Levin Capital Strategies L.P. Sells 91,428 Shares of MarineMax, Inc. $HZO

Key Points

• Levin Capital Strategies cut its MarineMax stake by 13.1% in the first quarter, selling 91,428 shares and leaving it with 606,469 shares worth about $16.4 million.
• Institutional ownership remains high, with hedge funds and other investors holding 92.85% of MarineMax shares; several firms, including State Street and Invesco, increased their positions.
• MarineMax recently reported mixed quarterly results: earnings per share beat estimates, but revenue came in below expectations and fell 16.5% from a year earlier.

Levin Capital Strategies L.P. reduced its stake in MarineMax, Inc. (NYSE:HZO - Free Report) by 13.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 606,469 shares of the specialty retailer's stock after selling 91,428 shares during the quarter. MarineMax makes up approximately 1.2% of Levin Capital Strategies L.P.'s investment portfolio, making the stock its 23rd biggest position. Levin Capital Strategies L.P. owned approximately 2.75% of MarineMax worth $16,411,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp grew its holdings in MarineMax by 11.0% during the fourth quarter. State Street Corp now owns 953,009 shares of the specialty retailer's stock valued at $23,091,000 after purchasing an additional 94,356 shares during the period. Boothbay Fund Management LLC increased its position in MarineMax by 13.0% in the fourth quarter. Boothbay Fund Management LLC now owns 774,918 shares of the specialty retailer's stock worth $18,776,000 after buying an additional 89,080 shares in the last quarter. Invesco Ltd. raised its stake in shares of MarineMax by 115.6% in the second quarter. Invesco Ltd. now owns 716,078 shares of the specialty retailer's stock worth $18,002,000 after buying an additional 383,926 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of MarineMax by 22.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 592,471 shares of the specialty retailer's stock worth $14,356,000 after buying an additional 109,241 shares during the period. Finally, CenterBook Partners LP lifted its position in shares of MarineMax by 74.7% during the 4th quarter. CenterBook Partners LP now owns 532,452 shares of the specialty retailer's stock valued at $12,901,000 after buying an additional 227,734 shares in the last quarter. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

MarineMax Price Performance

NYSE:HZO opened at $32.88 on Thursday. The business's 50-day simple moving average is $34.54 and its two-hundred day simple moving average is $30.53. MarineMax, Inc. has a 52 week low of $21.41 and a 52 week high of $38.14. The stock has a market cap of $724.46 million, a PE ratio of -11.19 and a beta of 1.58. The company has a quick ratio of 0.32, a current ratio of 1.18 and a debt-to-equity ratio of 0.36.

MarineMax (NYSE:HZO - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The specialty retailer reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.07. MarineMax had a positive return on equity of 0.68% and a negative net margin of 2.83%.The firm had revenue of $527.41 million during the quarter, compared to analyst estimates of $617.21 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The business's quarterly revenue was down 16.5% compared to the same quarter last year. As a group, analysts forecast that MarineMax, Inc. will post 0.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings upgraded MarineMax from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, May 12th. Citigroup restated a "buy" rating on shares of MarineMax in a research note on Friday, April 24th. B. Riley Financial lowered shares of MarineMax from a "buy" rating to a "neutral" rating and set a $35.00 price target for the company. in a research report on Tuesday. Finally, Truist Financial upped their price target on shares of MarineMax from $34.00 to $39.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $34.50.

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.

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