Baller Razorskier1 Posted July 17, 2015 Baller Share Posted July 17, 2015 MCFT started trading minutes ago on the NASDAQ. They priced 6.1mm shares at $15, currently trading at around $15.50. Total shares outstanding will be 17.2mm, implying a total company value of $267mm. Wayzata Investment Partners owns the shares not priced in the offering. FYI for those keeping score at home. Link to comment Share on other sites More sharing options...
E_T Posted July 17, 2015 Share Posted July 17, 2015 Malibu is still a better buy for stock. MC own the product Link to comment Share on other sites More sharing options...
Baller oldjeep Posted July 17, 2015 Baller Share Posted July 17, 2015 Not sure either one is really worth investing in (unless you are investing in a boat), but time will tell. Link to comment Share on other sites More sharing options...
Baller Razorskier1 Posted July 17, 2015 Author Baller Share Posted July 17, 2015 They both tell a similar story. Biggest pieces are that industry units are still 40 percent below pre recession levels, manufacturing efficiency is improving, "entry level" product line prove des growth, stealing share from stern drives. Time will tell. Link to comment Share on other sites More sharing options...
Baller oldjeep Posted July 17, 2015 Baller Share Posted July 17, 2015 60k "entry level" boats;) Link to comment Share on other sites More sharing options...
Baller Ilivetoski Posted July 17, 2015 Baller Share Posted July 17, 2015 @oldjeep Cant get into an X series under 100k. Link to comment Share on other sites More sharing options...
Baller oldjeep Posted July 17, 2015 Baller Share Posted July 17, 2015 Nxt is around 60 Link to comment Share on other sites More sharing options...
03lightning Posted July 17, 2015 Share Posted July 17, 2015 Base X10 mid 90's Link to comment Share on other sites More sharing options...
E_T Posted July 17, 2015 Share Posted July 17, 2015 @Ilivetoski NXT boats 60k, X-20 MSRP 92K. You can get in a X at around 80k no trailer. X-Star tricked out with the 7.4L and all the options MSRP 204k Link to comment Share on other sites More sharing options...
Baller Ralph Lee Posted July 18, 2015 Baller Share Posted July 18, 2015 $70,000 boats! The waterski industry has turned into a spoiled brat rich kid club. and they cant pay out bigger checks to the pro skiers?? freaking amazing!! Link to comment Share on other sites More sharing options...
Baller TallSkinnyGuy Posted July 18, 2015 Baller Share Posted July 18, 2015 MC is one of the biggest companies in the industry and is only valued at $267 million? That puts some perspective on how small this industry is. Link to comment Share on other sites More sharing options...
Baller 6balls Posted July 18, 2015 Baller Share Posted July 18, 2015 @Ralph Lee if you want the latest it's tough to argue your point. I won't pay that for a car I use daily much less a boat I use 4 months per year less frequently than I would like. Fantastic boats can be had, however, for far less. I paid $17K for my 196 five years ago and speed control is about all it gives up (PP vs. ZO) to anything produced today. Wakes and tracking are amazing. If I had to have ZO I could re-power it with ZO for under $10K. Alternatively I could sell mine for nearly what I paid and hunt for an '07 or newer 196 with ZO...one of my favorite boats to both drive and ski. Used boats are different than used cars...far fewer moving parts, electronics etc to go bad. Either way I believe depreciated, well-kept models are the way to go. Link to comment Share on other sites More sharing options...
Baller Ralph Lee Posted July 18, 2015 Baller Share Posted July 18, 2015 I'll never get rid of my 196. I'm waiting for an upgraded version of zero off before I convert... Link to comment Share on other sites More sharing options...
Baller Texas6 Posted July 18, 2015 Baller Share Posted July 18, 2015 Not sure I understand their reason for going public other than for a handful of execs to get rewarded. They grew organically over the course of several decades to the point that they are one of the largest well known boat brands on earth. I don't see where a cash infusion helps them all that much unless they are hoping to subsidize some M&A Link to comment Share on other sites More sharing options...
Baller oldjeep Posted July 18, 2015 Baller Share Posted July 18, 2015 Venture capital likes to get their money back eventually;) Link to comment Share on other sites More sharing options...
Baller Texas6 Posted July 18, 2015 Baller Share Posted July 18, 2015 They weren't leveraging VC were they? So Did they have a private equity round during the downturn? I am missing something Link to comment Share on other sites More sharing options...
Baller ForrestGump Posted July 19, 2015 Baller Share Posted July 19, 2015 MC was purchased by two Private Equity firms(one of which was Penske's company) in 2007 and then Wayzata Investment Partners provided them a round of financing in 2010 to keep them out of bankruptcy. The Wayzata funding also bought out most of the previous private equity stakes. Link to comment Share on other sites More sharing options...
Baller Texas6 Posted July 19, 2015 Baller Share Posted July 19, 2015 That's helpful, the downturn was the only reason I could think of that they would have taken private equity. Makes sense Link to comment Share on other sites More sharing options...
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