Goldman Sachs Group Inc. Purchases 142,775 Shares of MarineMax, Inc. $HZO

Key Points

• Goldman Sachs Group Inc. increased its stake in MarineMax, Inc. by **69.3%** during the first quarter, holding 348,664 shares valued at approximately **$7.5 million**.
• MarineMax reported a **loss of $0.67 EPS** against analysts' estimates of **$1.16**, with **quarterly revenue down by 13.3%** year-over-year.
• Despite the recent poor earnings, analysts maintain a consensus **"Buy" rating** on MarineMax, with a target price increase by Citigroup to **$32.00**.

Goldman Sachs Group Inc. boosted its position in shares of MarineMax, Inc. (NYSE:HZO - Free Report) by 69.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 348,664 shares of the specialty retailer's stock after purchasing an additional 142,775 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.62% of MarineMax worth $7,496,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in MarineMax by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,375 shares of the specialty retailer's stock worth $358,000 after acquiring an additional 532 shares during the last quarter. SWS Partners raised its holdings in MarineMax by 3.4% during the first quarter. SWS Partners now owns 21,243 shares of the specialty retailer's stock valued at $457,000 after buying an additional 691 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in MarineMax by 23.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,714 shares of the specialty retailer's stock worth $253,000 after purchasing an additional 1,653 shares in the last quarter. State of Wyoming acquired a new stake in MarineMax in the 1st quarter valued at about $41,000. Finally, Jump Financial LLC raised its holdings in MarineMax by 23.0% in the 1st quarter. Jump Financial LLC now owns 13,040 shares of the specialty retailer's stock valued at $280,000 after acquiring an additional 2,440 shares during the period. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

MarineMax Stock Down 2.0%

MarineMax stock traded down $0.53 during midday trading on Friday, hitting $25.46. 81,257 shares of the stock were exchanged, compared to its average volume of 335,979. 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 stock has a market capitalization of $546.26 million, a price-to-earnings ratio of -19.00 and a beta of 1.57. MarineMax, Inc. has a 52-week low of $16.85 and a 52-week high of $36.42. The business's 50-day moving average price is $25.21 and its 200-day moving average price is $23.61.

MarineMax (NYSE:HZO - Get Free Report) last released 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). 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 firm's revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.51 earnings per share. MarineMax has set its FY 2025 guidance at 0.450-0.950 EPS. On average, research analysts expect that MarineMax, Inc. will post 2.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at MarineMax

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

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.