MarineMax Inc (NYSE:HZO)’s share price dropped 6.8% on Friday following insider selling activity. The company traded as low as $27.53 and last traded at $27.74, approximately 710,904 shares traded hands during mid-day trading. An increase of 127% from the average daily volume of 313,199 shares. The stock had previously closed at $29.75.

Specifically, Director Evelyn V. Follit sold 5,000 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $29.76, for a total value of $148,800.00. Following the completion of the transaction, the director now directly owns 26,390 shares of the company’s stock, valued at $785,366.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman William H. Mcgill, Jr. sold 71,475 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $23.17, for a total value of $1,656,075.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,611 shares of company stock valued at $4,149,755. Insiders own 4.40% of the company’s stock.

HZO has been the subject of several analyst reports. ValuEngine upgraded MarineMax from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 23rd. B. Riley reiterated a “buy” rating and issued a $28.00 target price on shares of MarineMax in a research note on Wednesday, July 1st. Craig Hallum upped their target price on MarineMax from $16.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Northcoast Research reaffirmed a “buy” rating on shares of MarineMax in a research report on Wednesday, July 22nd. Finally, Zacks Investment Research raised MarineMax from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Wednesday, June 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $24.30.

The stock has a market cap of $600.02 million, a PE ratio of 10.96 and a beta of 1.85. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.77 and a quick ratio of 0.62. The business has a fifty day moving average of $23.56 and a 200 day moving average of $17.74.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, July 23rd. The specialty retailer reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.86. The firm had revenue of $498.30 million during the quarter, compared to the consensus estimate of $414.69 million. MarineMax had a return on equity of 14.68% and a net margin of 3.93%. MarineMax’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 earnings per share. On average, equities research analysts expect that MarineMax Inc will post 2.54 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in HZO. Credit Suisse AG raised its stake in MarineMax by 5.3% during the fourth quarter. Credit Suisse AG now owns 32,575 shares of the specialty retailer’s stock valued at $543,000 after buying an additional 1,641 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in MarineMax during the fourth quarter valued at approximately $751,000. UBS Group AG raised its stake in MarineMax by 4,285.4% during the fourth quarter. UBS Group AG now owns 23,111 shares of the specialty retailer’s stock valued at $386,000 after buying an additional 22,584 shares in the last quarter. Guggenheim Capital LLC raised its stake in MarineMax by 4.2% during the fourth quarter. Guggenheim Capital LLC now owns 16,315 shares of the specialty retailer’s stock valued at $272,000 after buying an additional 655 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in MarineMax by 219.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 168,584 shares of the specialty retailer’s stock valued at $2,813,000 after buying an additional 115,815 shares in the last quarter. Hedge funds and other institutional investors own 83.16% of the company’s stock.

About MarineMax (NYSE:HZO)

MarineMax, Inc operates as a recreational boat and yacht retailer in the United States. The company sells new and used recreational boats, including pleasure boats, such as sport boats, sport cruisers, sport yachts, and other yachts; fishing boats; motor and convertible yachts; pontoon boats; fishing boats; ski boats; and jet boats.

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