Algert Global LLC Reduces Holdings in MarineMax, Inc. $HZO

Key Points

• Algert Global LLC reduced its stake in MarineMax, Inc. by 51.8%, selling 76,020 shares and now owning 70,690 shares valued at approximately $1.52 million.
• MarineMax's stock received mixed ratings from analysts, with Citigroup maintaining a "buy" rating and increasing the price target to $32.00, while Wall Street Zen downgraded it to a "sell".
• In its latest earnings report, MarineMax missed estimates with $0.49 EPS compared to a consensus of $1.16, and its revenue declined 13.3% year-over-year.

Algert Global LLC trimmed its position in MarineMax, Inc. (NYSE:HZO - Free Report) by 51.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,690 shares of the specialty retailer's stock after selling 76,020 shares during the period. Algert Global LLC owned about 0.33% of MarineMax worth $1,520,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. raised its position in shares of MarineMax by 2.7% in the first quarter. American Century Companies Inc. now owns 2,086,340 shares of the specialty retailer's stock valued at $44,856,000 after buying an additional 53,872 shares during the last quarter. Vanguard Group Inc. grew its stake in MarineMax by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 1,532,153 shares of the specialty retailer's stock worth $32,941,000 after acquiring an additional 37,154 shares during the period. Private Management Group Inc. raised its holdings in MarineMax by 5.9% in the 1st quarter. Private Management Group Inc. now owns 559,096 shares of the specialty retailer's stock valued at $12,021,000 after acquiring an additional 31,226 shares during the last quarter. Levin Capital Strategies L.P. lifted its stake in shares of MarineMax by 42.3% during the 1st 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 during the period. Finally, CenterBook Partners LP boosted its holdings in shares of MarineMax by 155.8% during the first quarter. CenterBook Partners LP now owns 444,739 shares of the specialty retailer's stock worth $9,562,000 after purchasing an additional 270,859 shares during the last quarter. 92.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on HZO. Wall Street Zen lowered MarineMax from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Citigroup restated a "buy" rating and issued a $32.00 price target (up previously from $29.00) on shares of MarineMax in a report on Monday, June 16th. Finally, B. Riley reiterated a "buy" rating on shares of MarineMax in a report on Friday, July 25th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $33.25.

Insider Activity at MarineMax

In related news, CEO W Brett Mcgill sold 60,000 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $27.53, for a total transaction of $1,651,800.00. Following the transaction, the chief executive officer directly owned 173,038 shares of the company's stock, valued at approximately $4,763,736.14. The trade was a 25.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.00% of the company's stock.

MarineMax Stock Down 3.7%

Shares of NYSE:HZO traded down $1.03 during midday trading on Thursday, hitting $26.92. 108,521 shares of the company's stock traded hands, compared to its average volume of 340,175. The firm's fifty day moving average price is $25.31 and its two-hundred day moving average price is $23.79. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.29 and a current ratio of 1.21. MarineMax, Inc. has a twelve month low of $16.85 and a twelve month high of $37.86. The company has a market cap of $577.70 million, a PE ratio of -19.97 and a beta of 1.54.

MarineMax (NYSE:HZO - Get Free Report) 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). The company had revenue of $657.16 million during the quarter, compared to analysts' expectations of $737.82 million. MarineMax had a negative net margin of 1.15% and a positive return on equity of 2.63%. The company's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period last year, the business earned $1.51 earnings per share. MarineMax has set its FY 2025 guidance at 0.450-0.950 EPS. On average, equities research analysts anticipate 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.