ProShare Advisors LLC Makes New Investment in MarineMax, Inc. $HZO

ProShare Advisors LLC purchased a new stake in shares of MarineMax, Inc. (NYSE:HZO) during the 3rd quarter, Holdings Channel reports. The fund purchased 9,779 shares of the specialty retailer’s stock, valued at approximately $511,000.

Several other hedge funds have also recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in MarineMax in the 2nd quarter worth approximately $59,000. GAMMA Investing LLC raised its stake in shares of MarineMax by 22.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,941 shares of the specialty retailer’s stock worth $71,000 after purchasing an additional 360 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of MarineMax by 42.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,754 shares of the specialty retailer’s stock worth $92,000 after purchasing an additional 519 shares in the last quarter. Fifth Third Bancorp lifted its stake in MarineMax by 3,613.3% in the first quarter. Fifth Third Bancorp now owns 4,196 shares of the specialty retailer’s stock valued at $114,000 after acquiring an additional 4,083 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in MarineMax by 5,419.5% in the first quarter. Bessemer Group Inc. now owns 6,789 shares of the specialty retailer’s stock valued at $184,000 after acquiring an additional 6,666 shares during the last quarter. 92.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HZO shares. Loop Capital downgraded shares of MarineMax from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a report on Tuesday, August 11th. Benchmark cut MarineMax from a “buy” rating to a “hold” rating in a research report on Monday, August 10th. Citigroup downgraded MarineMax from a “buy” rating to a “neutral” rating and upped their price target for the stock from $41.00 to $53.00 in a research note on Friday, October 2nd. Northcoast Research lowered MarineMax from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 12th. Finally, B. Riley Financial downgraded MarineMax from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a report on Tuesday, July 21st. Eight research analysts have rated the stock with a Hold rating. According to data from MarketBeat, MarineMax has an average rating of “Hold” and an average price target of $44.67.

MarineMax Price Performance

Shares of NYSE:HZO opened at $52.76 on Tuesday. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -128.67 and a beta of 1.72. The business has a 50 day moving average price of $52.41 and a 200 day moving average price of $38.09. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.34. MarineMax, Inc. has a twelve month low of $21.42 and a twelve month high of $52.89.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Wednesday, November 4th. The specialty retailer reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.12). MarineMax had a positive return on equity of 1.41% and a negative net margin of 0.38%. The business had revenue of $520.14 million for the quarter, compared to analyst estimates of $541.32 million. During the same quarter last year, the firm earned ($0.04) earnings per share. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. Research analysts predict that MarineMax, Inc. will post 1.41 earnings per share for the current year.

MarineMax Profile

MarineMax, Inc is a recreational boating and yacht retailer serving boaters in the United States and internationally. The company sells new and pre-owned boats and yachts, along with marine engines, parts and accessories.

Its services include boat maintenance and repair, financing and insurance, yacht brokerage, and other boating-related support. MarineMax also operates marinas and offers services such as yacht management and chartering through its businesses.

Founded in 1998, MarineMax has grown through acquisitions and operates retail locations across the United States.