henderson Group PLC raised its stake in MasterCraft Boat by 40.5% in the 1st quarter. Janus Henderson Group PLC now owns 13,047 shares of the company’s stock valued at $310,000 after acquiring an additional 3,762 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on MCFT shares. Stifel Nicolaus reduced their price target on shares of MasterCraft Boat from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. B. Riley decreased their target price on shares of MasterCraft Boat from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, MasterCraft Boat presently has a consensus rating of “Hold” and an average price target of $24.00.

MasterCraft Boat Stock Down 1.1 %

MasterCraft Boat stock opened at $17.76 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.54 and a current ratio of 2.02. The stock has a market cap of $301.56 million, a PE ratio of 8.00 and a beta of 1.63. MasterCraft Boat has a fifty-two week low of $17.55 and a fifty-two week high of $31.70. The firm’s 50-day simple moving average is $20.24 and its 200 day simple moving average is $21.24.

MasterCraft Boat (NASDAQ:MCFT) last announced its earnings results on Wednesday, May 8th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The firm had revenue of $95.71 million for the quarter, compared to the consensus estimate of $92.32 million. MasterCraft Boat had a return on equity of 21.71% and a net margin of 8.26%. Research analysts predict that MasterCraft Boat will post 0.85 EPS for the current fiscal year.

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.