MarineMax (NYSE:HZO) Sets New 1-Year Low After Earnings Miss

Shares of MarineMax, Inc. (NYSE:HZO) reached a new 52-week low on Thursday following a dissappointing earnings announcement. The stock traded as low as $22.51 and last traded at $23.59, with a volume of 364915 shares. The stock had previously closed at $27.18.

The specialty retailer reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.55). The business had revenue of $582.90 million for the quarter, compared to analysts’ expectations of $590.19 million. MarineMax had a return on equity of 10.44% and a net margin of 3.75%. MarineMax’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com lowered shares of MarineMax from a “hold” rating to a “sell” rating in a report on Saturday, January 27th. DA Davidson reiterated a “buy” rating and set a $34.00 price target on shares of MarineMax in a report on Friday, March 15th. Truist Financial decreased their target price on shares of MarineMax from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Stifel Nicolaus dropped their price target on shares of MarineMax from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.40.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HZO. Assenagon Asset Management S.A. boosted its stake in shares of MarineMax by 31.3% in the third quarter. Assenagon Asset Management S.A. now owns 73,707 shares of the specialty retailer’s stock valued at $2,419,000 after buying an additional 17,579 shares in the last quarter. Bfsg LLC purchased a new stake in MarineMax during the fourth quarter worth about $133,000. Jump Financial LLC grew its position in MarineMax by 101.8% during the third quarter. Jump Financial LLC now owns 33,507 shares of the specialty retailer’s stock worth $1,100,000 after buying an additional 16,907 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of MarineMax by 438.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 56,500 shares of the specialty retailer’s stock valued at $1,854,000 after acquiring an additional 46,000 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of MarineMax by 7.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 424,845 shares of the specialty retailer’s stock worth $13,943,000 after acquiring an additional 28,539 shares in the last quarter. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

MarineMax Stock Down 0.9 %

The firm has a 50 day moving average of $30.20 and a two-hundred day moving average of $31.44. The company has a current ratio of 1.28, a quick ratio of 0.35 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $565.97 million, a PE ratio of 6.28 and a beta of 1.69.

About MarineMax

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.