656,154 Shares in MarineMax, Inc. $HZO Bought by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP acquired a new position in shares of MarineMax, Inc. (NYSE:HZO) in the third quarter, Holdings Channel.com reports. The firm acquired 656,154 shares of the specialty retailer’s stock, valued at approximately $16,620,000.

Several other institutional investors have also modified their holdings of HZO. Permanent Capital Management LP purchased a new stake in shares of MarineMax during the third quarter worth about $1,072,000. Campbell & CO Investment Adviser LLC acquired a new stake in MarineMax in the 2nd quarter worth about $392,000. Corient Private Wealth LLC acquired a new stake in MarineMax in the 2nd quarter worth about $2,777,000. Boothbay Fund Management LLC purchased a new stake in MarineMax during the 3rd quarter worth approximately $17,372,000. Finally, Portolan Capital Management LLC increased its stake in MarineMax by 27.5% during the 3rd quarter. Portolan Capital Management LLC now owns 392,713 shares of the specialty retailer’s stock worth $9,947,000 after buying an additional 84,725 shares in the last quarter. Institutional investors and hedge funds own 92.85% of the company’s stock.

MarineMax Price Performance

HZO stock opened at $25.40 on Monday. MarineMax, Inc. has a 1 year low of $16.85 and a 1 year high of $32.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.19 and a quick ratio of 0.29. The firm has a market capitalization of $559.65 million, a PE ratio of -9.48 and a beta of 1.66. The business has a 50 day simple moving average of $28.30 and a 200-day simple moving average of $26.17.

MarineMax (NYSE:HZO) last announced 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 analysts’ expectations of $481.67 million. MarineMax had a positive return on equity of 1.13% and a negative net margin of 2.46%.The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 EPS. Equities research analysts anticipate that MarineMax, Inc. will post 2.41 earnings per share for the current fiscal year.

MarineMax declared that its Board of Directors has authorized 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 buy up to 15.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HZO. Citigroup restated a “buy” rating on shares of MarineMax in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of MarineMax in a research report on Thursday, January 22nd. Wall Street Zen upgraded MarineMax from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Benchmark reaffirmed a “buy” rating on shares of MarineMax in a research note on Friday, January 30th. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $29.00 target price (up from $27.00) on shares of MarineMax in a report on Friday, January 30th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.80.

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.