Vanguard Group Inc. increased its position in shares of MarineMax, Inc. (NYSE:HZO) by 4.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,349,327 shares of the specialty retailer’s stock after acquiring an additional 53,443 shares during the period. Vanguard Group Inc. owned about 5.14% of MarineMax worth $26,380,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its position in MarineMax by 58.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,348 shares of the specialty retailer’s stock worth $144,000 after acquiring an additional 2,699 shares during the last quarter. UBS Group AG grew its position in MarineMax by 175.7% during the 1st quarter. UBS Group AG now owns 9,697 shares of the specialty retailer’s stock worth $210,000 after acquiring an additional 6,180 shares during the last quarter. Arizona State Retirement System grew its position in MarineMax by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 12,722 shares of the specialty retailer’s stock worth $249,000 after acquiring an additional 100 shares during the last quarter. Thrivent Financial For Lutherans grew its position in MarineMax by 6.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 14,750 shares of the specialty retailer’s stock worth $288,000 after acquiring an additional 920 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in MarineMax by 15.1% during the 2nd quarter. Alliancebernstein L.P. now owns 16,800 shares of the specialty retailer’s stock worth $328,000 after acquiring an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 90.57% of the company’s stock.
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In other news, Director Dean S. Woodman sold 3,000 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $15.00, for a total value of $45,000.00. Following the transaction, the director now directly owns 15,193 shares of the company’s stock, valued at approximately $227,895. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hilliard M. Eure sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $16.00, for a total value of $40,000.00. Following the completion of the transaction, the director now directly owns 14,000 shares in the company, valued at $224,000. The disclosure for this sale can be found here. Insiders have sold a total of 55,500 shares of company stock worth $1,114,550 over the last ninety days. Company insiders own 5.00% of the company’s stock.
MarineMax, Inc. (HZO) opened at $20.30 on Monday. The company has a market capitalization of $481.83, a PE ratio of 20.10, a price-to-earnings-growth ratio of 0.58 and a beta of 0.99. MarineMax, Inc. has a twelve month low of $13.80 and a twelve month high of $23.65.
MarineMax (NYSE:HZO) last announced its earnings results on Tuesday, October 31st. The specialty retailer reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.11. The firm had revenue of $250.62 million for the quarter, compared to the consensus estimate of $231.96 million. MarineMax had a return on equity of 7.82% and a net margin of 2.24%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. equities research analysts predict that MarineMax, Inc. will post 1.16 EPS for the current year.
MarineMax declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 2nd that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of brokerages recently weighed in on HZO. B. Riley restated a “buy” rating and set a $20.00 price objective on shares of MarineMax in a research report on Friday, July 21st. Ifs Securities restated a “strong-buy” rating and set a $20.00 price objective on shares of MarineMax in a research report on Thursday, August 24th. TheStreet downgraded MarineMax from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. Forward View downgraded MarineMax from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, Craig Hallum set a $21.00 target price on MarineMax and gave the stock a “buy” rating in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. MarineMax currently has a consensus rating of “Buy” and a consensus price target of $21.67.
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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