Victory Capital Management Inc. Acquires 36,606 Shares of MarineMax, Inc. (NYSE:HZO)

Key Points

• Victory Capital Management Inc. increased its stake in MarineMax, Inc. by 31.6%, owning approximately $3.28 million in shares as of the latest reporting period.
• MarineMax's stock has a consensus rating of "Moderate Buy" with an average price target of $33.25, despite recent downward revisions by some brokerages.
• The company reported a loss in quarterly earnings with an EPS of $0.49, significantly missing estimates and marking a 13.3% decline in year-over-year revenue.

Victory Capital Management Inc. raised its stake in MarineMax, Inc. (NYSE:HZO - Free Report) by 31.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 152,597 shares of the specialty retailer's stock after purchasing an additional 36,606 shares during the quarter. Victory Capital Management Inc. owned 0.67% of MarineMax worth $3,281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of MarineMax by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,375 shares of the specialty retailer's stock valued at $358,000 after buying an additional 532 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of MarineMax by 3.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 28,879 shares of the specialty retailer's stock valued at $836,000 after buying an additional 1,006 shares during the period. Wells Fargo & Company MN increased its stake in shares of MarineMax by 12.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,961 shares of the specialty retailer's stock valued at $375,000 after buying an additional 1,456 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of 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 valued at $253,000 after buying an additional 1,653 shares during the period. Finally, Peregrine Capital Management LLC increased its stake in shares of MarineMax by 1.7% during the first quarter. Peregrine Capital Management LLC now owns 157,205 shares of the specialty retailer's stock valued at $3,380,000 after buying an additional 2,600 shares during the period. Institutional investors own 92.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HZO. Citigroup reissued a "buy" rating and set a $32.00 target price (up from $29.00) on shares of MarineMax in a research note on Monday, June 16th. Wall Street Zen cut MarineMax from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Truist Financial reduced their price target on MarineMax from $38.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, B. Riley reaffirmed a "buy" rating on shares of MarineMax in a research note on Friday, July 25th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $33.25.

MarineMax Stock Down 0.2%

HZO stock traded down $0.06 during midday trading on Thursday, hitting $22.57. The stock had a trading volume of 60,227 shares, compared to its average volume of 342,521. MarineMax, Inc. has a 52-week low of $16.85 and a 52-week high of $37.86. The firm has a market cap of $484.34 million, a price-to-earnings ratio of -16.83 and a beta of 1.60. The business has a 50-day moving average of $24.50 and a two-hundred day moving average of $24.38. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.21 and a quick ratio of 0.29.

MarineMax (NYSE:HZO - Get Free Report) last released its earnings results on Thursday, July 24th. The specialty retailer reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.67). MarineMax had a positive return on equity of 2.63% and a negative net margin of 1.15%. The company had revenue of $657.16 million during the quarter, compared to analysts' expectations of $737.82 million. During the same period in the prior year, the company posted $1.51 earnings per share. The company's revenue was down 13.3% on a year-over-year basis. As a group, equities research analysts forecast 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.