Principal Financial Group Inc. Takes Position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT)

Principal Financial Group Inc. acquired a new position in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 10,509 shares of the company’s stock, valued at approximately $191,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC grew its position in shares of MasterCraft Boat by 0.7% during the second quarter. Renaissance Technologies LLC now owns 214,400 shares of the company’s stock worth $4,048,000 after purchasing an additional 1,400 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in MasterCraft Boat by 13.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 714,208 shares of the company’s stock valued at $13,484,000 after buying an additional 82,509 shares in the last quarter. Systematic Financial Management LP increased its holdings in MasterCraft Boat by 6.8% in the 3rd quarter. Systematic Financial Management LP now owns 1,028,585 shares of the company’s stock valued at $18,731,000 after acquiring an additional 65,412 shares during the last quarter. US Bancorp DE increased 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 purchasing an additional 2,000 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in 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 purchasing an additional 51,016 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

MasterCraft Boat Stock Performance

MCFT opened at $18.04 on Wednesday. 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 firm has a 50 day moving average of $19.90 and a two-hundred day moving average of $19.05. The firm has a market capitalization of $303.00 million, a PE ratio of -78.43 and a beta of 1.67.

MasterCraft Boat (NASDAQ:MCFT) last posted its earnings results 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 positive return on equity of 6.55% and a negative net margin of 1.08%. The firm had revenue of $65.40 million for the quarter, compared to analyst estimates of $61.19 million. During the same period last year, the company earned $0.43 earnings per share. MasterCraft Boat’s revenue for the quarter was down 37.2% compared to the same quarter last year. On average, analysts anticipate that MasterCraft Boat Holdings, Inc. will post 0.61 EPS for the current year.

Analyst Upgrades and Downgrades

MCFT has been the subject of a number of recent research reports. B. Riley lifted their target price on MasterCraft Boat from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Truist Financial dropped their target price on shares of MasterCraft Boat from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday. StockNews.com raised shares of MasterCraft Boat from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Finally, DA Davidson increased their price objective on MasterCraft Boat from $17.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.75.

Insider Activity

In related news, major shareholder Coliseum Capital Management, L purchased 55,000 shares of MasterCraft Boat stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $18.83 per share, for a total transaction of $1,035,650.00. Following the transaction, the insider now directly owns 3,562,615 shares in the company, valued at approximately $67,084,040.45. This trade represents a 1.57 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.00% of the company’s stock.

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.