MarineMax, Inc. (NYSE:HZO) Short Interest Update

MarineMax, Inc. (NYSE:HZO) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,680,000 shares, a decline of 10.2% from the October 15th total of 1,870,000 shares. Approximately 8.6% of the shares of the company are sold short. Based on an average daily volume of 237,700 shares, the short-interest ratio is presently 7.1 days.

MarineMax Stock Performance

MarineMax stock traded up $0.02 during trading hours on Monday, hitting $29.42. 93,048 shares of the stock traded hands, compared to its average volume of 305,429. MarineMax has a 1 year low of $22.51 and a 1 year high of $39.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.34. The stock has a market capitalization of $656.48 million, a price-to-earnings ratio of 17.81 and a beta of 1.85. The firm’s 50 day moving average price is $31.90 and its 200-day moving average price is $31.45.

MarineMax (NYSE:HZO) last posted its quarterly earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. The company had revenue of $563.10 million for the quarter, compared to analysts’ expectations of $576.49 million. During the same period last year, the firm earned $0.69 earnings per share. MarineMax’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities analysts expect that MarineMax will post 2.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup raised shares of MarineMax from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $44.00 in a research report on Monday, September 9th. DA Davidson boosted their price target on MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Benchmark started coverage on MarineMax in a research report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 target price on the stock. Truist Financial raised their target price on MarineMax from $35.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, StockNews.com downgraded MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat, MarineMax currently has a consensus rating of “Moderate Buy” and an average target price of $41.83.

Institutional Investors Weigh In On MarineMax

Several hedge funds have recently made changes to their positions in HZO. Dimensional Fund Advisors LP increased its position in MarineMax by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock worth $46,767,000 after acquiring an additional 110,601 shares during the period. Millennium Management LLC increased its position in shares of MarineMax by 22.7% in the second quarter. Millennium Management LLC now owns 401,978 shares of the specialty retailer’s stock worth $13,012,000 after purchasing an additional 74,451 shares during the period. Victory Capital Management Inc. boosted its stake in shares of MarineMax by 60.0% during the second quarter. Victory Capital Management Inc. now owns 55,243 shares of the specialty retailer’s stock valued at $1,788,000 after purchasing an additional 20,724 shares in the last quarter. Sei Investments Co. lifted its stake in shares of MarineMax by 1.6% in the first quarter. Sei Investments Co. now owns 301,781 shares of the specialty retailer’s stock worth $10,037,000 after acquiring an additional 4,825 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of MarineMax by 342.7% during the second quarter. Assenagon Asset Management S.A. now owns 29,785 shares of the specialty retailer’s stock valued at $964,000 after acquiring an additional 23,057 shares in the last quarter. Hedge funds and other institutional investors own 92.85% of the company’s stock.

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.