Zacks Investment Research Lowers MCBC Holdings, Inc. (NASDAQ:MCFT) to Strong Sell

Zacks Investment Research lowered shares of MCBC Holdings, Inc. (NASDAQ:MCFT) from a hold rating to a strong sell rating in a report issued on Wednesday morning.

According to Zacks, “MCBC Holdings, Inc. is a designer, manufacturer and marketer of MasterCraft brand premium performance sport boats. The Company offers water skiing, wakeboarding and luxury performance powerboats. MCBC Holdings, Inc. is headquartered Vonore, United States. “

A number of other research firms have also issued reports on MCFT. B. Riley reaffirmed a buy rating and issued a $21.00 target price on shares of MCBC Holdings in a research note on Saturday, July 1st. ValuEngine raised MCBC Holdings from a hold rating to a buy rating in a research note on Tuesday, June 13th.

Shares of MCBC Holdings (NASDAQ MCFT) opened at 19.79 on Wednesday. MCBC Holdings has a 12-month low of $10.44 and a 12-month high of $20.22. The firm has a market cap of $368.85 million, a PE ratio of 20.47 and a beta of 1.18. The company has a 50 day moving average price of $18.95 and a 200 day moving average price of $16.17.

MCBC Holdings (NASDAQ:MCFT) last posted its earnings results on Thursday, May 11th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.04. MCBC Holdings had a net margin of 8.06% and a negative return on equity of 4,067.61%. The company had revenue of $58.50 million during the quarter, compared to analysts’ expectations of $59.91 million. During the same period in the previous year, the company posted $0.31 EPS. MCBC Holdings’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts forecast that MCBC Holdings will post $1.28 earnings per share for the current fiscal year.

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In related news, CFO Timothy M. Oxley sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $18.84, for a total value of $141,300.00. Following the sale, the chief financial officer now owns 75,302 shares of the company’s stock, valued at approximately $1,418,689.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Terry D. Mcnew sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $18.84, for a total value of $94,200.00. Following the completion of the sale, the insider now directly owns 304,882 shares in the company, valued at approximately $5,743,976.88. The disclosure for this sale can be found here. 54.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of MCFT. Bank of New York Mellon Corp raised its stake in MCBC Holdings by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 82,128 shares of the company’s stock worth $1,328,000 after buying an additional 2,611 shares during the last quarter. American Century Companies Inc. raised its stake in MCBC Holdings by 5.9% in the first quarter. American Century Companies Inc. now owns 830,594 shares of the company’s stock worth $13,431,000 after buying an additional 46,624 shares during the last quarter. Algert Global LLC raised its stake in MCBC Holdings by 143.6% in the first quarter. Algert Global LLC now owns 181,572 shares of the company’s stock worth $2,936,000 after buying an additional 107,036 shares during the last quarter. Chicago Equity Partners LLC raised its stake in MCBC Holdings by 1.6% in the first quarter. Chicago Equity Partners LLC now owns 40,360 shares of the company’s stock worth $653,000 after buying an additional 620 shares during the last quarter. Finally, Monarch Partners Asset Management LLC bought a new stake in MCBC Holdings during the first quarter worth about $488,000. 92.22% of the stock is currently owned by hedge funds and other institutional investors.

MCBC Holdings Company Profile

MCBC Holdings, Inc (MCBC) is a holding company. The Company is a designer and manufacturer of inboard tournament ski boats and V-drive runabouts under the MasterCraft brand. The Company operates through two segments: MasterCraft and Hydra-Sports. The MasterCraft product brand consists of recreational performance boats primarily used for water skiing, wakeboarding and wake surfing, and general recreational boating.

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