Short Interest in MCBC Holdings Inc (MCFT) Declines By 59.6%

MCBC Holdings Inc (NASDAQ:MCFT) was the recipient of a large decrease in short interest in the month of December. As of December 29th, there was short interest totalling 332,431 shares, a decrease of 59.6% from the December 15th total of 822,102 shares. Based on an average trading volume of 180,165 shares, the short-interest ratio is currently 1.8 days. Currently, 1.8% of the shares of the company are sold short.

Several research firms recently issued reports on MCFT. ValuEngine downgraded MCBC from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research raised MCBC from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Thursday, November 9th. BidaskClub downgraded MCBC from a “buy” rating to a “hold” rating in a research report on Thursday, December 14th. B. Riley upped their target price on MCBC from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, December 18th. Finally, Robert W. Baird reissued a “buy” rating on shares of MCBC in a research report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $26.33.

Shares of MCBC (NASDAQ:MCFT) opened at $21.24 on Wednesday. MCBC has a 1-year low of $13.67 and a 1-year high of $23.99. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.51. The company has a market cap of $407.94, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 0.92 and a beta of 1.25.

MCBC (NASDAQ:MCFT) last posted its quarterly earnings results on Friday, November 10th. The company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. MCBC had a net margin of 8.43% and a return on equity of 213.34%. The company had revenue of $65.00 million for the quarter, compared to analyst estimates of $62.84 million. During the same period in the prior year, the company earned $0.41 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. equities research analysts anticipate that MCBC will post 1.58 EPS for the current year.

A number of large investors have recently bought and sold shares of MCFT. Russell Investments Group Ltd. boosted its holdings in MCBC by 55.3% in the third quarter. Russell Investments Group Ltd. now owns 7,582 shares of the company’s stock valued at $154,000 after purchasing an additional 2,700 shares during the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in MCBC in the second quarter valued at $223,000. Nationwide Fund Advisors boosted its holdings in MCBC by 222.1% in the second quarter. Nationwide Fund Advisors now owns 13,969 shares of the company’s stock valued at $273,000 after purchasing an additional 9,632 shares during the last quarter. Trexquant Investment LP purchased a new stake in MCBC in the third quarter valued at $280,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in MCBC by 174.6% in the second quarter. The Manufacturers Life Insurance Company now owns 16,688 shares of the company’s stock valued at $326,000 after purchasing an additional 10,611 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors.

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MCBC 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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