The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. MasterCraft Boat Holdings Inc shares valued at $872,550 were purchased by Coliseum Capital Management, L on Jun 21 ’24. At $19.39 per share, Coliseum Capital Management, L acquired 45,000 shares. The insider’s holdings grew to 3,334,208 shares worth approximately $73.45 million following the completion of this transaction.
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Also, Coliseum Capital Management, L purchased 38,462 shares, netting a total of over 753,086 in proceeds. Following the buying of shares at $19.58 each, the insider now holds 3,372,670 shares.
Before that, Coliseum Capital Management, L had added 24,054 shares to its account. In a trade valued at $469,775, the 10% Owner bought MasterCraft Boat Holdings Inc shares for $19.53 each. Upon closing the transaction, the insider’s holdings increased to 24,054 shares, worth approximately $72.46 million.
As published in a research note from B. Riley Securities on August 31, 2023, MasterCraft Boat Holdings Inc [MCFT] has been rated down from a Buy to a Neutral and the price target has been revised to $23 from $37. Analysts at DA Davidson started covering the stock with ‘”a Neutral”‘ outlook in a report released in late May. As of April 19, 2023, KeyBanc Capital Markets has initiated its “Sector weight” rating for MCFT. Earlier on August 19, 2022, Stifel initiated its rating. Their recommendation was “a Buy” for MCFT stock.
Analyzing MCFT Stock Performance
During the last five days, there has been a surge of approximately 27.41%. Over the course of the year, MasterCraft Boat Holdings Inc shares have dropped approximately -2.69%. Shares of the company reached a 52-week high of $24.05 on 04/01/24 and a 52-week low of $16.12 on 10/23/24. A 50-day SMA is recorded $17.66, while a 200-day SMA reached $19.94. Nevertheless, trading volume fell to 0.6 million shares from 0.14 million shares the previous day.
Support And Resistance Levels for MasterCraft Boat Holdings Inc (MCFT)
According to the 24-hour chart, there is a support level at 20.27, which, if violated, would cause prices to drop to 18.50. In the upper region, resistance lies at 23.40. The next price resistance is at 24.76. RSI (Relative Strength Index) is 81.16 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.54, which suggests the price will increase in the coming days. Percent R is at 14.10%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
