MarineMax, Inc. (NYSE:HZO) Short Interest Update

MarineMax, Inc. (NYSE:HZO) was the recipient of a large decrease in short interest in 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. Based on an average daily trading volume, of 540,002 shares, the short-interest ratio is currently 5.7 days. Currently, 14.4% of the company’s stock are short sold. Currently, 14.4% of the company’s stock are short sold. Based on an average daily trading volume, of 540,002 shares, the short-interest ratio is currently 5.7 days.

Institutional Trading of MarineMax

A number of hedge funds and other institutional investors have recently made changes to their positions in HZO. Divisadero Street Capital Management LP acquired a new stake in shares of MarineMax in the 3rd quarter valued at about $16,620,000. Boothbay Fund Management LLC acquired a new position in MarineMax during the third quarter worth approximately $17,372,000. Campbell & CO Investment Adviser LLC purchased a new stake in MarineMax in the second quarter valued at approximately $392,000. Permanent Capital Management LP purchased a new stake in MarineMax in the third quarter valued at approximately $1,072,000. Finally, Portolan Capital Management LLC boosted its holdings in shares of MarineMax by 27.5% in the third 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 during the period. Institutional investors and hedge funds own 92.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HZO. B. Riley Financial reissued a “buy” rating and issued a $29.00 price target (up from $27.00) on shares of MarineMax in a research report on Friday, January 30th. Citigroup reiterated a “buy” rating on shares of MarineMax in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of MarineMax in a report on Thursday, January 22nd. Loop Capital initiated coverage on MarineMax in a research note on Monday, December 22nd. They set a “buy” rating and a $29.00 target price for the company. Finally, Benchmark restated a “buy” rating on shares of MarineMax in a report on Friday, January 30th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.80.

MarineMax Stock Performance

Shares of HZO opened at $25.59 on Thursday. The company has a market capitalization of $563.70 million, a price-to-earnings ratio of -9.55 and a beta of 1.66. MarineMax has a 52-week low of $16.85 and a 52-week high of $32.00. The company has a quick ratio of 0.29, a current ratio of 1.19 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average price of $28.30 and a 200 day moving average price of $26.15.

MarineMax (NYSE:HZO) last released its quarterly earnings data on Thursday, January 29th. The specialty retailer reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). MarineMax had a positive return on equity of 1.13% and a negative net margin of 2.46%.The company had revenue of $505.18 million for the quarter, compared to analyst estimates of $481.67 million. During the same period in the previous year, the business posted $0.17 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts predict that MarineMax will post 2.41 EPS for the current fiscal year.

MarineMax declared that its board has initiated a stock repurchase plan on Wednesday, March 4th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 15.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.