MarineMax, Inc. $HZO Stock: Gagnon Securities LLC Reduces Stake

Gagnon Securities LLC lessened its position in shares of MarineMax, Inc. (NYSE:HZO) by 51.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,184 shares of the specialty retailer’s stock after selling 108,296 shares during the quarter. Gagnon Securities LLC owned about 0.47% of MarineMax worth $5,397,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HZO. Maryland State Retirement & Pension System bought a new stake in MarineMax during the 3rd quarter worth about $230,000. New York Life Investment Management LLC bought a new stake in shares of MarineMax during the third quarter worth approximately $2,653,000. ProShare Advisors LLC acquired a new position in MarineMax in the third quarter valued at approximately $511,000. Vise Technologies Inc. acquired a new position in MarineMax in the third quarter valued at approximately $367,000. Finally, Yousif Capital Management LLC acquired a new position in MarineMax in the third quarter valued at approximately $260,000. Institutional investors own 92.85% of the company’s stock.

Wall Street Analyst Weigh In

HZO has been the subject of a number of analyst reports. Benchmark lowered shares of MarineMax from a “buy” rating to a “hold” rating in a report on Monday, August 10th. Truist Financial downgraded MarineMax from a “buy” rating to a “hold” rating and increased their price target for the company from $39.00 to $53.00 in a research note on Wednesday, August 12th. Northcoast Research lowered MarineMax from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 12th. Weiss Ratings raised MarineMax from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Loop Capital downgraded MarineMax from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a report on Tuesday, August 11th. Eight investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $44.67.

MarineMax Price Performance

HZO stock opened at $52.78 on Thursday. The stock has a 50-day moving average price of $52.44 and a two-hundred day moving average price of $38.34. The stock has a market cap of $1.17 billion, a PE ratio of 94.23 and a beta of 1.72. The company has a current ratio of 1.19, a quick ratio of 0.29 and a debt-to-equity ratio of 0.34. MarineMax, Inc. has a 1 year low of $21.42 and a 1 year high of $52.89.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Wednesday, November 4th. The specialty retailer reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.12). The firm had revenue of $520.14 million during the quarter, compared to the consensus estimate of $541.32 million. MarineMax had a negative net margin of 0.38% and a positive return on equity of 1.41%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) earnings per share. Equities analysts forecast that MarineMax, Inc. will post 1.41 EPS for the current fiscal year.

MarineMax Company Profile

MarineMax, Inc. is a recreational boating and yacht retailer serving boaters in the United States and internationally. The company sells new and pre-owned boats and yachts, along with marine engines, parts and accessories. Its services include boat maintenance and repair, financing and insurance, yacht brokerage, and other boating-related support. MarineMax also operates marinas and offers services such as yacht management and chartering through its businesses. Founded in 1998, MarineMax has grown through acquisitions and operates retail locations across the United States.