Arizona State Retirement System Makes New $214,000 Investment in MarineMax, Inc. (NYSE:HZO)

Arizona State Retirement System purchased a new stake in MarineMax, Inc. (NYSE:HZO) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 5,513 shares of the specialty retailer’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also made changes to their positions in HZO. Envestnet Asset Management Inc. increased its holdings in shares of MarineMax by 12.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,816 shares of the specialty retailer’s stock valued at $234,000 after acquiring an additional 662 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of MarineMax by 166.2% in the 1st quarter. JPMorgan Chase & Co. now owns 99,900 shares of the specialty retailer’s stock valued at $4,022,000 after acquiring an additional 62,369 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of MarineMax by 479.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 24,797 shares of the specialty retailer’s stock valued at $998,000 after acquiring an additional 20,518 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of MarineMax by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 230,123 shares of the specialty retailer’s stock valued at $9,265,000 after acquiring an additional 1,293 shares during the period. Finally, US Bancorp DE increased its holdings in shares of MarineMax by 149.0% in the 1st quarter. US Bancorp DE now owns 757 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 453 shares during the period. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

MarineMax Stock Performance

Shares of HZO stock opened at $28.03 on Monday. The stock has a market cap of $625.07 million, a PE ratio of 6.94 and a beta of 1.69. The business has a 50-day simple moving average of $30.69 and a 200-day simple moving average of $31.60. The company has a quick ratio of 0.35, a current ratio of 1.28 and a debt-to-equity ratio of 0.41. MarineMax, Inc. has a 52-week low of $25.60 and a 52-week high of $42.88.

MarineMax (NYSE:HZO) last released its quarterly earnings results on Thursday, January 25th. The specialty retailer reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.37). The business had revenue of $527.30 million during the quarter, compared to analyst estimates of $524.76 million. MarineMax had a return on equity of 10.44% and a net margin of 3.75%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 EPS. On average, equities analysts expect that MarineMax, Inc. will post 3.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HZO shares. Truist Financial lifted their price target on MarineMax from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. DA Davidson restated a “buy” rating and set a $34.00 target price on shares of MarineMax in a research note on Friday, March 15th. Finally, StockNews.com downgraded MarineMax from a “hold” rating to a “sell” rating in a research note on Saturday, January 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Insider Buying and Selling

In related news, Director Clint Moore sold 4,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $31.12, for a total value of $124,480.00. Following the completion of the transaction, the director now owns 20,544 shares of the company’s stock, valued at approximately $639,329.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other MarineMax news, Director Clint Moore sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 in the company, valued at approximately $639,329.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Charles A. Cashman sold 7,500 shares of the business’s 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 sale, the executive vice president now owns 63,981 shares of the company’s stock, valued at $1,904,074.56. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

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.