MarineMax (HZO) Sees Unusually-High Trading Volume Following Strong Earnings

MarineMax Inc (NYSE:HZO) shares saw unusually-strong trading volume on Wednesday following a better than expected earnings announcement. Approximately 17,623 shares changed hands during mid-day trading, a decline of 93% from the previous session’s volume of 236,813 shares.The stock last traded at $22.79 and had previously closed at $22.00.

The specialty retailer reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.22. MarineMax had a return on equity of 11.97% and a net margin of 3.34%. The business had revenue of $308.59 million during the quarter, compared to analyst estimates of $273.60 million. During the same period in the previous year, the company posted $0.22 EPS. The firm’s revenue was up 23.1% compared to the same quarter last year.

A number of analysts recently commented on HZO shares. Raymond James boosted their target price on MarineMax from $24.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Wednesday. Wedbush boosted their target price on MarineMax from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday. Craig Hallum set a $22.00 target price on MarineMax and gave the company a “hold” rating in a research report on Tuesday. B. Riley raised MarineMax from a “neutral” rating to a “buy” rating and boosted their target price for the company from $23.50 to $27.00 in a research report on Friday, July 27th. Finally, ValuEngine raised MarineMax from a “hold” rating to a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $26.00.

In other MarineMax news, Director Joseph Allen Watters sold 2,500 shares of MarineMax stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $21.17, for a total transaction of $52,925.00. Following the completion of the transaction, the director now owns 62,413 shares in the company, valued at approximately $1,321,283.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.00% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System acquired a new position in MarineMax during the 2nd quarter valued at about $190,000. Trexquant Investment LP purchased a new position in shares of MarineMax in the 2nd quarter worth approximately $202,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of MarineMax in the 2nd quarter worth approximately $285,000. Engineers Gate Manager LP purchased a new position in shares of MarineMax in the 2nd quarter worth approximately $306,000. Finally, AlphaMark Advisors LLC boosted its stake in shares of MarineMax by 100.0% in the 2nd quarter. AlphaMark Advisors LLC now owns 20,000 shares of the specialty retailer’s stock worth $379,000 after buying an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 89.20% of the company’s stock.

The company has a market capitalization of $593.68 million, a price-to-earnings ratio of 14.12 and a beta of 1.30.

MarineMax Company Profile (NYSE:HZO)

MarineMax, Inc operates as a recreational boat and yacht retailer in the United States. It sells new and used recreational boats, including pleasure boats, such as sport boats, sport cruisers, sport yachts, and other yachts; motor yachts; convertible yachts; pleasure boats; pontoon boats; fishing boats; ski boats; and jet boats.

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