MarineMax (NYSE:HZO) Stock Price Up 5% – Here’s What Happened

MarineMax, Inc. (NYSE:HZO) rose 5% during mid-day trading on Thursday . The company traded as high as $24.68 and last traded at $24.77. Approximately 47,738 shares traded hands during trading, a decline of 82% from the average daily volume of 271,491 shares. The stock had previously closed at $23.58.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HZO shares. StockNews.com raised MarineMax from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. DA Davidson dropped their target price on shares of MarineMax from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. B. Riley upgraded shares of MarineMax to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of MarineMax in a report on Friday, January 24th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $41.50.

MarineMax Price Performance

The firm has a market cap of $551.33 million, a price-to-earnings ratio of 10.17 and a beta of 1.91. The stock has a 50-day moving average price of $28.17 and a 200 day moving average price of $30.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.19 and a quick ratio of 0.24.

MarineMax (NYSE:HZO) last posted its quarterly earnings results on Thursday, January 23rd. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.31. MarineMax had a net margin of 2.33% and a return on equity of 4.96%. As a group, equities research analysts forecast that MarineMax, Inc. will post 2.41 earnings per share for the current fiscal year.

Insider Transactions at MarineMax

In related news, CAO Anthony E. Jr. Cassella sold 4,000 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $31.06, for a total transaction of $124,240.00. Following the completion of the sale, the chief accounting officer now owns 11,451 shares of the company’s stock, valued at $355,668.06. This represents a 25.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clint Moore sold 4,100 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $30.63, for a total value of $125,583.00. Following the completion of the sale, the director now directly owns 23,560 shares in the company, valued at approximately $721,642.80. This trade represents a 14.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On MarineMax

Several large investors have recently made changes to their positions in HZO. American Century Companies Inc. lifted its position in MarineMax by 2.8% in the fourth quarter. American Century Companies Inc. now owns 2,032,468 shares of the specialty retailer’s stock worth $58,840,000 after purchasing an additional 55,592 shares during the period. Vanguard Group Inc. boosted its stake in MarineMax by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,494,999 shares of the specialty retailer’s stock valued at $43,280,000 after buying an additional 20,909 shares in the last quarter. Royce & Associates LP grew its holdings in MarineMax by 11.7% during the fourth quarter. Royce & Associates LP now owns 412,156 shares of the specialty retailer’s stock worth $11,932,000 after acquiring an additional 43,330 shares during the period. Levin Capital Strategies L.P. raised its position in MarineMax by 1.3% in the fourth quarter. Levin Capital Strategies L.P. now owns 357,311 shares of the specialty retailer’s stock worth $10,344,000 after acquiring an additional 4,480 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in MarineMax by 17.3% in the 4th quarter. Invesco Ltd. now owns 347,481 shares of the specialty retailer’s stock valued at $10,060,000 after acquiring an additional 51,352 shares during the last quarter. Institutional investors and hedge funds own 92.85% of the company’s stock.

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.