MarineMax, Inc. (HZO) Shares Sold by Rice Hall James & Associates LLC
Rice Hall James & Associates LLC lowered its position in shares of MarineMax, Inc. (NYSE:HZO) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,266 shares of the specialty retailer’s stock after selling 6,645 shares during the period. Rice Hall James & Associates LLC’s holdings in MarineMax were worth $2,156,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of HZO. Renaissance Technologies LLC raised its position in shares of MarineMax by 32.4% in the fourth quarter. Renaissance Technologies LLC now owns 85,400 shares of the specialty retailer’s stock worth $1,652,000 after buying an additional 20,900 shares during the last quarter. Teachers Advisors LLC raised its position in shares of MarineMax by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 44,896 shares of the specialty retailer’s stock worth $869,000 after buying an additional 1,498 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of MarineMax by 3,099.0% in the fourth quarter. Macquarie Group Ltd. now owns 568,183 shares of the specialty retailer’s stock worth $10,994,000 after buying an additional 550,422 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of MarineMax during the first quarter worth $214,000. Finally, NBW Capital LLC raised its position in shares of MarineMax by 6.5% in the first quarter. NBW Capital LLC now owns 160,128 shares of the specialty retailer’s stock worth $3,467,000 after buying an additional 9,759 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.
MarineMax, Inc. (HZO) opened at 15.95 on Tuesday. MarineMax, Inc. has a 52-week low of $13.80 and a 52-week high of $23.65. The company has a 50-day moving average price of $17.20 and a 200 day moving average price of $19.71. The stock has a market cap of $387.20 million, a price-to-earnings ratio of 15.95 and a beta of 1.00.
MarineMax (NYSE:HZO) last released its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.11. The business had revenue of $329.80 million during the quarter, compared to analyst estimates of $383.01 million. MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 EPS. On average, analysts expect that MarineMax, Inc. will post $1.00 earnings per share for the current year.
MarineMax announced that its board has approved a share buyback plan on Wednesday, August 2nd that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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HZO has been the subject of a number of research analyst reports. Zacks Investment Research upgraded MarineMax from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, April 18th. B. Riley restated a “buy” rating and set a $26.00 price objective on shares of MarineMax in a research report on Friday, April 28th. Citigroup Inc. restated a “buy” rating and set a $25.00 price objective (down previously from $26.00) on shares of MarineMax in a research report on Monday, May 15th. BidaskClub lowered MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, TheStreet lowered MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $23.33.
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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