MarineMax, Inc. $HZO Shares Acquired by Broad Bay Capital Management LP

Key Points

• Broad Bay Capital Management LP increased its stake in MarineMax, Inc. by 22.6%, now holding approximately 3.93% of the company's shares worth $18.14 million.
• MarineMax's recent earnings report showed a significant miss, with earnings per share at $0.49 against an expected $1.16, and revenues of $657.16 million compared to a $737.82 million estimate.
• Despite the recent challenges, Wall Street's consensus rating for MarineMax remains a "Buy," with an average price target of $33.25 from five analysts.

Broad Bay Capital Management LP increased its position in shares of MarineMax, Inc. (NYSE:HZO - Free Report) by 22.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 843,756 shares of the specialty retailer's stock after acquiring an additional 155,750 shares during the quarter. MarineMax makes up about 2.7% of Broad Bay Capital Management LP's portfolio, making the stock its 17th biggest holding. Broad Bay Capital Management LP owned approximately 3.93% of MarineMax worth $18,141,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Wyoming acquired a new position in shares of MarineMax during the 1st quarter valued at about $41,000. Aquatic Capital Management LLC acquired a new position in MarineMax in the fourth quarter valued at about $82,000. Price T Rowe Associates Inc. MD lifted its position in MarineMax by 23.4% in the fourth 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 last quarter. Caxton Associates LP acquired a new position in MarineMax in the fourth quarter valued at about $287,000. Finally, Nexpoint Asset Management L.P. lifted its position in MarineMax by 70.1% in the fourth quarter. Nexpoint Asset Management L.P. now owns 11,955 shares of the specialty retailer's stock valued at $346,000 after buying an additional 4,925 shares during the last quarter. Institutional investors and hedge funds own 92.85% of the company's stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CEO W Brett Mcgill sold 60,000 shares of MarineMax stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $27.53, for a total value of $1,651,800.00. Following the completion of the transaction, the chief executive officer owned 173,038 shares in the company, valued at $4,763,736.14. The trade was a 25.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is currently owned by company insiders.

MarineMax Trading Down 1.9%

NYSE:HZO traded down $0.50 on Wednesday, reaching $25.07. 68,569 shares of the company's stock were exchanged, compared to its average volume of 339,717. 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 firm has a market capitalization of $538.00 million, a price-to-earnings ratio of -18.70 and a beta of 1.57. The business has a fifty day moving average of $25.40 and a 200-day moving average of $23.66. MarineMax, Inc. has a 52-week low of $16.85 and a 52-week 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 analysts' consensus estimates of $1.16 by ($0.67). The business had revenue of $657.16 million for the quarter, compared to analysts' expectations of $737.82 million. MarineMax had a positive return on equity of 2.63% and a negative net margin of 1.15%.The firm's revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter last year, the company earned $1.51 earnings per share. 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 year.

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.