MasterCraft Boat Target of Unusually High Options Trading (NASDAQ:MCFT)

MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) saw unusually large options trading activity on Thursday. Stock investors purchased 945 call options on the stock. This is an increase of 1,039% compared to the average volume of 83 call options.

MCFT stock opened at $32.65 on Friday. The company has a market cap of $618.68 million, a P/E ratio of -26.54 and a beta of 2.26. MasterCraft Boat has a 52 week low of $9.97 and a 52 week high of $33.00. The company’s 50-day moving average price is $28.10 and its 200 day moving average price is $26.33. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 1.48.

MasterCraft Boat (NASDAQ:MCFT) last released its quarterly earnings data on Tuesday, May 11th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.31. MasterCraft Boat had a negative net margin of 6.47% and a positive return on equity of 40.33%. On average, equities research analysts expect that MasterCraft Boat will post 2.39 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Prairiewood Capital LLC acquired a new position in MasterCraft Boat during the fourth quarter worth about $320,000. Assenagon Asset Management S.A. raised its position in MasterCraft Boat by 84.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 39,691 shares of the company’s stock worth $986,000 after acquiring an additional 18,229 shares during the last quarter. BlackRock Inc. raised its position in MasterCraft Boat by 2.6% during the fourth quarter. BlackRock Inc. now owns 1,250,766 shares of the company’s stock worth $31,068,000 after acquiring an additional 32,196 shares during the last quarter. Royce & Associates LP raised its position in MasterCraft Boat by 6.8% during the fourth quarter. Royce & Associates LP now owns 1,138,646 shares of the company’s stock worth $28,284,000 after acquiring an additional 72,677 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in MasterCraft Boat during the fourth quarter worth about $230,000. 82.85% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have issued reports on MCFT shares. Robert W. Baird raised their price objective on shares of MasterCraft Boat from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday. Zacks Investment Research downgraded shares of MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 14th. B. Riley lifted their target price on shares of MasterCraft Boat from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday. Truist lifted their target price on shares of MasterCraft Boat from $26.00 to $32.00 and gave the company a “hold” rating in a report on Thursday. Finally, Raymond James lifted their target price on shares of MasterCraft Boat from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $36.80.

MasterCraft Boat Company Profile

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through three segments: MasterCraft, NauticStar, and Crest. The MasterCraft segment produces recreational performance sport boats and luxury day boats under the MasterCraft and Aviara brands, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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