Private Management Group Inc. Boosts Holdings in MarineMax, Inc. (NYSE:HZO)

Private Management Group Inc. raised its stake in shares of MarineMax, Inc. (NYSE:HZO) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 422,643 shares of the specialty retailer’s stock after purchasing an additional 20,782 shares during the period. Private Management Group Inc. owned 1.90% of MarineMax worth $16,441,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its position in shares of MarineMax by 31.3% in the third quarter. Assenagon Asset Management S.A. now owns 73,707 shares of the specialty retailer’s stock valued at $2,419,000 after buying an additional 17,579 shares during the last quarter. Jump Financial LLC raised its position in shares of MarineMax by 101.8% in the third quarter. Jump Financial LLC now owns 33,507 shares of the specialty retailer’s stock valued at $1,100,000 after buying an additional 16,907 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of MarineMax by 438.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 56,500 shares of the specialty retailer’s stock valued at $1,854,000 after buying an additional 46,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of MarineMax by 7.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 424,845 shares of the specialty retailer’s stock valued at $13,943,000 after buying an additional 28,539 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of MarineMax by 29.6% in the third quarter. Janney Montgomery Scott LLC now owns 17,607 shares of the specialty retailer’s stock valued at $578,000 after buying an additional 4,022 shares during the last quarter. 92.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of MarineMax from a “hold” rating to a “sell” rating in a research report on Saturday, January 27th. DA Davidson restated a “buy” rating and set a $34.00 price objective on shares of MarineMax in a research report on Friday, March 15th. Finally, Truist Financial raised their price objective on shares of MarineMax from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, MarineMax currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

MarineMax Stock Up 1.0 %

Shares of NYSE HZO traded up $0.27 during midday trading on Tuesday, hitting $27.94. The company’s stock had a trading volume of 268,631 shares, compared to its average volume of 309,954. The business’s fifty day simple moving average is $30.55 and its two-hundred day simple moving average is $31.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.28 and a quick ratio of 0.35. MarineMax, Inc. has a 1 year low of $25.60 and a 1 year high of $42.88. The firm has a market capitalization of $623.06 million, a price-to-earnings ratio of 6.92 and a beta of 1.69.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, January 25th. The specialty retailer reported $0.19 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.37). MarineMax had a net margin of 3.75% and a return on equity of 10.44%. The business had revenue of $527.30 million during the quarter, compared to analysts’ expectations of $524.76 million. During the same period in the previous year, the business posted $1.24 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts predict that MarineMax, Inc. will post 3.33 EPS for the current year.

Insider Activity

In other news, EVP Charles A. Cashman sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $29.76, for a total value of $223,200.00. Following the completion of the transaction, the executive vice president now owns 63,981 shares of the company’s stock, valued at $1,904,074.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Charles A. Cashman sold 7,500 shares of MarineMax stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $29.76, for a total value of $223,200.00. Following the completion of the transaction, the executive vice president now owns 63,981 shares in the company, valued at $1,904,074.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Clint Moore sold 4,000 shares of MarineMax stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $31.12, for a total transaction of $124,480.00. Following the completion of the transaction, the director now owns 20,544 shares of the company’s stock, valued at approximately $639,329.28. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

MarineMax Profile

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.