Levin Capital Strategies L.P. Buys 150,976 Shares of MarineMax, Inc. (NYSE:HZO)

Key Points

• Levin Capital Strategies L.P. increased its stake in MarineMax, Inc. by 42.3%, owning approximately 2.37% of the company after acquiring an additional 150,976 shares.
• MarineMax reported $0.49 earnings per share for the last quarter, missing estimates by ($0.67), with a revenue of $657.16 million—down 13.3% from the previous year.
• Despite a mixed outlook, analysts have upgraded MarineMax with the average price target set at $33.25, indicating a "Moderate Buy" rating by five analysts, while one analyst recommended a sell.

Levin Capital Strategies L.P. boosted its holdings in shares of MarineMax, Inc. (NYSE:HZO - Free Report) by 42.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 508,287 shares of the specialty retailer's stock after purchasing an additional 150,976 shares during the period. Levin Capital Strategies L.P. owned approximately 2.37% of MarineMax worth $10,928,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HZO. Aquatic Capital Management LLC purchased a new stake in shares of MarineMax in the 4th quarter valued at approximately $82,000. KLP Kapitalforvaltning AS acquired a new position in MarineMax in the 4th quarter valued at approximately $113,000. Price T Rowe Associates Inc. MD increased its stake in MarineMax by 23.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,714 shares of the specialty retailer's stock valued at $253,000 after buying an additional 1,653 shares during the period. Caxton Associates LP acquired a new position in MarineMax in the 4th quarter valued at approximately $287,000. Finally, Jump Financial LLC acquired a new position in MarineMax in the 4th quarter valued at approximately $307,000. 92.85% of the stock is owned by institutional investors and hedge funds.

MarineMax Stock Performance

Shares of NYSE HZO traded down $0.54 during trading hours on Friday, hitting $22.52. 297,810 shares of the stock were exchanged, compared to its average volume of 420,262. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.21 and a quick ratio of 0.29. The company's 50 day moving average is $24.70 and its 200 day moving average is $24.15. The firm has a market capitalization of $483.21 million, a P/E ratio of -16.80 and a beta of 1.54. MarineMax, Inc. has a one year low of $16.85 and a one year high of $37.86.

MarineMax (NYSE:HZO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.67). The firm had revenue of $657.16 million for the quarter, compared to the consensus estimate of $737.82 million. MarineMax had a positive return on equity of 2.63% and a negative net margin of 1.15%. MarineMax's quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.51 earnings per share. On average, research analysts expect that MarineMax, Inc. will post 2.41 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Truist Financial dropped their price objective on shares of MarineMax from $38.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. B. Riley restated a "buy" rating on shares of MarineMax in a research note on Friday, July 25th. Wall Street Zen lowered shares of MarineMax from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Citigroup restated a "buy" rating and set a $32.00 price target (up previously from $29.00) on shares of MarineMax in a research note on Monday, June 16th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.25.

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.