Levin Capital Strategies L.P. Reduces Position in MarineMax, Inc. (NYSE:HZO)

Levin Capital Strategies L.P. lessened its stake in shares of MarineMax, Inc. (NYSE:HZO) by 38.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 434,520 shares of the specialty retailer’s stock after selling 273,919 shares during the period. MarineMax makes up about 1.8% of Levin Capital Strategies L.P.’s portfolio, making the stock its 19th biggest position. Levin Capital Strategies L.P. owned approximately 1.95% of MarineMax worth $16,903,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of HZO. Assenagon Asset Management S.A. lifted its stake in MarineMax by 31.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 73,707 shares of the specialty retailer’s stock valued at $2,419,000 after acquiring an additional 17,579 shares during the period. Bfsg LLC acquired a new position in MarineMax during the fourth quarter worth $133,000. Louisiana State Employees Retirement System purchased a new stake in shares of MarineMax during the fourth quarter worth $389,000. Jump Financial LLC grew its holdings in shares of MarineMax by 101.8% during the third quarter. Jump Financial LLC now owns 33,507 shares of the specialty retailer’s stock worth $1,100,000 after buying an additional 16,907 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of MarineMax by 438.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 56,500 shares of the specialty retailer’s stock worth $1,854,000 after buying an additional 46,000 shares in the last quarter. Hedge funds and other institutional investors own 92.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HZO. Stifel Nicolaus dropped their target price on shares of MarineMax from $37.00 to $35.00 and set a “buy” rating for the company in a report on Friday, April 26th. StockNews.com lowered shares of MarineMax from a “hold” rating to a “sell” rating in a report on Saturday, January 27th. Truist Financial dropped their price objective on shares of MarineMax from $40.00 to $35.00 and set a “buy” rating for the company in a report on Friday, April 26th. Finally, DA Davidson reissued a “buy” rating and issued a $34.00 price objective on shares of MarineMax in a report on Friday, March 15th. 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.75.

MarineMax Stock Up 1.7 %

Shares of HZO traded up $0.42 during mid-day trading on Thursday, hitting $24.93. 151,878 shares of the company’s stock were exchanged, compared to its average volume of 331,477. The company has a market cap of $555.94 million, a price-to-earnings ratio of 8.88 and a beta of 1.78. MarineMax, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $42.88. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.34 and a current ratio of 1.24. The stock’s 50-day moving average is $29.84 and its 200-day moving average is $31.32.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.55). The business had revenue of $582.90 million for the quarter, compared to analyst estimates of $590.19 million. MarineMax had a return on equity of 7.66% and a net margin of 2.56%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.23 EPS. On average, sell-side analysts anticipate that MarineMax, Inc. will post 2.46 earnings per share for the current fiscal year.

Insider Activity at MarineMax

In other MarineMax news, EVP Charles A. Cashman sold 7,500 shares of the 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 transaction, the executive vice president now directly 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 is accessible through the SEC website. 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 transaction of $223,200.00. Following the transaction, the executive vice president now directly owns 63,981 shares in the company, valued at $1,904,074.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Clint Moore sold 4,000 shares of the firm’s 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 transaction, the director now owns 20,544 shares in the company, valued at $639,329.28. The disclosure for this sale can be found here. 4.00% of the stock is owned by corporate insiders.

About MarineMax

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.