MarineMax (NYSE:HZO) Shares Down 5.8% – Here’s What Happened

Shares of MarineMax, Inc. (NYSE:HZO) traded down 5.8% during trading on Tuesday . The company traded as low as $22.86 and last traded at $23.05. 223,274 shares were traded during mid-day trading, a decline of 17% from the average session volume of 268,160 shares. The stock had previously closed at $24.48.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HZO. DA Davidson reduced their target price on shares of MarineMax from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. B. Riley upgraded MarineMax to a “strong-buy” rating in a report on Wednesday, February 12th. Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of MarineMax in a research report on Friday, January 24th. Finally, StockNews.com raised MarineMax from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $41.50.

MarineMax Stock Down 4.9 %

The company has a market capitalization of $528.39 million, a price-to-earnings ratio of 9.78 and a beta of 1.91. The firm’s 50 day moving average price is $28.37 and its two-hundred day moving average price is $30.42. The company has a current ratio of 1.19, a quick ratio of 0.24 and a debt-to-equity ratio of 0.35.

MarineMax (NYSE:HZO) last released its quarterly earnings data on Thursday, January 23rd. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.31. MarineMax had a return on equity of 4.96% and a net margin of 2.33%. Sell-side analysts anticipate that MarineMax, Inc. will post 2.41 earnings per share for the current fiscal year.

Insider Buying and Selling at MarineMax

In other news, Director Clint Moore sold 4,100 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $30.63, for a total transaction of $125,583.00. Following the transaction, the director now owns 23,560 shares in the company, valued at approximately $721,642.80. This trade represents a 14.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Anthony E. Jr. Cassella sold 4,000 shares of MarineMax stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $31.06, for a total value of $124,240.00. Following the sale, the chief accounting officer now directly owns 11,451 shares of the company’s stock, valued at approximately $355,668.06. The trade was a 25.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC grew its stake in shares of MarineMax by 43.8% in the fourth quarter. Squarepoint Ops LLC now owns 117,193 shares of the specialty retailer’s stock valued at $3,393,000 after acquiring an additional 35,697 shares in the last quarter. Two Sigma Investments LP boosted its holdings in MarineMax by 46.5% in the 4th quarter. Two Sigma Investments LP now owns 16,300 shares of the specialty retailer’s stock valued at $472,000 after purchasing an additional 5,177 shares during the period. Sherbrooke Park Advisers LLC grew its position in shares of MarineMax by 105.8% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 13,376 shares of the specialty retailer’s stock worth $387,000 after purchasing an additional 6,878 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of MarineMax by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,375 shares of the specialty retailer’s stock worth $358,000 after purchasing an additional 532 shares during the period. Finally, Deutsche Bank AG raised its position in shares of MarineMax by 63.4% in the fourth quarter. Deutsche Bank AG now owns 18,641 shares of the specialty retailer’s stock valued at $540,000 after buying an additional 7,232 shares in the last quarter. Institutional investors own 92.85% of the company’s stock.

MarineMax Company 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.