Royce & Associates LP Sells 10,970 Shares of 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 reduced its stake 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 about 1.87% of MarineMax worth $8,625,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in HZO. Raymond James Financial Inc. bought a new stake in MarineMax during the fourth quarter worth approximately $572,000. Quantbot Technologies LP bought a new position in shares of MarineMax during the fourth quarter valued at approximately $129,000. Sei Investments Co. grew its stake in shares of MarineMax by 19.5% during the fourth quarter. Sei Investments Co. now owns 339,291 shares of the specialty retailer's stock valued at $9,822,000 after buying an additional 55,259 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of MarineMax during the fourth quarter valued at approximately $113,000. Finally, Vanguard Group Inc. increased its stake in MarineMax by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,494,999 shares of the specialty retailer's stock worth $43,280,000 after purchasing an additional 20,909 shares during the period. 92.85% of the stock is owned by institutional investors.

MarineMax Trading Up 1.4%

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

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 (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.67). The firm had revenue of $657.16 million during the quarter, compared to the consensus estimate of $737.82 million. MarineMax had a positive return on equity of 2.63% and a negative net margin of 1.15%. The firm's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period last year, the company earned $1.51 EPS. As a group, sell-side analysts forecast that MarineMax, Inc. will post 2.41 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on HZO shares. Truist Financial cut their price target on shares of MarineMax from $38.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Citigroup reaffirmed a "buy" rating and set a $32.00 target price (up from $29.00) on shares of MarineMax in a research report on Monday, June 16th. Finally, Wall Street Zen lowered MarineMax from a "hold" rating to a "sell" rating in a report on Saturday. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, MarineMax currently has an average rating of "Moderate Buy" and an average target price 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.