Concentric Capital Strategies LP Takes Position in MarineMax, Inc. (NYSE:HZO)

Concentric Capital Strategies LP acquired a new position in MarineMax, Inc. (NYSE:HZO) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 137,004 shares of the specialty retailer’s stock, valued at approximately $4,832,000. Concentric Capital Strategies LP owned approximately 0.61% of MarineMax as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in HZO. Point72 Asia Singapore Pte. Ltd. acquired a new position in MarineMax during the third quarter worth about $67,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of MarineMax by 7.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,879 shares of the specialty retailer’s stock worth $2,182,000 after purchasing an additional 4,548 shares during the last quarter. De Lisle Partners LLP raised its position in shares of MarineMax by 19.5% during the 3rd quarter. De Lisle Partners LLP now owns 134,149 shares of the specialty retailer’s stock worth $4,728,000 after purchasing an additional 21,921 shares during the last quarter. Algert Global LLC purchased a new stake in MarineMax in the 3rd quarter valued at approximately $4,949,000. Finally, Intech Investment Management LLC acquired a new stake in MarineMax during the 3rd quarter valued at $912,000. 92.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HZO. StockNews.com downgraded MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. Citigroup upgraded shares of MarineMax from a “neutral” rating to a “buy” rating and upped their target price for the company from $40.00 to $44.00 in a report on Monday, September 9th. Finally, Benchmark initiated coverage on shares of MarineMax in a research report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, MarineMax currently has an average rating of “Moderate Buy” and an average price target of $41.83.

MarineMax Stock Up 5.5 %

HZO opened at $34.32 on Monday. The stock has a market capitalization of $775.29 million, a price-to-earnings ratio of 20.80 and a beta of 1.85. MarineMax, Inc. has a 12 month low of $22.51 and a 12 month 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 business has a 50-day moving average of $31.49 and a two-hundred day moving average of $31.78.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, October 31st. The specialty retailer reported $0.24 EPS for the quarter, topping the consensus estimate of $0.18 by $0.06. The firm had revenue of $563.10 million during the quarter, compared to analyst estimates of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. MarineMax’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. On average, research analysts expect that MarineMax, Inc. will post 2.33 earnings per share for the current year.

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.