MarineMax, Inc. $HZO Shares Acquired by Broad Bay Capital Management LP

Broad Bay Capital Management LP boosted its stake in shares of MarineMax, Inc. (NYSE:HZO) by 22.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 843,756 shares of the specialty retailer’s stock after purchasing an additional 155,750 shares during the quarter. MarineMax accounts for about 2.7% of Broad Bay Capital Management LP’s holdings, making the stock its 17th biggest position. Broad Bay Capital Management LP’s holdings in MarineMax were worth $18,141,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. State of Wyoming acquired a new stake in MarineMax during the 1st quarter worth about $41,000. Jump Financial LLC raised its holdings in MarineMax by 23.0% during the first quarter. Jump Financial LLC now owns 13,040 shares of the specialty retailer’s stock valued at $280,000 after buying an additional 2,440 shares in the last quarter. American Century Companies Inc. boosted its position in MarineMax by 2.7% during the first quarter. American Century Companies Inc. now owns 2,086,340 shares of the specialty retailer’s stock worth $44,856,000 after purchasing an additional 53,872 shares during the period. Public Sector Pension Investment Board grew its stake in MarineMax by 28.6% in the 1st quarter. Public Sector Pension Investment Board now owns 63,338 shares of the specialty retailer’s stock valued at $1,362,000 after buying an additional 14,103 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of MarineMax in the first quarter valued at about $1,856,000. Institutional investors and hedge funds own 92.85% of the company’s stock.

Analyst Upgrades and Downgrades

HZO has been the topic of a number of research reports. Wall Street Zen lowered shares of MarineMax from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Citigroup reaffirmed a “buy” rating and issued a $32.00 price target (up previously from $29.00) on shares of MarineMax in a research note on Monday, June 16th. Finally, B. Riley restated a “buy” rating on shares of MarineMax in a research report on Friday, July 25th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $33.25.

MarineMax Stock Down 2.6%

Shares of NYSE HZO opened at $27.21 on Friday. The stock has a market cap of $584.01 million, a P/E ratio of -20.31 and a beta of 1.54. MarineMax, Inc. has a 52-week low of $16.85 and a 52-week high of $37.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.29 and a current ratio of 1.21. The firm has a 50 day moving average price of $25.34 and a 200 day moving average price of $23.76.

MarineMax (NYSE:HZO) last posted its earnings results on Thursday, July 24th. The specialty retailer reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.67). MarineMax had a negative net margin of 1.15% and a positive return on equity of 2.63%. The business had revenue of $657.16 million during the quarter, compared to analyst estimates of $737.82 million. During the same period in the previous year, the firm posted $1.51 earnings per share. The firm’s revenue was down 13.3% on a year-over-year basis. MarineMax has set its FY 2025 guidance at 0.450-0.950 EPS. Analysts expect that MarineMax, Inc. will post 2.41 EPS for the current year.

Insiders Place Their Bets

In other MarineMax news, CEO W Brett Mcgill sold 60,000 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $27.53, for a total transaction of $1,651,800.00. Following the completion of the transaction, the chief executive officer owned 173,038 shares in the company, valued at approximately $4,763,736.14. This represents a 25.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.00% of the company’s stock.

MarineMax Profile

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates in two segments, Retail Operations and Product Manufacturing. The company sells new and used recreational boats, including pleasure and fishing boats, mega-yachts, yachts, sport cruisers, motor yachts, e-power yachts, pontoon boats, ski boats, jet boats, and other recreational boats.