Frontier Capital Management Co. LLC decreased its stake in shares of MarineMax, Inc. (NYSE:HZO) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 738,406 shares of the specialty retailer’s stock after selling 6,843 shares during the period. Frontier Capital Management Co. LLC owned 3.04% of MarineMax worth $14,436,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in HZO. BNP Paribas Arbitrage SA raised its position in MarineMax by 12.0% in the first quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the specialty retailer’s stock valued at $101,000 after buying an additional 498 shares during the period. Globeflex Capital L P bought a new position in MarineMax during the first quarter valued at about $116,000. Mason Street Advisors LLC raised its position in MarineMax by 5.2% in the first quarter. Mason Street Advisors LLC now owns 5,676 shares of the specialty retailer’s stock valued at $123,000 after buying an additional 282 shares during the period. Acrospire Investment Management LLC bought a new position in MarineMax during the first quarter valued at about $133,000. Finally, Municipal Employees Retirement System of Michigan raised its position in MarineMax by 2.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,880 shares of the specialty retailer’s stock valued at $192,000 after buying an additional 240 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.
MarineMax, Inc. (NYSE:HZO) opened at 15.55 on Wednesday. MarineMax, Inc. has a 1-year low of $13.80 and a 1-year high of $23.65. The firm has a 50-day moving average price of $16.65 and a 200 day moving average price of $19.52. The stock has a market cap of $377.49 million, a price-to-earnings ratio of 15.55 and a beta of 1.00.
MarineMax (NYSE:HZO) last released its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by $0.11. MarineMax had a return on equity of 7.53% and a net margin of 2.45%. The business had revenue of $329.80 million during the quarter, compared to analyst estimates of $383.01 million. During the same quarter last year, the firm posted $0.57 EPS. The company’s revenue was down 4.6% compared to the same quarter last year. On average, equities research analysts anticipate that MarineMax, Inc. will post $0.99 EPS for the current fiscal year.
MarineMax declared that its board has approved a stock buyback program on Wednesday, August 2nd that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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Several research firms have issued reports on HZO. B. Riley reiterated a “buy” rating and issued a $26.00 target price on shares of MarineMax in a research note on Wednesday, May 3rd. BidaskClub lowered MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered MarineMax from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. TheStreet lowered MarineMax from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $25.00 target price (down previously from $26.00) on shares of MarineMax in a research note on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. MarineMax currently has an average 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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