MCBC Holdings, Inc. (NASDAQ:MCFT) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of MCBC Holdings, Inc. (NASDAQ:MCFT) from a hold rating to a strong sell rating in a research note released on Wednesday, July 12th.

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. “

Several other analysts have also recently issued reports on MCFT. B. Riley restated a buy rating and set a $21.00 target price on shares of MCBC Holdings in a research report on Wednesday, May 17th. ValuEngine raised shares of MCBC Holdings from a hold rating to a buy rating in a research report on Tuesday, June 13th.

Shares of MCBC Holdings (MCFT) traded up 0.28% on Wednesday, hitting $17.61. The stock had a trading volume of 85,383 shares. The company has a 50-day moving average of $19.04 and a 200 day moving average of $17.17. The company has a market capitalization of $328.22 million, a price-to-earnings ratio of 18.21 and a beta of 1.13. MCBC Holdings has a 52 week low of $10.44 and a 52 week high of $20.22.

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

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In other MCBC Holdings news, insider Terry D. Mcnew sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $18.84, for a total value of $94,200.00. Following the transaction, the insider now directly owns 304,882 shares in the company, valued at approximately $5,743,976.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy M. Oxley sold 7,500 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $18.84, for a total transaction of $141,300.00. Following the completion of the transaction, the chief financial officer now owns 75,302 shares in the company, valued at $1,418,689.68. The disclosure for this sale can be found here. Corporate insiders own 54.90% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. Alps Advisors Inc. increased its position in shares of MCBC Holdings by 0.3% in the second quarter. Alps Advisors Inc. now owns 30,598 shares of the company’s stock worth $598,000 after buying an additional 79 shares in the last quarter. Chicago Equity Partners LLC increased its position in shares of 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 in the last quarter. Trexquant Investment LP increased its position in shares of MCBC Holdings by 7.1% in the first quarter. Trexquant Investment LP now owns 19,200 shares of the company’s stock worth $310,000 after buying an additional 1,280 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 in the last quarter. Finally, Ativo Capital Management LLC increased its position in shares of MCBC Holdings by 5.8% in the first quarter. Ativo Capital Management LLC now owns 82,718 shares of the company’s stock worth $1,338,000 after buying an additional 4,500 shares in the last quarter. Institutional investors and hedge funds own 90.87% of the company’s stock.

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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