MarineMax (NYSE:HZO) Sets New 12-Month Low – Here’s What Happened

MarineMax, Inc. (NYSE:HZO)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $22.47 and last traded at $22.47, with a volume of 58820 shares trading hands. The stock had previously closed at $23.25.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Benchmark reissued a “buy” rating and set a $40.00 price target on shares of MarineMax in a research note on Friday, January 24th. DA Davidson dropped their target price on shares of MarineMax from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. StockNews.com upgraded MarineMax from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Finally, B. Riley upgraded MarineMax to a “strong-buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $41.50.

MarineMax Stock Up 3.5 %

The company has a market cap of $552.53 million, a price-to-earnings ratio of 10.22 and a beta of 1.91. The company has a current ratio of 1.19, a quick ratio of 0.24 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average price is $28.07 and its 200-day moving average price is $30.27.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, January 23rd. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.31. MarineMax had a return on equity of 4.96% and a net margin of 2.33%. Sell-side analysts predict that MarineMax, Inc. will post 2.41 earnings per share for the current year.

Insiders Place Their Bets

In other MarineMax news, Director Clint Moore sold 4,100 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $30.63, for a total transaction of $125,583.00. Following the completion of the transaction, the director now owns 23,560 shares of the company’s stock, valued at $721,642.80. This represents a 14.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Anthony E. Jr. Cassella sold 4,000 shares of MarineMax stock in a transaction on Monday, January 27th. The shares were sold at an average price of $31.06, for a total transaction of $124,240.00. Following the completion of the sale, the chief accounting officer now owns 11,451 shares in the company, valued at $355,668.06. The trade was a 25.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of MarineMax

A number of large investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in shares of MarineMax by 211.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,558 shares of the specialty retailer’s stock valued at $43,000 after purchasing an additional 1,058 shares during the period. US Bancorp DE increased its position in MarineMax by 49.6% during the fourth quarter. US Bancorp DE now owns 1,764 shares of the specialty retailer’s stock worth $51,000 after buying an additional 585 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in MarineMax in the third quarter valued at approximately $67,000. Aquatic Capital Management LLC acquired a new stake in shares of MarineMax in the fourth quarter valued at approximately $82,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of MarineMax during the 4th quarter worth approximately $113,000. Institutional investors and hedge funds own 92.85% of the company’s stock.

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.