Short Interest in MarineMax, Inc. (NYSE:HZO) Decreases By 10.5%

MarineMax, Inc. (NYSE:HZO) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 1,880,000 shares, a decrease of 10.5% from the July 15th total of 2,100,000 shares. Currently, 9.6% of the company’s shares are sold short. Based on an average daily trading volume, of 347,600 shares, the short-interest ratio is presently 5.4 days.

MarineMax Stock Up 1.9 %

Shares of NYSE:HZO traded up $0.57 during midday trading on Friday, hitting $30.87. 122,721 shares of the company’s stock were exchanged, compared to its average volume of 334,732. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.20 and a quick ratio of 0.36. MarineMax has a 12 month low of $22.51 and a 12 month high of $39.85. The company has a market cap of $688.43 million, a PE ratio of 11.18 and a beta of 1.84. The stock has a 50 day moving average price of $32.71 and a 200-day moving average price of $30.72.

MarineMax (NYSE:HZO) last issued its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $1.51 EPS for the quarter, topping the consensus estimate of $1.35 by $0.16. The firm had revenue of $757.72 million during the quarter, compared to the consensus estimate of $720.30 million. MarineMax had a return on equity of 6.26% and a net margin of 2.00%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.07 earnings per share. On average, sell-side analysts anticipate that MarineMax will post 2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On MarineMax

A number of hedge funds have recently bought and sold shares of the company. Shellback Capital LP lifted its position in shares of MarineMax by 44.1% during the second quarter. Shellback Capital LP now owns 295,633 shares of the specialty retailer’s stock valued at $9,570,000 after purchasing an additional 90,476 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in MarineMax by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,251 shares of the specialty retailer’s stock valued at $267,000 after buying an additional 408 shares during the last quarter. Millennium Management LLC lifted its position in shares of MarineMax by 22.7% during the 2nd quarter. Millennium Management LLC now owns 401,978 shares of the specialty retailer’s stock worth $13,012,000 after buying an additional 74,451 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of MarineMax by 43.4% in the 2nd quarter. AQR Capital Management LLC now owns 16,202 shares of the specialty retailer’s stock worth $524,000 after buying an additional 4,905 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of MarineMax in the second quarter valued at approximately $669,000. 92.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of MarineMax from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. B. Riley dropped their price objective on shares of MarineMax from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. DA Davidson raised their target price on MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Truist Financial boosted their target price on MarineMax from $35.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Stifel Nicolaus increased their price target on MarineMax from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.75.

About MarineMax

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.