MarineMax, Inc. $HZO Shares Newly Purchased by First Trust Capital Management L.P.

Key Points

• First Trust Capital Management bought 636,478 MarineMax shares in the third quarter, worth about $33.3 million. The position represented 2.88% of the company and was the fund’s 11th-largest holding.
• Institutional investors own 92.85% of MarineMax shares, with several firms recently establishing new positions, including BlackRock.
• MarineMax missed quarterly earnings and revenue estimates: it reported an $0.08-per-share loss and $520.14 million in revenue, down 5.8% year over year. Analysts’ consensus rating was Hold, with an average target price of $44.67.

First Trust Capital Management L.P. bought a new position in shares of MarineMax, Inc. (NYSE:HZO - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 636,478 shares of the specialty retailer's stock, valued at approximately $33,288,000. MarineMax accounts for approximately 1.6% of First Trust Capital Management L.P.'s portfolio, making the stock its 11th largest holding. First Trust Capital Management L.P. owned approximately 2.88% of MarineMax at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HZO. Pacer Advisors Inc. bought a new position in shares of MarineMax during the 1st quarter valued at about $4,050,000. De Lisle Partners LLP acquired a new position in shares of MarineMax in the 2nd quarter worth approximately $6,170,000. SWS Partners acquired a new position in shares of MarineMax in the 2nd quarter worth approximately $1,097,000. BlackRock Inc. bought a new stake in shares of MarineMax in the 2nd quarter worth approximately $116,412,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of MarineMax in the 2nd quarter worth approximately $4,535,000. 92.85% of the stock is currently owned by institutional investors.

MarineMax Trading Up 0.0%

NYSE:HZO opened at $52.80 on Friday. The stock has a fifty day simple moving average of $52.45 and a 200 day simple moving average of $38.46. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 94.27 and a beta of 1.72. MarineMax, Inc. has a 1-year low of $21.42 and a 1-year high of $52.89. The company has a quick ratio of 0.29, a current ratio of 1.19 and a debt-to-equity ratio of 0.34.

MarineMax (NYSE:HZO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The specialty retailer reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). MarineMax had a positive return on equity of 1.41% and a negative net margin of 0.38%. The company had revenue of $520.14 million for the quarter, compared to analyst estimates of $541.32 million. During the same quarter in the previous year, the firm posted ($0.04) EPS. MarineMax's quarterly revenue was down 5.8% on a year-over-year basis. Sell-side analysts forecast that MarineMax, Inc. will post 1.41 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on HZO shares. Truist Financial lowered shares of MarineMax from a "buy" rating to a "hold" rating and increased their target price for the company from $39.00 to $53.00 in a research note on Wednesday, August 12th. Citigroup lowered shares of MarineMax from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $41.00 to $53.00 in a research report on Friday, October 2nd. Weiss Ratings upgraded shares of MarineMax from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Northcoast Research cut MarineMax from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 12th. Finally, B. Riley Financial downgraded MarineMax from a "buy" rating to a "neutral" rating and set a $35.00 price objective for the company. in a research report on Tuesday, July 21st. Eight analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $44.67.

About MarineMax

MarineMax, Inc. is a recreational boating and yacht retailer serving boaters in the United States and internationally. The company sells new and pre-owned boats and yachts, along with marine engines, parts and accessories. Its services include boat maintenance and repair, financing and insurance, yacht brokerage, and other boating-related support. MarineMax also operates marinas and offers services such as yacht management and chartering through its businesses. Founded in 1998, MarineMax has grown through acquisitions and operates retail locations across the United States.

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