MarineMax, Inc. (NYSE:HZO – Get Free Report) saw a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 3,073,482 shares, a decline of 13.2% from the February 12th total of 3,540,733 shares. Based on an average trading volume of 540,002 shares, the days-to-cover ratio is presently 5.7 days. Approximately 14.4% of the shares of the company are sold short. Approximately 14.4% of the shares of the company are sold short. Based on an average trading volume of 540,002 shares, the days-to-cover ratio is presently 5.7 days.
Institutional Trading of MarineMax
Hedge funds and other institutional investors have recently made changes to their positions in the business. Boothbay Fund Management LLC purchased a new stake in shares of MarineMax during the third quarter worth approximately $17,372,000. Divisadero Street Capital Management LP acquired a new stake in shares of MarineMax during the 3rd quarter worth about $16,620,000. Invesco Ltd. lifted its position in MarineMax by 115.6% in the second quarter. Invesco Ltd. now owns 716,078 shares of the specialty retailer’s stock valued at $18,002,000 after buying an additional 383,926 shares during the last quarter. American Century Companies Inc. boosted its stake in MarineMax by 16.6% during the second quarter. American Century Companies Inc. now owns 2,432,173 shares of the specialty retailer’s stock worth $61,145,000 after buying an additional 345,833 shares during the period. Finally, Gagnon Securities LLC acquired a new stake in shares of MarineMax during the third quarter valued at about $6,620,000. Hedge funds and other institutional investors own 92.85% of the company’s stock.
Analyst Ratings Changes
HZO has been the subject of several recent analyst reports. B. Riley Financial reaffirmed a “buy” rating and set a $29.00 target price (up from $27.00) on shares of MarineMax in a research note on Friday, January 30th. Benchmark reissued a “buy” rating on shares of MarineMax in a research note on Friday, January 30th. Citigroup reissued a “buy” rating on shares of MarineMax in a report on Wednesday, January 14th. Weiss Ratings reissued a “sell (d)” rating on shares of MarineMax in a research note on Thursday, January 22nd. Finally, Loop Capital started coverage on MarineMax in a research report on Monday, December 22nd. They issued a “buy” rating and a $29.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.80.
MarineMax Trading Up 3.3%
Shares of NYSE:HZO traded up $0.83 during trading on Tuesday, reaching $26.26. The company’s stock had a trading volume of 121,052 shares, compared to its average volume of 457,535. MarineMax has a 12 month low of $16.85 and a 12 month high of $32.00. The company has a current ratio of 1.19, a quick ratio of 0.29 and a debt-to-equity ratio of 0.37. The firm’s 50 day simple moving average is $28.32 and its two-hundred day simple moving average is $26.16. The stock has a market capitalization of $578.51 million, a PE ratio of -9.81 and a beta of 1.66.
MarineMax (NYSE:HZO – Get Free Report) last released its earnings results on Thursday, January 29th. The specialty retailer reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.09). MarineMax had a negative net margin of 2.46% and a positive return on equity of 1.13%. The company had revenue of $505.18 million for the quarter, compared to the consensus estimate of $481.67 million. During the same period in the prior year, the firm posted $0.17 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts predict that MarineMax will post 2.41 EPS for the current fiscal year.
MarineMax announced that its board has authorized a share buyback program on Wednesday, March 4th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to purchase up to 15.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
About MarineMax
MarineMax, Inc is a publicly traded company on the New York Stock Exchange under the ticker HZO and is one of the largest recreational boat and yacht retailers in the United States. The company markets new and used motor yachts, sailing yachts, sport boats and personal watercraft, acting as an authorized dealer for leading manufacturers. In addition to boat sales, MarineMax provides service and maintenance, parts and accessory sales, training and education, and marina operations.
Operating through a network of sales centers, service facilities and marinas, MarineMax serves coastal and inland markets across the continental U.S.
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