Royce & Associates LP Has $11.41 Million Position in West Marine, Inc. (WMAR)
Royce & Associates LP reduced its position in shares of West Marine, Inc. (NASDAQ:WMAR) by 25.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 887,750 shares of the specialty retailer’s stock after selling 308,687 shares during the period. Royce & Associates LP owned approximately 3.53% of West Marine worth $11,408,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in WMAR. AXA raised its stake in shares of West Marine by 30.1% in the first quarter. AXA now owns 96,788 shares of the specialty retailer’s stock worth $923,000 after buying an additional 22,415 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of West Marine during the second quarter worth about $1,646,000. Oxford Asset Management purchased a new stake in shares of West Marine during the first quarter worth about $539,000. B. Riley Financial Inc. purchased a new stake in shares of West Marine during the first quarter worth about $544,000. Finally, Hancock Holding Co. purchased a new stake in shares of West Marine during the first quarter worth about $186,000. 57.93% of the stock is owned by hedge funds and other institutional investors.
West Marine, Inc. (NASDAQ WMAR) opened at 12.97 on Friday. The firm’s 50-day moving average is $12.90 and its 200 day moving average is $10.76. West Marine, Inc. has a 52 week low of $7.77 and a 52 week high of $13.01. The stock has a market cap of $327.87 million, a price-to-earnings ratio of 41.04 and a beta of 1.31.
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WMAR has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of West Marine from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. BidaskClub lowered shares of West Marine from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Forward View raised shares of West Marine from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, B. Riley lowered shares of West Marine to a “neutral” rating and set a $12.97 price objective for the company. in a report on Sunday, July 16th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.99.
About West Marine
West Marine, Inc is a waterlife outfitter for cruisers, sailors, anglers and paddlesports enthusiasts. The Company offers a selection of core boating and water recreation products, primarily serving the needs of boat owners and professionals providing services to them. It services its customers through physical stores and two e-commerce Websites.
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