Public Sector Pension Investment Board Raises Stock Holdings in MarineMax, Inc. $HZO

Key Points

• The Public Sector Pension Investment Board increased its stake in MarineMax, Inc. by 28.6%, acquiring an additional 14,103 shares, bringing its total holdings to approximately 0.29% of the company valued at $1.36 million.
• MarineMax reported $0.49 EPS for the latest quarter, missing expectations of $1.16, with revenues down 13.3% year-over-year.
• Five analysts currently rate MarineMax as a Buy, with a consensus price target of $33.25, and Citigroup recently raised its price target to $32.00.

Public Sector Pension Investment Board grew its stake in MarineMax, Inc. (NYSE:HZO - Free Report) by 28.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 63,338 shares of the specialty retailer's stock after buying an additional 14,103 shares during the quarter. Public Sector Pension Investment Board owned 0.29% of MarineMax worth $1,362,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of MarineMax by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 1,532,153 shares of the specialty retailer's stock valued at $32,941,000 after buying an additional 37,154 shares during the period. Private Management Group Inc. boosted its stake in shares of MarineMax by 5.9% in the 1st quarter. Private Management Group Inc. now owns 559,096 shares of the specialty retailer's stock valued at $12,021,000 after buying an additional 31,226 shares during the period. Levin Capital Strategies L.P. boosted its stake in shares of MarineMax by 42.3% in the 1st quarter. Levin Capital Strategies L.P. now owns 508,287 shares of the specialty retailer's stock valued at $10,928,000 after buying an additional 150,976 shares during the period. CenterBook Partners LP boosted its stake in shares of MarineMax by 155.8% in the 1st quarter. CenterBook Partners LP now owns 444,739 shares of the specialty retailer's stock valued at $9,562,000 after buying an additional 270,859 shares during the period. Finally, Divisadero Street Capital Management LP purchased a new position in shares of MarineMax in the 4th quarter valued at about $8,503,000. Hedge funds and other institutional investors own 92.85% of the company's stock.

MarineMax Stock Up 1.4%

HZO stock traded up $0.38 during trading on Wednesday, hitting $27.93. 258,681 shares of the company's stock were exchanged, compared to its average volume of 329,162. The business has a 50-day moving average price of $25.31 and a two-hundred day moving average price of $23.79. The stock has a market capitalization of $599.33 million, a price-to-earnings ratio of -20.84 and a beta of 1.54. MarineMax, Inc. has a 52-week low of $16.85 and a 52-week high of $37.86. 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 issued 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). 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 during the quarter, compared to analysts' expectations of $737.82 million. During the same quarter in the prior year, the firm posted $1.51 EPS. MarineMax's quarterly revenue was down 13.3% compared to the same quarter last year. MarineMax has set its FY 2025 guidance at 0.450-0.950 EPS. As a group, equities research analysts expect that MarineMax, Inc. will post 2.41 EPS for the current year.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HZO. B. Riley reiterated a "buy" rating on shares of MarineMax in a research note on Friday, July 25th. Citigroup restated a "buy" rating and set 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 cut MarineMax from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $33.25.

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.