Levin Capital Strategies L.P. Has $10.93 Million Stock Position in 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. increased its stake in shares of MarineMax, Inc. (NYSE:HZO - Free Report) by 42.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 508,287 shares of the specialty retailer's stock after acquiring an additional 150,976 shares during the quarter. Levin Capital Strategies L.P. owned about 2.37% of MarineMax worth $10,928,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Invesco Ltd. lifted its position in MarineMax by 17.3% in the fourth quarter. Invesco Ltd. now owns 347,481 shares of the specialty retailer's stock worth $10,060,000 after purchasing an additional 51,352 shares during the period. Raymond James Financial Inc. bought a new stake in MarineMax in the 4th quarter valued at $572,000. Principal Financial Group Inc. raised its stake in shares of MarineMax by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 99,611 shares of the specialty retailer's stock valued at $2,142,000 after buying an additional 3,107 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of MarineMax during the 1st quarter worth about $726,000. Finally, Vanguard Group Inc. boosted its position in shares of MarineMax by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,494,999 shares of the specialty retailer's stock valued at $43,280,000 after acquiring an additional 20,909 shares in the last quarter. Institutional investors own 92.85% of the company's stock.

MarineMax Trading Down 1.5%

NYSE:HZO traded down $0.35 during trading hours on Thursday, hitting $23.10. 400,334 shares of the stock were exchanged, compared to its average volume of 410,749. The company has a market capitalization of $495.79 million, a P/E ratio of -17.24 and a beta of 1.54. 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 company's 50 day moving average is $24.68 and its two-hundred day moving average is $24.19. MarineMax, Inc. has a twelve month low of $16.85 and a twelve month high of $37.86.

MarineMax (NYSE:HZO - Get Free Report) last issued its quarterly earnings results 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 analyst estimates 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 was down 13.3% compared to the same quarter last year. During the same period last year, the company earned $1.51 EPS. On average, sell-side analysts anticipate that MarineMax, Inc. will post 2.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wall Street Zen cut shares of MarineMax from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Truist Financial dropped their target price on MarineMax from $38.00 to $26.00 and set a "buy" rating for the company in a report on Monday, April 14th. B. Riley reaffirmed a "buy" rating on shares of MarineMax in a research note on Friday, July 25th. Finally, Citigroup reissued a "buy" rating and set a $32.00 price objective (up from $29.00) on shares of MarineMax in a report on Monday, June 16th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.25.

MarineMax 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.