Vanguard Group Inc. Increases Stake in MarineMax, Inc. $HZO

Vanguard Group Inc. raised its holdings in shares of MarineMax, Inc. (NYSE:HZO) by 2.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,532,153 shares of the specialty retailer’s stock after buying an additional 37,154 shares during the period. Vanguard Group Inc. owned about 7.14% of MarineMax worth $32,941,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Private Management Group Inc. increased its holdings in MarineMax by 5.9% during the first quarter. Private Management Group Inc. now owns 559,096 shares of the specialty retailer’s stock valued at $12,021,000 after buying an additional 31,226 shares during the last quarter. Levin Capital Strategies L.P. increased its stake in shares of MarineMax by 42.3% in the first quarter. Levin Capital Strategies L.P. now owns 508,287 shares of the specialty retailer’s stock worth $10,928,000 after purchasing an additional 150,976 shares in the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of MarineMax in the fourth quarter worth $8,503,000. Concentric Capital Strategies LP increased its stake in shares of MarineMax by 79.4% in the fourth quarter. Concentric Capital Strategies LP now owns 245,767 shares of the specialty retailer’s stock worth $7,115,000 after purchasing an additional 108,763 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of MarineMax by 9.0% in the fourth quarter. Northern Trust Corp now owns 226,140 shares of the specialty retailer’s stock worth $6,547,000 after purchasing an additional 18,765 shares in the last quarter. 92.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HZO shares. Citigroup reissued a “buy” rating and issued a $32.00 price objective (up from $29.00) on shares of MarineMax in a research note on Monday, June 16th. B. Riley reissued a “buy” rating on shares of MarineMax in a research note on Friday, July 25th. Finally, Wall Street Zen cut shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $33.25.

Insider Buying and Selling at MarineMax

In other news, CEO W Brett Mcgill sold 60,000 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $27.53, for a total value of $1,651,800.00. Following the sale, the chief executive officer owned 173,038 shares of the company’s stock, valued at approximately $4,763,736.14. This represents a 25.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.00% of the company’s stock.

MarineMax Price Performance

HZO stock opened at $27.93 on Thursday. MarineMax, Inc. has a 52 week low of $16.85 and a 52 week high of $37.86. The company has a quick ratio of 0.29, a current ratio of 1.21 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $25.31 and a two-hundred day simple moving average of $23.79. The firm has a market capitalization of $599.33 million, a P/E ratio of -20.84 and a beta of 1.54.

MarineMax (NYSE:HZO) last released its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.49 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $737.82 million. During the same quarter last year, the business earned $1.51 EPS. MarineMax’s revenue for the quarter was down 13.3% compared to the same quarter last year. MarineMax has set its FY 2025 guidance at 0.450-0.950 EPS. Analysts anticipate that MarineMax, Inc. will post 2.41 earnings per share for the current fiscal year.

MarineMax 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.