Kennedy Capital Management Inc. Increases Stake in MarineMax, Inc. (HZO)

Kennedy Capital Management Inc. lifted its stake in shares of MarineMax, Inc. (NYSE:HZO) by 855.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 331,000 shares of the specialty retailer’s stock after purchasing an additional 296,343 shares during the quarter. Kennedy Capital Management Inc. owned about 1.26% of MarineMax worth $6,471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the company. Alps Advisors Inc. raised its position in shares of MarineMax by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 21,619 shares of the specialty retailer’s stock worth $423,000 after purchasing an additional 56 shares during the period. Arizona State Retirement System grew its holdings in MarineMax by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 12,722 shares of the specialty retailer’s stock worth $249,000 after buying an additional 100 shares in the last quarter. Legal & General Group Plc grew its holdings in MarineMax by 0.3% in the 1st quarter. Legal & General Group Plc now owns 40,772 shares of the specialty retailer’s stock worth $882,000 after buying an additional 105 shares in the last quarter. Texas Permanent School Fund grew its holdings in MarineMax by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 17,779 shares of the specialty retailer’s stock worth $348,000 after buying an additional 205 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its holdings in MarineMax by 2.8% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,880 shares of the specialty retailer’s stock worth $192,000 after buying an additional 240 shares in the last quarter. Institutional investors and hedge funds own 90.57% of the company’s stock.

MarineMax, Inc. (NYSE:HZO) opened at 15.65 on Wednesday. MarineMax, Inc. has a 52 week low of $13.80 and a 52 week high of $23.65. The company has a market capitalization of $379.92 million, a price-to-earnings ratio of 15.65 and a beta of 1.00. The firm’s 50-day moving average price is $15.42 and its 200-day moving average price is $18.92.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.11). The company had revenue of $329.80 million during the quarter, compared to analyst estimates of $383.01 million. MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. On average, equities analysts expect that MarineMax, Inc. will post $0.98 earnings per share for the current year.

MarineMax announced that its board has approved a share repurchase program on Wednesday, August 2nd that allows the company to buyback 2,000,000 shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

In related news, Director Dean S. Woodman sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $15.00, for a total value of $45,000.00. Following the completion of the sale, the director now owns 15,193 shares of the company’s stock, valued at $227,895. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dean S. Woodman sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $16.00, for a total transaction of $40,000.00. Following the completion of the sale, the director now directly owns 14,693 shares of the company’s stock, valued at approximately $235,088. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

A number of equities analysts recently issued reports on HZO shares. B. Riley reissued a “buy” rating and issued a $20.00 price objective on shares of MarineMax in a report on Friday, July 21st. TheStreet lowered MarineMax from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. BidaskClub lowered MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research lowered MarineMax from a “hold” rating to a “sell” rating in a report on Friday, June 30th. Finally, Ifs Securities reissued a “strong-buy” rating and issued a $20.00 price objective on shares of MarineMax in a report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $22.86.

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MarineMax Company Profile

MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.

Institutional Ownership by Quarter for MarineMax (NYSE:HZO)

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