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Nelson Bradley M., the Chief Executive Officer of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT), recently acquired 5,000 shares of the company’s common stock. The timing is notable as the stock trades near its 52-week low, with InvestingPro analysis suggesting the company is currently undervalued. This open market purchase, executed on March 4, amounted to a total value of $83,600, with shares bought at a weighted average price of $16.72. The transaction was completed in multiple trades, with prices ranging from $16.66 to $16.78 per share. The purchase comes as the stock has experienced significant pressure, dropping 8.7% in the past week alone. Following this acquisition, Bradley’s direct ownership in the company increased to 85,451 shares. InvestingPro subscribers can access 12 additional key insights about MCFT, including detailed valuation metrics and financial health indicators in the comprehensive Pro Research Report.
In other recent news, MasterCraft Boat Holdings announced a leadership change with Mike O’Connell appointed as the new President of its Pontoon Segment. This change comes as the company prepares for the summer selling season, with O’Connell bringing extensive industry experience to the role. MasterCraft also recently reported second-quarter earnings for fiscal year 2025 that exceeded expectations, though the company noted a lukewarm retail environment and mixed results at recent boat shows. Following the earnings announcement, DA Davidson analyst Brandon Rolle adjusted MasterCraft’s stock price target from $23.00 to $22.00, maintaining a Neutral rating. The revised target reflects the need for MasterCraft to reduce field inventory and navigate current market conditions. Despite the earnings beat, the company has narrowed its guidance assumptions for the full fiscal year 2025. The price target is based on a price-to-earnings multiple of 13.0 times DA Davidson’s fiscal year 2026 earnings estimate of $1.70 per share. These developments highlight the challenges and strategic shifts MasterCraft is addressing in its business operations.
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