California Public Employees Retirement System cut its stake in MarineMax, Inc. (NYSE:HZO) by 3.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,800 shares of the specialty retailer’s stock after selling 1,800 shares during the period. California Public Employees Retirement System’s holdings in MarineMax were worth $970,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Eagle Asset Management Inc. raised its stake in MarineMax by 14.1% in the first quarter. Eagle Asset Management Inc. now owns 3,184,400 shares of the specialty retailer’s stock valued at $68,942,000 after buying an additional 392,654 shares during the period. American Century Companies Inc. raised its stake in MarineMax by 12.6% in the first quarter. American Century Companies Inc. now owns 656,673 shares of the specialty retailer’s stock valued at $14,217,000 after buying an additional 73,565 shares during the period. Macquarie Group Ltd. raised its stake in 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 period. Hood River Capital Management LLC raised its stake in MarineMax by 3.4% in the first quarter. Hood River Capital Management LLC now owns 478,159 shares of the specialty retailer’s stock valued at $10,352,000 after buying an additional 15,788 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in MarineMax by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 337,535 shares of the specialty retailer’s stock valued at $7,308,000 after buying an additional 11,226 shares during the period. Hedge funds and other institutional investors own 91.57% of the company’s stock.

Shares of MarineMax, Inc. (HZO) traded up 3.00% on Friday, hitting $15.45. The stock had a trading volume of 310,839 shares. MarineMax, Inc. has a 52 week low of $13.80 and a 52 week high of $23.65. The stock’s 50-day moving average price is $17.27 and its 200 day moving average price is $19.75. The company has a market cap of $375.06 million, a PE ratio of 15.45 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 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.11. MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The business had revenue of $329.80 million during the quarter, compared to analyst estimates of $383.01 million. During the same period in the previous year, the business earned $0.57 earnings per share. The business’s quarterly revenue was down 4.6% on a year-over-year basis. On average, analysts predict that MarineMax, Inc. will post $1.00 EPS for the current year.

MarineMax announced that its board has initiated 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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HZO has been the subject of several analyst reports. B. Riley restated a “buy” rating and issued a $20.00 target price on shares of MarineMax in a report on Friday, July 21st. TheStreet lowered MarineMax from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. BidaskClub lowered MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Citigroup Inc. restated a “buy” rating and issued a $25.00 target price (down from $26.00) on shares of MarineMax in a report on Monday, May 15th. Finally, Zacks Investment Research upgraded MarineMax from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Tuesday, April 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.33.

About MarineMax

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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Institutional Ownership by Quarter for MarineMax (NYSE:HZO)

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