Legal & General Group Plc increased its stake in MarineMax, Inc. (NYSE:HZO) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,772 shares of the specialty retailer’s stock after buying an additional 105 shares during the period. Legal & General Group Plc owned about 0.17% of MarineMax worth $882,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Macquarie Group Ltd. raised 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. Eagle Asset Management Inc. raised its stake in shares of 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 last quarter. 1060 Capital LLC bought a new stake in shares of MarineMax during the first quarter valued at approximately $3,580,000. American Century Companies Inc. raised its stake in shares of 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 last quarter. Finally, Oxford Asset Management raised its stake in shares of MarineMax by 69.6% in the first quarter. Oxford Asset Management now owns 139,758 shares of the specialty retailer’s stock valued at $3,026,000 after buying an additional 57,353 shares during the last quarter. 91.57% of the stock is owned by institutional investors.
Shares of MarineMax, Inc. (NYSE HZO) traded down 1.30% during midday trading on Wednesday, reaching $15.20. 376,345 shares of the company’s stock traded hands. MarineMax, Inc. has a 52 week low of $13.80 and a 52 week high of $23.65. The company has a market capitalization of $369.00 million, a PE ratio of 15.20 and a beta of 1.00. The stock’s 50 day moving average is $17.98 and its 200-day moving average is $19.96.
MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by $0.11. MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The firm had revenue of $329.80 million during the quarter, compared to analysts’ expectations of $383.01 million. During the same quarter in the prior year, the business earned $0.57 EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, analysts forecast that MarineMax, Inc. will post $1.00 earnings per share for the current fiscal year.
MarineMax declared that its Board of Directors has authorized a share repurchase plan on Wednesday, August 2nd that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
HZO has been the subject of several recent analyst reports. Zacks Investment Research raised shares of MarineMax from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Tuesday, April 18th. Citigroup Inc. reissued a “buy” rating and issued a $25.00 price target (down previously from $26.00) on shares of MarineMax in a report on Monday, May 15th. TheStreet lowered shares of MarineMax from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. BidaskClub lowered shares of MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, B. Riley reaffirmed a “buy” rating and set a $20.00 target price on shares of MarineMax in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $23.33.
MarineMax Company Profile
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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