BlackRock Inc. Acquires New Shares in MarineMax, Inc. $HZO

Key Points

• BlackRock acquired 3.18 million MarineMax shares worth approximately $116.4 million, giving it a 14.39% stake. Overall, institutional investors and hedge funds own 92.85% of HZO.
• Analysts have broadly turned more cautious, with several firms downgrading MarineMax to “Hold” or “Neutral.” The stock has one Buy rating and seven Holds, with a consensus price target of $43.
• MarineMax reported quarterly EPS of $0.81, narrowly below estimates, while revenue of $611.3 million fell 7% year over year and missed expectations. The stock opened at $52.18, near its 52-week high of $52.46.

BlackRock Inc. bought a new position in shares of MarineMax, Inc. (NYSE:HZO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,178,923 shares of the specialty retailer's stock, valued at approximately $116,412,000. BlackRock Inc. owned about 14.39% of MarineMax at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Royal Bank of Canada raised its holdings in MarineMax by 6.9% in the first quarter. Royal Bank of Canada now owns 140,829 shares of the specialty retailer's stock worth $3,027,000 after purchasing an additional 9,050 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of MarineMax by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,921 shares of the specialty retailer's stock worth $278,000 after purchasing an additional 546 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of MarineMax during the first quarter worth about $168,000. Goldman Sachs Group Inc. lifted its holdings in shares of MarineMax by 69.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 348,664 shares of the specialty retailer's stock valued at $7,496,000 after purchasing an additional 142,775 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of MarineMax by 115.6% in the 2nd quarter. Invesco Ltd. now owns 716,078 shares of the specialty retailer's stock valued at $18,002,000 after purchasing an additional 383,926 shares during the period. 92.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HZO shares. Truist Financial cut shares of MarineMax from a "buy" rating to a "hold" rating and upped their price target for the company from $39.00 to $53.00 in a report on Wednesday, August 12th. Northcoast Research lowered shares of MarineMax from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 12th. Benchmark cut shares of MarineMax from a "buy" rating to a "hold" rating in a research report on Monday, August 10th. B. Riley Financial lowered shares of MarineMax from a "buy" rating to a "neutral" rating and set a $35.00 target price for the company. in a research note on Tuesday, July 21st. Finally, Loop Capital cut MarineMax from a "buy" rating to a "hold" rating and set a $53.00 target price for the company. in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $43.00.

MarineMax Stock Performance

NYSE HZO opened at $52.18 on Friday. MarineMax, Inc. has a 1 year low of $21.42 and a 1 year high of $52.46. The firm has a market capitalization of $1.15 billion, a P/E ratio of 372.71 and a beta of 1.58. The firm's fifty day moving average price is $40.27 and its two-hundred day moving average price is $33.68. The company has a current ratio of 1.23, a quick ratio of 0.34 and a debt-to-equity ratio of 0.35.

MarineMax (NYSE:HZO - Get Free Report) last issued its earnings results on Thursday, July 23rd. The specialty retailer reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). MarineMax had a return on equity of 1.51% and a net margin of 0.18%.The business had revenue of $611.26 million for the quarter, compared to the consensus estimate of $682.29 million. During the same quarter in the prior year, the firm posted ($2.42) earnings per share. The business's revenue was down 7.0% compared to the same quarter last year. MarineMax has set its FY 2026 guidance at 0.400-0.950 EPS. As a group, research analysts anticipate that MarineMax, Inc. will post 0.69 EPS for the current year.

About MarineMax

MarineMax, Inc is a publicly traded company on the New York Stock Exchange under the ticker HZO and is one of the largest recreational boat and yacht retailers in the United States. The company markets new and used motor yachts, sailing yachts, sport boats and personal watercraft, acting as an authorized dealer for leading manufacturers. In addition to boat sales, MarineMax provides service and maintenance, parts and accessory sales, training and education, and marina operations.

Operating through a network of sales centers, service facilities and marinas, MarineMax serves coastal and inland markets across the continental U.S.

Want to see what other hedge funds are holding HZO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MarineMax, Inc. (NYSE:HZO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source