Prescott Group Capital Management L.L.C. Has $2.21 Million Stock Position in MarineMax, Inc. (NYSE:HZO)

Key Points

• Prescott Group Capital Management L.L.C. reduced its stake in MarineMax, Inc. by 11.7%, now holding approximately 0.48% of the company, worth about $2.21 million.
• MarineMax reported Q2 earnings of $0.49 per share, significantly below the consensus estimate of $1.16, with revenues also falling short at $657.16 million.
• The stock has a current rating of "Buy" with a consensus price target of $33.25, despite a market cap of $490.77 million and recent performance indicating declines.

Prescott Group Capital Management L.L.C. lowered its stake in shares of MarineMax, Inc. (NYSE:HZO - Free Report) by 11.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,739 shares of the specialty retailer's stock after selling 13,630 shares during the quarter. Prescott Group Capital Management L.L.C. owned about 0.48% of MarineMax worth $2,209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Aquatic Capital Management LLC acquired a new position in shares of MarineMax during the 4th quarter valued at about $82,000. KLP Kapitalforvaltning AS acquired a new stake in MarineMax during the 4th quarter worth approximately $113,000. Quantbot Technologies LP acquired a new stake in MarineMax during the 4th quarter worth approximately $129,000. Price T Rowe Associates Inc. MD increased its position in MarineMax by 23.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,714 shares of the specialty retailer's stock worth $253,000 after purchasing an additional 1,653 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in MarineMax during the 4th quarter worth approximately $287,000. Institutional investors and hedge funds own 92.85% of the company's stock.

MarineMax Price Performance

HZO stock traded up $0.14 during trading hours on Tuesday, hitting $22.33. 201,988 shares of the stock traded hands, compared to its average volume of 341,479. The stock has a 50-day simple moving average of $24.49 and a 200 day simple moving average of $24.40. MarineMax, Inc. has a one year low of $16.85 and a one year high of $37.86. The company has a market cap of $479.32 million, a P/E ratio of -16.66 and a beta of 1.60. The company has a current ratio of 1.21, a quick ratio of 0.29 and a debt-to-equity ratio of 0.38.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HZO shares. Citigroup reissued a "buy" rating and set a $32.00 target price (up previously from $29.00) on shares of MarineMax in a research report on Monday, June 16th. Wall Street Zen cut MarineMax from a "hold" rating to a "sell" rating in a research note on Saturday. B. Riley reaffirmed a "buy" rating on shares of MarineMax in a research report on Friday. Finally, Truist Financial dropped their target price on MarineMax from $38.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, MarineMax has a consensus rating of "Moderate Buy" and an average 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.