Algert Global LLC Boosts Stake in MarineMax, Inc. (HZO)
Algert Global LLC boosted its stake in MarineMax, Inc. (NYSE:HZO) by 3.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,767 shares of the specialty retailer’s stock after buying an additional 2,010 shares during the period. Algert Global LLC’s holdings in MarineMax were worth $1,110,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in shares of MarineMax by 3.4% in the fourth quarter. State Street Corp now owns 624,799 shares of the specialty retailer’s stock valued at $12,094,000 after buying an additional 20,698 shares during the last quarter. Renaissance Technologies LLC boosted its stake 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 valued at $1,652,000 after buying an additional 20,900 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of MarineMax by 8.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,380 shares of the specialty retailer’s stock valued at $259,000 after buying an additional 1,060 shares during the last quarter. Teachers Advisors LLC boosted its stake 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 valued at $869,000 after buying an additional 1,498 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake 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 valued at $10,994,000 after buying an additional 550,422 shares during the last quarter. Hedge funds and other institutional investors own 91.57% of the company’s stock.
Shares of MarineMax, Inc. (HZO) opened at 15.20 on Thursday. The company’s 50 day moving average price is $17.45 and its 200 day moving average price is $19.81. MarineMax, Inc. has a 12 month low of $13.80 and a 12 month high of $23.65. The stock has a market capitalization of $369.00 million, a PE ratio of 15.20 and a beta of 1.00.
MarineMax (NYSE:HZO) last issued its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by $0.11. The firm had revenue of $329.80 million for the quarter, compared to analyst estimates of $383.01 million. MarineMax had a return on equity of 7.53% and a net margin of 2.45%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 earnings per share. Equities analysts anticipate that MarineMax, Inc. will post $1.00 earnings per share for the current fiscal year.
MarineMax declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 2nd that permits the company to buyback 2,000,000 shares. This buyback authorization permits the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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Several analysts recently commented on HZO shares. Zacks Investment Research upgraded MarineMax from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Tuesday, April 18th. B. Riley reiterated a “buy” rating and set a $26.00 price target on shares of MarineMax in a research report on Friday, April 28th. Citigroup Inc. reiterated a “buy” rating and set a $25.00 price target (down from $26.00) on shares of MarineMax in a research report on Monday, May 15th. BidaskClub cut MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, TheStreet cut 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 given a hold rating and four have assigned a buy rating to the stock. MarineMax has an average rating of “Hold” and a consensus price target 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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