Vanguard Group Inc. Purchases 37,154 Shares of MarineMax, Inc. $HZO

Key Points

• Vanguard Group Inc. raised its stake in MarineMax by 2.5% in Q1, owning approximately 7.14% of the company, valued at $32.94 million.
• Analysts currently have a consensus rating of "Buy" for MarineMax, with a target price of $33.25, though the company missed earnings expectations recently.
• CEO W Brett Mcgill sold 60,000 shares, reducing his ownership by 25.75%, which has sparked some attention regarding insider trading activities.

Vanguard Group Inc. increased its holdings in shares of MarineMax, Inc. (NYSE:HZO - Free Report) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,532,153 shares of the specialty retailer's stock after buying an additional 37,154 shares during the period. Vanguard Group Inc. owned 7.14% of MarineMax worth $32,941,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Levin Capital Strategies L.P. boosted its position 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 worth $10,928,000 after purchasing an additional 150,976 shares during the last quarter. XTX Topco Ltd bought a new position in shares of MarineMax in the 1st quarter worth $613,000. De Lisle Partners LLP boosted its position in shares of MarineMax by 6.4% in the 1st quarter. De Lisle Partners LLP now owns 165,549 shares of the specialty retailer's stock worth $3,563,000 after purchasing an additional 10,000 shares during the last quarter. Private Management Group Inc. boosted its position 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 worth $12,021,000 after purchasing an additional 31,226 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of MarineMax by 31.6% in the 1st quarter. Victory Capital Management Inc. now owns 152,597 shares of the specialty retailer's stock worth $3,281,000 after purchasing an additional 36,606 shares during the last quarter. 92.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. B. Riley restated a "buy" rating on shares of MarineMax in a research report on Friday, July 25th. Wall Street Zen lowered MarineMax from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, Citigroup restated 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. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, MarineMax presently has an average rating of "Buy" and an average price target of $33.25.

Insider Activity at MarineMax

In other news, CEO W Brett Mcgill sold 60,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 173,038 shares in the company, valued at $4,763,736.14. The trade was a 25.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.00% of the stock is currently owned by company insiders.

MarineMax Trading Down 3.4%

HZO stock traded down $0.89 during midday trading on Tuesday, hitting $25.46. 265,258 shares of the company's stock were exchanged, compared to its average volume of 288,760. The stock's fifty day moving average price is $25.40 and its 200-day moving average price is $23.66. 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 company has a market cap of $546.35 million, a PE ratio of -19.00 and a beta of 1.57. MarineMax, Inc. has a one year low of $16.85 and a one year high of $37.86.

MarineMax (NYSE:HZO - Get Free Report) last posted 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). The business had revenue of $657.16 million for 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 business's revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 earnings per share. MarineMax has set its FY 2025 guidance at 0.450-0.950 EPS. Research analysts predict that MarineMax, Inc. will post 2.41 earnings per share for the current fiscal 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.