Insider Selling: MarineMax, Inc. (HZO) Director Sells $40,000.00 in Stock
MarineMax, Inc. (NYSE:HZO) Director Dean S. Woodman sold 2,500 shares of the business’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 value of $40,000.00. Following the completion of the sale, the director now owns 14,693 shares of the company’s stock, valued at approximately $235,088. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
MarineMax, Inc. (HZO) opened at 15.85 on Thursday. MarineMax, Inc. has a one year low of $13.80 and a one year high of $23.65. The company’s 50 day moving average price is $16.30 and its 200-day moving average price is $19.40. The company has a market cap of $384.77 million, a P/E ratio of 15.85 and a beta of 1.00.
MarineMax (NYSE:HZO) last released its earnings results on Thursday, July 20th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by $0.11. MarineMax had a return on equity of 7.53% and a net margin of 2.45%. The company had revenue of $329.80 million during the quarter, compared to analysts’ expectations of $383.01 million. During the same quarter in the previous year, the company earned $0.57 EPS. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, analysts forecast that MarineMax, Inc. will post $0.99 EPS for the current fiscal year.
MarineMax declared that its board has authorized a share repurchase plan on Wednesday, August 2nd that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
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Several analysts have weighed in on the company. Ifs Securities reiterated a “strong-buy” rating and issued a $20.00 price objective on shares of MarineMax in a research report on Thursday, August 24th. TheStreet downgraded MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. BidaskClub downgraded MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. B. Riley reiterated a “buy” rating and issued a $20.00 price objective on shares of MarineMax in a research report on Friday, July 21st. Finally, Zacks Investment Research downgraded MarineMax from a “hold” rating to a “sell” rating in a research report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $22.86.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bogle Investment Management L P DE acquired a new position in MarineMax during the first quarter worth $212,000. Coe Capital Management LLC increased its position in MarineMax by 11.3% in the first quarter. Coe Capital Management LLC now owns 32,595 shares of the specialty retailer’s stock worth $706,000 after buying an additional 3,310 shares in the last quarter. 1060 Capital LLC acquired a new position in MarineMax during the first quarter worth $3,580,000. Bank of New York Mellon Corp increased its position in MarineMax by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 337,535 shares of the specialty retailer’s stock worth $7,308,000 after buying an additional 11,226 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its position in MarineMax by 11.0% in the first quarter. OppenheimerFunds Inc. now owns 32,966 shares of the specialty retailer’s stock worth $713,000 after buying an additional 3,265 shares in the last quarter. Institutional investors and hedge funds own 90.57% of the company’s stock.
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.
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