Invesco Ltd. Sells 15,329 Shares of MarineMax, Inc. $HZO

Key Points

• Invesco Ltd. reduced its stake in MarineMax, Inc. by 4.4%, selling 15,329 shares and holding 332,152 shares valued at about $7.14 million.
• MarineMax reported quarterly earnings of $0.49 EPS, falling short of analysts' expectations of $1.16, with revenue down 13.3% year-over-year at $657.16 million.
• The stock has received a consensus rating of "Buy" with a price target increase from Citigroup to $32.00, while other analysts issued mixed ratings.

Invesco Ltd. lowered its holdings in MarineMax, Inc. (NYSE:HZO - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 332,152 shares of the specialty retailer's stock after selling 15,329 shares during the period. Invesco Ltd. owned approximately 1.55% of MarineMax worth $7,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. CenterBook Partners LP raised its position in shares of MarineMax by 155.8% in the first quarter. CenterBook Partners LP now owns 444,739 shares of the specialty retailer's stock valued at $9,562,000 after purchasing an additional 270,859 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of MarineMax by 6.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 285,341 shares of the specialty retailer's stock valued at $6,135,000 after purchasing an additional 18,134 shares during the period. Vanguard Group Inc. raised its position in shares of MarineMax by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,532,153 shares of the specialty retailer's stock valued at $32,941,000 after purchasing an additional 37,154 shares during the period. Levin Capital Strategies L.P. raised its position 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 valued at $10,928,000 after purchasing an additional 150,976 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of MarineMax in the first quarter valued at approximately $613,000. Institutional investors own 92.85% of the company's stock.

MarineMax Stock Performance

MarineMax stock opened at $27.52 on Wednesday. The firm's 50 day simple moving average is $25.26 and its 200 day simple moving average is $23.76. The company has a current ratio of 1.21, a quick ratio of 0.29 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $590.64 million, a PE ratio of -20.54 and a beta of 1.54. MarineMax, Inc. has a 1-year low of $16.85 and a 1-year high of $37.86.

MarineMax (NYSE:HZO - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.67). MarineMax had a positive return on equity of 2.63% and a negative net margin of 1.15%.The company had revenue of $657.16 million during the quarter, compared to analysts' expectations of $737.82 million. During the same period in the prior year, the firm earned $1.51 EPS. MarineMax's quarterly revenue was down 13.3% on a year-over-year basis. MarineMax has set its FY 2025 guidance at 0.450-0.950 EPS. As a group, analysts expect that MarineMax, Inc. will post 2.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

MarineMax Company 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.

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