Short Interest in MarineMax, Inc. (NYSE:HZO) Drops By 13.2%

MarineMax, Inc. (NYSE:HZO) was the recipient of a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 3,073,482 shares, a decrease of 13.2% from the February 12th total of 3,540,733 shares. Currently, 14.4% of the company’s stock are short sold. Based on an average daily trading volume, of 540,002 shares, the days-to-cover ratio is presently 5.7 days. Based on an average daily trading volume, of 540,002 shares, the days-to-cover ratio is presently 5.7 days. Currently, 14.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Loop Capital assumed coverage on MarineMax in a research report on Monday, December 22nd. They set a “buy” rating and a $29.00 price objective for the company. B. Riley Financial restated a “buy” rating and set a $29.00 target price (up from $27.00) on shares of MarineMax in a research note on Friday, January 30th. Zacks Research raised MarineMax from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. National Bank Financial set a $35.00 price target on shares of MarineMax in a research note on Friday, January 30th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of MarineMax in a research report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.80.

MarineMax Stock Up 3.3%

Shares of HZO stock traded up $0.83 on Tuesday, hitting $26.26. The stock had a trading volume of 121,052 shares, compared to its average volume of 457,535. MarineMax has a 52-week low of $16.85 and a 52-week high of $32.00. The stock’s 50 day moving average is $28.32 and its 200-day moving average is $26.16. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.29 and a current ratio of 1.19. The firm has a market capitalization of $578.51 million, a price-to-earnings ratio of -9.81 and a beta of 1.66.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, January 29th. The specialty retailer reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.09). MarineMax had a negative net margin of 2.46% and a positive return on equity of 1.13%. The company had revenue of $505.18 million during the quarter, compared to the consensus estimate of $481.67 million. During the same quarter last year, the business earned $0.17 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts expect that MarineMax will post 2.41 earnings per share for the current year.

MarineMax declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 4th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 15.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On MarineMax

Several large investors have recently made changes to their positions in the company. Divisadero Street Capital Management LP acquired a new position in shares of MarineMax during the 3rd quarter worth $16,620,000. Boothbay Fund Management LLC bought a new position in MarineMax during the third quarter valued at about $17,372,000. Permanent Capital Management LP bought a new stake in shares of MarineMax during the 3rd quarter worth about $1,072,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of MarineMax during the 2nd quarter valued at about $392,000. Finally, Portolan Capital Management LLC raised its stake in shares of MarineMax by 27.5% in the 3rd quarter. Portolan Capital Management LLC now owns 392,713 shares of the specialty retailer’s stock valued at $9,947,000 after acquiring an additional 84,725 shares in the last quarter. Institutional investors own 92.85% of the company’s stock.

MarineMax Company Profile

MarineMax, Inc is a publicly traded company on the New York Stock Exchange under the ticker HZO and is one of the largest recreational boat and yacht retailers in the United States. The company markets new and used motor yachts, sailing yachts, sport boats and personal watercraft, acting as an authorized dealer for leading manufacturers. In addition to boat sales, MarineMax provides service and maintenance, parts and accessory sales, training and education, and marina operations.

Operating through a network of sales centers, service facilities and marinas, MarineMax serves coastal and inland markets across the continental U.S.