MarineMax (NYSE:HZO) Reaches New 52-Week Low – Here’s What Happened

MarineMax, Inc. (NYSE:HZO) shares hit a new 52-week low on Friday . The stock traded as low as $22.37 and last traded at $22.09, with a volume of 181571 shares traded. The stock had previously closed at $22.76.

Wall Street Analyst Weigh In

HZO has been the subject of a number of recent research reports. StockNews.com upgraded MarineMax from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. DA Davidson decreased their target price on shares of MarineMax from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Benchmark restated a “buy” rating and set a $40.00 price target on shares of MarineMax in a research report on Friday, January 24th. Finally, B. Riley upgraded shares of MarineMax to a “strong-buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, MarineMax has an average rating of “Buy” and an average target price of $41.50.

MarineMax Stock Performance

The company has a current ratio of 1.19, a quick ratio of 0.24 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average is $27.61 and its 200 day moving average is $30.02. The company has a market cap of $516.79 million, a PE ratio of 9.56 and a beta of 1.94.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, January 23rd. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.31. MarineMax had a return on equity of 4.96% and a net margin of 2.33%. As a group, research analysts predict that MarineMax, Inc. will post 2.41 EPS for the current fiscal year.

Insider Transactions at MarineMax

In related news, CAO Anthony E. Jr. Cassella sold 4,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $31.06, for a total value of $124,240.00. Following the completion of the sale, the chief accounting officer now owns 11,451 shares of the company’s stock, valued at approximately $355,668.06. This trade represents a 25.89 % 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. Also, Director Clint Moore sold 4,100 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $30.63, for a total value of $125,583.00. Following the transaction, the director now directly owns 23,560 shares in the company, valued at $721,642.80. This trade represents a 14.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On MarineMax

Several institutional investors and hedge funds have recently bought and sold shares of HZO. Victory Capital Management Inc. lifted its holdings in MarineMax by 134.3% in the third quarter. Victory Capital Management Inc. now owns 129,416 shares of the specialty retailer’s stock valued at $4,565,000 after acquiring an additional 74,173 shares during the last quarter. Royce & Associates LP raised its holdings in MarineMax by 45.2% in the 3rd quarter. Royce & Associates LP now owns 368,826 shares of the specialty retailer’s stock valued at $13,008,000 after buying an additional 114,880 shares during the period. Empowered Funds LLC lifted its position in MarineMax by 5.3% in the third quarter. Empowered Funds LLC now owns 21,473 shares of the specialty retailer’s stock valued at $757,000 after buying an additional 1,072 shares during the last quarter. Intech Investment Management LLC acquired a new position in MarineMax in the third quarter valued at about $912,000. Finally, Algert Global LLC purchased a new position in MarineMax during the third quarter worth about $4,949,000. 92.85% of the stock is currently owned by institutional investors and hedge funds.

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.