Wellington Management Group LLP Lowers Stock Holdings in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Wellington Management Group LLP reduced its stake in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 36.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,024 shares of the company’s stock after selling 174,976 shares during the period. Wellington Management Group LLP owned 1.83% of MasterCraft Boat worth $5,609,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MCFT. Dimensional Fund Advisors LP grew its stake in MasterCraft Boat by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock worth $13,484,000 after purchasing an additional 82,509 shares in the last quarter. Systematic Financial Management LP grew its position in shares of MasterCraft Boat by 6.8% during the 3rd quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock worth $18,731,000 after buying an additional 65,412 shares in the last quarter. American Century Companies Inc. increased its stake in shares of MasterCraft Boat by 14.8% during the second quarter. American Century Companies Inc. now owns 395,570 shares of the company’s stock valued at $7,468,000 after buying an additional 51,016 shares during the period. Koss Olinger Consulting LLC bought a new stake in shares of MasterCraft Boat in the second quarter valued at about $417,000. Finally, Ballentine Partners LLC purchased a new stake in MasterCraft Boat in the third quarter worth about $192,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

MasterCraft Boat Stock Performance

Shares of MCFT opened at $19.81 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.28. The firm has a market cap of $332.73 million, a PE ratio of -86.13 and a beta of 1.64. MasterCraft Boat Holdings, Inc. has a 12 month low of $16.12 and a 12 month high of $24.05. The stock has a fifty day moving average price of $19.37 and a 200-day moving average price of $19.23.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $65.40 million during the quarter, compared to analysts’ expectations of $61.19 million. During the same period last year, the business posted $0.43 earnings per share. The firm’s revenue was down 37.2% compared to the same quarter last year. Equities research analysts predict that MasterCraft Boat Holdings, Inc. will post 0.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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