Pillsbury Lake Capital LLC Makes New $12.89 Billion Investment in Mastercraft Boat Holdings, Inc. $MCFT

Pillsbury Lake Capital LLC acquired a new stake in Mastercraft Boat Holdings, Inc. (NASDAQ:MCFT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 499,107 shares of the company’s stock, valued at approximately $12,886,943,000. Mastercraft Boat comprises 3.5% of Pillsbury Lake Capital LLC’s holdings, making the stock its 10th largest position. Pillsbury Lake Capital LLC owned 3.07% of Mastercraft Boat as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCFT. Legal & General Group Plc purchased a new position in shares of Mastercraft Boat in the 2nd quarter worth approximately $46,000. State of Wyoming bought a new stake in Mastercraft Boat during the second quarter worth $61,000. Kemnay Advisory Services Inc. bought a new stake in Mastercraft Boat during the fourth quarter worth $63,000. Meeder Asset Management Inc. purchased a new position in Mastercraft Boat in the second quarter worth $79,000. Finally, Russell Investments Group Ltd. boosted its position in Mastercraft Boat by 12.2% in the fourth quarter. Russell Investments Group Ltd. now owns 10,988 shares of the company’s stock worth $208,000 after purchasing an additional 1,193 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Mastercraft Boat Stock Down 2.0%

Shares of NASDAQ:MCFT opened at $24.24 on Thursday. The company has a 50-day moving average price of $24.54 and a two-hundred day moving average price of $23.22. Mastercraft Boat Holdings, Inc. has a twelve month low of $17.19 and a twelve month high of $28.44. The firm has a market capitalization of $394.63 million, a PE ratio of 35.65 and a beta of 1.06.

Analyst Ratings Changes

Several brokerages have recently issued reports on MCFT. Zacks Research lowered Mastercraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Robert W. Baird set a $30.00 price target on shares of Mastercraft Boat in a report on Friday, May 8th. Truist Financial increased their price target on shares of Mastercraft Boat from $25.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Finally, Weiss Ratings raised shares of Mastercraft Boat from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.40.

Mastercraft Boat Company Profile

MasterCraft Boat Holdings, Inc (NASDAQ: MCFT) is a designer, manufacturer and marketer of high-performance recreational powerboats. The company’s portfolio includes the MasterCraft®, Aviara®, Crest® Classic and Supra® brands, each of which features multiple model lines tailored for activities such as wakeboarding, waterskiing, cruising and luxury day boating. MasterCraft oversees the full product lifecycle from hull design and propulsion engineering to interior appointments and final assembly.

Founded in 1968 and headquartered in Vonore, Tennessee, MasterCraft has built a reputation for innovation in hull design, ballast systems and tower architecture to enhance wake performance and ride quality.