Royce & Associates LP Has $8.63 Million Position in MarineMax, Inc. (NYSE:HZO)

Key Points

• Royce & Associates LP has reduced its stake in MarineMax by 2.7%, now holding approximately 401,186 shares valued at $8.6 million.
• MarineMax recently reported earnings per share of $0.49, missing analysts' expectations of $1.16 and reflecting a 13.3% year-over-year revenue decline.
• Wall Street analysts have mixed ratings for MarineMax, with a consensus of “Moderate Buy” and a price target averaging $33.25.

Royce & Associates LP cut its position in shares of MarineMax, Inc. (NYSE:HZO - Free Report) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 401,186 shares of the specialty retailer's stock after selling 10,970 shares during the quarter. Royce & Associates LP owned 1.87% of MarineMax worth $8,625,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in HZO. Aquatic Capital Management LLC acquired a new position in MarineMax during the fourth quarter worth about $82,000. KLP Kapitalforvaltning AS acquired a new stake in MarineMax during the 4th quarter worth about $113,000. Quantbot Technologies LP acquired a new stake in shares of MarineMax during the 4th quarter valued at about $129,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 valued at $253,000 after buying an additional 1,653 shares during the last quarter. Finally, Caxton Associates LP acquired a new stake in shares of MarineMax during the 4th quarter valued at about $287,000. 92.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HZO shares. Truist Financial reduced their target price on MarineMax from $38.00 to $26.00 and set a "buy" rating for the company in a report on Monday, April 14th. Citigroup reaffirmed a "buy" rating and issued a $32.00 price target (up from $29.00) on shares of MarineMax in a research report on Monday, June 16th. Wall Street Zen downgraded MarineMax from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, B. Riley reaffirmed a "buy" rating on shares of MarineMax in a research report on Friday. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.25.

MarineMax Trading Down 0.2%

NYSE:HZO traded down $0.04 during mid-day trading on Tuesday, hitting $22.16. The company had a trading volume of 109,846 shares, compared to its average volume of 340,882. The firm has a market cap of $475.67 million, a P/E ratio of -16.54 and a beta of 1.60. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.29 and a current ratio of 1.21. The business's fifty day moving average is $24.49 and its two-hundred day moving average is $24.40. MarineMax, Inc. has a fifty-two week low of $16.85 and a fifty-two week high of $37.86.

MarineMax (NYSE:HZO - Get Free Report) last announced its 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 firm had revenue of $657.16 million during the quarter, compared to analyst estimates of $737.82 million. MarineMax had a negative net margin of 1.15% and a positive return on equity of 2.63%. The firm's quarterly revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.51 EPS. As a group, research analysts expect that MarineMax, Inc. will post 2.41 earnings per share for the current year.

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.