Bank of New York Mellon Corp Sells 5,448 Shares of MarineMax, Inc. (NYSE:HZO)

Bank of New York Mellon Corp reduced its position in MarineMax, Inc. (NYSE:HZO) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,344 shares of the specialty retailer’s stock after selling 5,448 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.57% of MarineMax worth $2,781,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Aquatic Capital Management LLC acquired a new position in MarineMax during the fourth quarter worth $82,000. KLP Kapitalforvaltning AS acquired a new position in MarineMax during the fourth quarter worth $113,000. Quantbot Technologies LP acquired a new position in MarineMax during the fourth quarter worth $129,000. Price T Rowe Associates Inc. MD raised its stake in MarineMax by 23.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,714 shares of the specialty retailer’s stock worth $253,000 after acquiring an additional 1,653 shares in the last quarter. Finally, Caxton Associates LP acquired a new position in MarineMax during the fourth quarter worth $287,000. 92.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on HZO shares. Truist Financial dropped their price objective on MarineMax from $38.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Citigroup reaffirmed a “buy” rating and set a $32.00 price target (up from $29.00) on shares of MarineMax in a report on Monday, June 16th. Finally, Wall Street Zen cut MarineMax from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.25.

MarineMax Stock Performance

Shares of NYSE:HZO opened at $23.02 on Monday. MarineMax, Inc. has a twelve month low of $16.85 and a twelve month high of $38.20. The firm has a market cap of $494.20 million, a PE ratio of -17.18 and a beta of 1.60. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.29 and a current ratio of 1.21. The business has a fifty day moving average of $24.51 and a 200-day moving average of $24.43.

MarineMax (NYSE:HZO) last announced its earnings results on Thursday, July 24th. The specialty retailer reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.67). MarineMax had a negative net margin of 1.15% and a positive return on equity of 2.63%. The business had revenue of $657.16 million during the quarter, compared to analyst estimates of $737.82 million. During the same quarter last year, the business posted $1.51 earnings per share. The business’s quarterly revenue was down 13.3% compared to the same quarter last year. On average, equities research analysts predict that MarineMax, Inc. will post 2.41 EPS for the current fiscal year.

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.