Executives from Coliseum Capital have made significant purchases of MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) stock, according to recent SEC filings. The series of transactions, which took place over several days, saw the purchase of shares with a total value of approximately $3.19 million.
The buying activity began on May 8, 2024, with 47,500 shares acquired at a weighted average price of $19.13 per share. The prices for these shares ranged from $19.06 to $19.49. The following day, an additional 90,346 shares were bought at an average price of $20.13, with individual transactions priced between $19.98 and $20.20. The buying spree continued on May 10, with 22,484 shares purchased at an average price of $20.36, with prices varying from $20.28 to $20.40 per share.
These transactions were conducted indirectly through various entities associated with Coliseum Capital, including Coliseum Capital Management, LLC, Coliseum Capital, LLC, and Coliseum Capital Partners, L.P. Christopher Shackelton and Adam Gray, both with ownership interests in these entities, were named in the filings. The shares are held directly by these entities and a separate account investment advisory client.
The SEC filings provide a comprehensive account of the transactions, including footnotes that detail the price ranges and the structure of ownership. The filings also indicate that the executives and entities involved disclaim beneficial ownership of the securities except to the extent of their pecuniary interest.
Investors tracking insider transactions may find these purchases to be a noteworthy development, as they represent a substantial investment by Coliseum Capital's executives in MasterCraft Boat Holdings.
InvestingPro Insights
Amid the significant share purchases by Coliseum Capital executives in MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT), analyzing the company's financial health and market performance offers valuable context. MasterCraft's current market capitalization stands at a solid $348.11 million, reflecting the market's valuation of the company. With a price-to-earnings (P/E) ratio of 9.05, the stock appears to be attractively priced compared to earnings, and this value becomes even more appealing when considering the adjusted P/E ratio for the last twelve months as of Q3 2024, which dips slightly to 8.44.
While the company's revenue has experienced a sharp decline of -32.73% in the last twelve months as of Q3 2024, the gross profit margin remains robust at 21.85%, indicating that MasterCraft is still able to maintain profitability on its sales. This is further evidenced by the company's operating income margin of 10.83% for the same period.
An InvestingPro Tip suggests that the company's negative PEG ratio of -0.27 may indicate that the market expects future earnings growth to be poor, which could be a point of concern for potential investors. Another tip points to the stock's price being at 64.67% of its 52-week high, which could signal a potential undervaluation or that the stock has room to grow before reaching its peak valuation again.
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