MarineMax (NYSE:HZO) Trading Down 4.4% on Insider Selling

Key Points

• MarineMax's stock fell 4.4% after CEO W Brett Mcgill sold 60,000 shares, reducing his ownership by 25.75%.
• The company's recent earnings report showed a missed consensus estimate, with $0.49 earnings per share against an expected $1.16, and revenue down 13.3% year-over-year.
• Despite the decline, MarineMax maintains an average analyst rating of "Buy" with a consensus target price of $33.25.

MarineMax, Inc. (NYSE:HZO - Get Free Report)'s stock price traded down 4.4% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $26.53 and last traded at $26.70. 72,067 shares were traded during trading, a decline of 79% from the average session volume of 339,807 shares. The stock had previously closed at $27.94.

Specifically, CEO W Brett Mcgill sold 60,000 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $27.53, for a total transaction of $1,651,800.00. Following the transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of MarineMax from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Citigroup restated a "buy" rating and set a $32.00 price target (up from $29.00) on shares of MarineMax in a report on Monday, June 16th. Finally, B. Riley reiterated a "buy" rating on shares of MarineMax in a research note on Friday, July 25th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $33.25.

MarineMax Stock Down 4.3%

The stock's fifty day moving average is $25.31 and its two-hundred day moving average is $23.79. The company has a current ratio of 1.21, a quick ratio of 0.29 and a debt-to-equity ratio of 0.38. The firm has a market cap of $573.73 million, a P/E ratio of -19.95 and a beta of 1.54.

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 analysts' consensus estimates of $1.16 by ($0.67). The firm 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 period last year, the company posted $1.51 EPS. MarineMax has set its FY 2025 guidance at 0.450-0.950 EPS. As a group, research analysts anticipate that MarineMax, Inc. will post 2.41 earnings per share for the current year.

Institutional Investors Weigh In On MarineMax

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in shares of MarineMax by 52.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the specialty retailer's stock valued at $34,000 after purchasing an additional 466 shares in the last quarter. State of Wyoming purchased a new stake in shares of MarineMax in the 1st quarter valued at $41,000. MTM Investment Management LLC purchased a new stake in MarineMax during the 2nd quarter valued at $42,000. Aquatic Capital Management LLC purchased a new stake in MarineMax during the 4th quarter valued at $82,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in MarineMax by 12.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,008 shares of the specialty retailer's stock valued at $126,000 after buying an additional 567 shares during the period. Hedge funds and other institutional investors own 92.85% of the company's stock.

MarineMax Company 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.

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