MarineMax, Inc. $HZO Shares Purchased by Portolan Capital Management LLC

Portolan Capital Management LLC boosted its stake in shares of MarineMax, Inc. (NYSE:HZO) by 27.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 392,713 shares of the specialty retailer’s stock after buying an additional 84,725 shares during the quarter. Portolan Capital Management LLC’s holdings in MarineMax were worth $9,947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in HZO. Invesco Ltd. lifted its position in shares of MarineMax by 115.6% during the 2nd quarter. Invesco Ltd. now owns 716,078 shares of the specialty retailer’s stock valued at $18,002,000 after acquiring an additional 383,926 shares during the period. American Century Companies Inc. grew its holdings in shares of MarineMax by 16.6% in the 2nd quarter. American Century Companies Inc. now owns 2,432,173 shares of the specialty retailer’s stock worth $61,145,000 after acquiring an additional 345,833 shares during the period. Gagnon Securities LLC purchased a new position in MarineMax in the 3rd quarter valued at approximately $6,620,000. CenterBook Partners LP increased its stake in MarineMax by 183.8% in the 3rd quarter. CenterBook Partners LP now owns 304,718 shares of the specialty retailer’s stock valued at $7,719,000 after purchasing an additional 197,336 shares in the last quarter. Finally, Gagnon Advisors LLC acquired a new position in MarineMax during the third quarter worth $3,846,000. 92.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on HZO shares. National Bank Financial set a $35.00 target price on MarineMax in a research report on Friday, January 30th. Zacks Research upgraded MarineMax from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Citigroup reaffirmed a “buy” rating on shares of MarineMax in a research note on Wednesday, January 14th. Weiss Ratings reissued a “sell (d)” rating on shares of MarineMax in a research note on Thursday, January 22nd. Finally, Loop Capital started coverage on shares of MarineMax in a report on Monday, December 22nd. They set a “buy” rating and a $29.00 target price for the company. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.80.

MarineMax Stock Performance

NYSE HZO opened at $25.40 on Friday. The company has a quick ratio of 0.29, a current ratio of 1.19 and a debt-to-equity ratio of 0.37. MarineMax, Inc. has a fifty-two week low of $16.85 and a fifty-two week high of $32.00. The business has a fifty day moving average of $28.30 and a 200-day moving average of $26.19. The stock has a market cap of $559.65 million, a price-to-earnings ratio of -9.48 and a beta of 1.66.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, January 29th. The specialty retailer reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). The company had revenue of $505.18 million for the quarter, compared to analyst estimates of $481.67 million. MarineMax had a negative net margin of 2.46% and a positive return on equity of 1.13%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS. As a group, analysts predict that MarineMax, Inc. will post 2.41 earnings per share for the current fiscal year.

MarineMax declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 4th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 15.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

MarineMax Company Profile

MarineMax, Inc is a publicly traded company on the New York Stock Exchange under the ticker HZO and is one of the largest recreational boat and yacht retailers in the United States. The company markets new and used motor yachts, sailing yachts, sport boats and personal watercraft, acting as an authorized dealer for leading manufacturers. In addition to boat sales, MarineMax provides service and maintenance, parts and accessory sales, training and education, and marina operations.

Operating through a network of sales centers, service facilities and marinas, MarineMax serves coastal and inland markets across the continental U.S.