Russell Investments Group Ltd. Buys 8,500 Shares of MarineMax, Inc. (NYSE:HZO)

Posted by Defense World Staff on May 24th, 2023

Russell Investments Group Ltd. lifted its stake in MarineMax, Inc. (NYSE:HZO – Get Rating) by 22.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,093 shares of the specialty retailer’s stock after acquiring an additional 8,500 shares during the period. Russell Investments Group Ltd. owned 0.22% of MarineMax worth $1,470,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new position in shares of MarineMax in the 4th quarter worth $285,000. GMT Capital Corp purchased a new stake in MarineMax in the fourth quarter valued at about $6,481,000. Fisher Asset Management LLC purchased a new stake in MarineMax in the fourth quarter valued at about $1,513,000. SG Americas Securities LLC purchased a new stake in MarineMax in the fourth quarter valued at about $390,000. Finally, ARGI Investment Services LLC raised its stake in MarineMax by 13.7% in the fourth quarter. ARGI Investment Services LLC now owns 90,898 shares of the specialty retailer’s stock valued at $2,838,000 after buying an additional 10,927 shares during the last quarter. 95.93% of the stock is owned by institutional investors.

MarineMax Stock Up 2.9 %

Shares of HZO stock opened at $29.01 on Wednesday. The stock has a 50 day moving average of $27.86 and a 200 day moving average of $30.79. The company has a current ratio of 1.30, a quick ratio of 0.42 and a debt-to-equity ratio of 0.48. The stock has a market cap of $633.87 million, a P/E ratio of 4.06 and a beta of 1.45. MarineMax, Inc. has a twelve month low of $25.60 and a twelve month high of $44.03.

MarineMax (NYSE:HZO – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The specialty retailer reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.52). The company had revenue of $570.34 million for the quarter, compared to analysts’ expectations of $609.43 million. MarineMax had a net margin of 6.87% and a return on equity of 20.92%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.37 earnings per share. As a group, sell-side analysts expect that MarineMax, Inc. will post 5.13 EPS for the current year.

Insider Activity at MarineMax

In related news, EVP Charles A. Cashman sold 10,000 shares of MarineMax stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $34.92, for a total transaction of $349,200.00. Following the completion of the transaction, the executive vice president now directly owns 35,499 shares in the company, valued at $1,239,625.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on HZO. B. Riley decreased their price target on MarineMax from $52.00 to $48.00 in a research note on Friday, April 28th. Citigroup decreased their price target on MarineMax from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, January 27th. DA Davidson decreased their price target on MarineMax from $38.00 to $37.00 in a research note on Monday, May 1st. Raymond James reduced their price objective on MarineMax from $40.00 to $30.00 in a research note on Friday, April 28th. Finally, StockNews.com initiated coverage on MarineMax in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.17.

MarineMax Company Profile

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MarineMax, Inc engages in the provision of boating-related activities. The firm sells used and new sport boats, sport cruisers, sport yachts and fishing boats through retail stores. It also provides maintenance, repair, slip and storage services. The company was founded in January 1998 and is headquartered in Clearwater, FL.