Concentric Capital Strategies LP Takes $4.83 Million Position in MarineMax, Inc. (NYSE:HZO)

Concentric Capital Strategies LP bought a new position in shares of MarineMax, Inc. (NYSE:HZO) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 137,004 shares of the specialty retailer’s stock, valued at approximately $4,832,000.

Other hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in shares of MarineMax in the second quarter worth $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in MarineMax in the third quarter valued at about $67,000. Bfsg LLC lifted its stake in shares of MarineMax by 19.1% during the third quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock worth $150,000 after purchasing an additional 681 shares in the last quarter. James Investment Research Inc. purchased a new stake in shares of MarineMax in the third quarter worth about $203,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of MarineMax by 17.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,158 shares of the specialty retailer’s stock valued at $205,000 after buying an additional 924 shares in the last quarter. Hedge funds and other institutional investors own 92.85% of the company’s stock.

MarineMax Trading Up 5.5 %

NYSE HZO opened at $34.32 on Monday. The company has a market capitalization of $775.29 million, a price-to-earnings ratio of 20.80 and a beta of 1.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.34. MarineMax, Inc. has a 12 month low of $22.51 and a 12 month high of $39.85. The company’s fifty day moving average price is $31.49 and its two-hundred day moving average price is $31.78.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, October 31st. The specialty retailer reported $0.24 EPS for the quarter, topping the consensus estimate of $0.18 by $0.06. The business had revenue of $563.10 million for the quarter, compared to analysts’ expectations of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 earnings per share. As a group, research analysts predict that MarineMax, Inc. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HZO shares. Benchmark started coverage on MarineMax in a report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price target for the company. Citigroup raised shares of MarineMax from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $44.00 in a research note on Monday, September 9th. Finally, StockNews.com cut shares of MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, MarineMax currently has a consensus rating of “Moderate Buy” and an average target price of $41.83.

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.