Wedge Capital Management L L P NC Reduces Holdings in MCBC Holdings Inc (MCFT)

Share on StockTwits

Wedge Capital Management L L P NC cut its holdings in MCBC Holdings Inc (NASDAQ:MCFT) by 23.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,303 shares of the company’s stock after selling 6,353 shares during the quarter. Wedge Capital Management L L P NC owned about 0.11% of MCBC worth $764,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MCFT. Voya Investment Management LLC bought a new stake in MCBC in the second quarter worth about $201,000. Capital Fund Management S.A. bought a new stake in MCBC in the second quarter worth about $208,000. Mackay Shields LLC bought a new stake in MCBC in the second quarter worth about $226,000. Dynamic Technology Lab Private Ltd bought a new stake in MCBC in the second quarter worth about $340,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in MCBC in the second quarter worth about $365,000. Hedge funds and other institutional investors own 95.01% of the company’s stock.

NASDAQ MCFT opened at $27.66 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.33 and a current ratio of 0.73. The stock has a market cap of $612.54 million, a price-to-earnings ratio of 13.63, a P/E/G ratio of 0.83 and a beta of 1.31. MCBC Holdings Inc has a 1 year low of $20.13 and a 1 year high of $39.50.

MCBC (NASDAQ:MCFT) last posted its quarterly earnings data on Friday, November 9th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. The firm had revenue of $93.60 million for the quarter, compared to the consensus estimate of $90.93 million. MCBC had a return on equity of 108.42% and a net margin of 11.92%. The business’s revenue for the quarter was up 44.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. On average, sell-side analysts expect that MCBC Holdings Inc will post 2.62 earnings per share for the current year.

MCFT has been the topic of several research reports. SunTrust Banks boosted their price target on shares of MCBC to $30.00 in a research report on Thursday, October 11th. B. Riley boosted their price objective on MCBC from $28.00 to $36.50 and gave the stock a “buy” rating in a report on Friday, September 7th. BidaskClub upgraded MCBC from a “hold” rating to a “buy” rating in a report on Friday, September 7th. ValuEngine upgraded MCBC from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Finally, Zacks Investment Research upgraded MCBC from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Wednesday, September 19th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. MCBC has an average rating of “Buy” and an average target price of $40.33.

COPYRIGHT VIOLATION NOTICE: “Wedge Capital Management L L P NC Reduces Holdings in MCBC Holdings Inc (MCFT)” was published by Week Herald and is the property of of Week Herald. If you are accessing this report on another domain, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The correct version of this report can be read at https://weekherald.com/2018/11/10/wedge-capital-management-l-l-p-nc-reduces-holdings-in-mcbc-holdings-inc-mcft.html.

MCBC Profile

MCBC Holdings, Inc, through its subsidiaries, innovates, designs, manufactures, and markets sport boats and outboard boats in North America and internationally. The company's boats are used for water skiing, wakeboarding, wake surfing, and fishing, as well as general recreational boating. It also provides various accessories, such as trailers and aftermarket parts.

Read More: Insider Trading

Institutional Ownership by Quarter for MCBC (NASDAQ:MCFT)

Receive News & Ratings for MCBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MCBC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply