MarineMax, Inc. (NYSE:HZO) Shares Acquired by Private Management Group Inc.

Key Points

• Private Management Group Inc. increased its ownership in MarineMax by 5.9% during the first quarter, bringing its total stake to approximately $12 million.
• MarineMax shares recently traded down 16.3%, with current earnings reported at $0.49 per share, missing estimates by $0.67.
• Analysts have mixed ratings on MarineMax, with a consensus "Buy" rating and a target of $33.25, despite a recent price target drop from $38.00 to $26.00.

Private Management Group Inc. grew its holdings in MarineMax, Inc. (NYSE:HZO - Free Report) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 559,096 shares of the specialty retailer's stock after purchasing an additional 31,226 shares during the period. Private Management Group Inc. owned about 2.60% of MarineMax worth $12,021,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in HZO. Aquatic Capital Management LLC purchased a new position in MarineMax during the 4th quarter valued at about $82,000. KLP Kapitalforvaltning AS purchased a new position in MarineMax during the fourth quarter valued at approximately $113,000. Quantbot Technologies LP bought a new position in MarineMax in the fourth quarter worth approximately $129,000. Price T Rowe Associates Inc. MD lifted its holdings in MarineMax by 23.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,714 shares of the specialty retailer's stock worth $253,000 after buying an additional 1,653 shares during the period. Finally, Caxton Associates LP bought a new stake in MarineMax during the 4th quarter valued at $287,000. 92.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HZO. Truist Financial cut their price target on MarineMax from $38.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Citigroup reiterated a "buy" rating and issued a $32.00 target price (up previously from $29.00) on shares of MarineMax in a research note on Monday, June 16th. Finally, Wall Street Zen lowered shares of MarineMax from a "hold" rating to a "sell" rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MarineMax presently has an average rating of "Moderate Buy" and a consensus target price of $33.25.

MarineMax Stock Performance

HZO stock traded up $0.31 during trading on Friday, reaching $23.02. The company had a trading volume of 698,194 shares, compared to its average volume of 320,348. The company has a market cap of $494.20 million, a price-to-earnings ratio of -17.18 and a beta of 1.60. MarineMax, Inc. has a twelve month low of $16.85 and a twelve month high of $38.20. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.31 and a current ratio of 1.21. The firm has a 50-day simple moving average of $24.51 and a 200-day simple moving average of $24.45.

MarineMax (NYSE:HZO - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.67). The company had revenue of $657.16 million for the quarter, compared to analysts' expectations of $737.82 million. MarineMax had a negative net margin of 1.15% and a positive return on equity of 2.63%. MarineMax's quarterly revenue was down 13.3% compared to the same quarter last year. During the same period last year, the firm earned $1.51 earnings per share. As a group, sell-side 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.