Franklin Resources Inc. Sells 10,851 Shares of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Franklin Resources Inc. reduced its position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,639 shares of the company’s stock after selling 10,851 shares during the quarter. Franklin Resources Inc.’s holdings in MasterCraft Boat were worth $3,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Isthmus Partners LLC boosted its stake in MasterCraft Boat by 0.4% in the 2nd quarter. Isthmus Partners LLC now owns 146,706 shares of the company’s stock worth $28,000 after purchasing an additional 532 shares during the period. US Bancorp DE lifted 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 in the last quarter. SG Americas Securities LLC bought a new position in shares of MasterCraft Boat during the third quarter worth $126,000. Quest Partners LLC purchased a new position in MasterCraft Boat during the third quarter valued at $150,000. Finally, Squarepoint Ops LLC bought a new stake in MasterCraft Boat in the 2nd quarter valued at $190,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

MasterCraft Boat Price Performance

NASDAQ:MCFT opened at $18.41 on Thursday. The firm has a market capitalization of $309.21 million, a price-to-earnings ratio of -80.04 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.49. The business has a 50 day simple moving average of $19.58 and a 200-day simple moving average of $19.13. MasterCraft Boat Holdings, Inc. has a 1 year low of $16.12 and a 1 year high of $24.05.

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

Analyst Upgrades and Downgrades

MCFT has been the subject of several research reports. Truist Financial increased their price objective on shares of MasterCraft Boat from $15.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Stifel Nicolaus restated a “buy” rating and set a $22.00 price target on shares of MasterCraft Boat in a report on Friday, August 30th. DA Davidson upped their price objective on MasterCraft Boat from $17.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. B. Riley raised their target price on shares of MasterCraft Boat from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, StockNews.com raised shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.