MarineMax (NYSE:HZO) Hits New 1-Year Low at $22.51

MarineMax, Inc. (NYSE:HZO)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $22.51 and last traded at $23.59, with a volume of 364915 shares changing hands. The stock had previously closed at $27.18.

Wall Street Analyst Weigh In

HZO has been the subject of several research analyst reports. DA Davidson reiterated a “buy” rating and issued a $34.00 price objective on shares of MarineMax in a report on Friday, March 15th. StockNews.com lowered shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Saturday, January 27th. Finally, Truist Financial increased their price objective on shares of MarineMax from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $39.00.

MarineMax Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.28 and a quick ratio of 0.35. The company has a market capitalization of $570.88 million, a P/E ratio of 5.61 and a beta of 1.69. The firm’s 50-day moving average is $30.45 and its 200-day moving average is $31.52.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, January 25th. The specialty retailer reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.37). The company had revenue of $527.30 million during the quarter, compared to analysts’ expectations of $524.76 million. MarineMax had a return on equity of 10.44% and a net margin of 3.75%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.24 EPS. Analysts predict that MarineMax, Inc. will post 3.33 EPS for the current fiscal year.

Insider Transactions at MarineMax

In other news, Director Clint Moore sold 4,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $31.12, for a total value of $124,480.00. Following the completion of the transaction, the director now owns 20,544 shares of the company’s stock, valued at $639,329.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Charles A. Cashman sold 7,500 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $29.76, for a total transaction of $223,200.00. Following the sale, the executive vice president now owns 63,981 shares of the company’s stock, valued at $1,904,074.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Clint Moore sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $31.12, for a total value of $124,480.00. Following the transaction, the director now owns 20,544 shares of the company’s stock, valued at approximately $639,329.28. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HZO. Levin Capital Strategies L.P. grew its holdings in shares of MarineMax by 19.1% during the third quarter. Levin Capital Strategies L.P. now owns 708,439 shares of the specialty retailer’s stock valued at $23,251,000 after buying an additional 113,850 shares during the last quarter. Broad Bay Capital Management LP raised its stake in shares of MarineMax by 34.1% in the fourth quarter. Broad Bay Capital Management LP now owns 704,034 shares of the specialty retailer’s stock worth $27,387,000 after purchasing an additional 179,034 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of MarineMax by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 456,701 shares of the specialty retailer’s stock worth $17,766,000 after purchasing an additional 31,856 shares during the period. Private Management Group Inc. boosted its position in MarineMax by 5.2% in the fourth quarter. Private Management Group Inc. now owns 422,643 shares of the specialty retailer’s stock valued at $16,441,000 after buying an additional 20,782 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in MarineMax by 3.6% in the 3rd quarter. Invesco Ltd. now owns 248,337 shares of the specialty retailer’s stock worth $8,150,000 after buying an additional 8,685 shares during the period. 92.85% of the stock is owned by institutional investors and hedge funds.

MarineMax Company Profile

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates in two segments, Retail Operations and Product Manufacturing. The company sells new and used recreational boats, including pleasure and fishing boats, mega-yachts, yachts, sport cruisers, motor yachts, e-power yachts, pontoon boats, ski boats, jet boats, and other recreational boats.