Great West Life Assurance Co. Can continued to hold its position in MarineMax, Inc. (NYSE:HZO) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,134 shares of the specialty retailer’s stock at the end of the second quarter. Great West Life Assurance Co. Can owned 0.15% of MarineMax worth $705,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in HZO. Thomson Horstmann & Bryant Inc. purchased a new position in shares of MarineMax in the 2nd quarter worth about $6,165,000. 1060 Capital LLC purchased a new position in shares of MarineMax in the 1st quarter worth about $3,580,000. Vanguard Group Inc. grew its stake in shares of MarineMax by 7.8% in the first quarter. Vanguard Group Inc. now owns 1,295,884 shares of the specialty retailer’s stock valued at $28,055,000 after buying an additional 93,220 shares in the last quarter. Driehaus Capital Management LLC grew its stake in shares of MarineMax by 33.9% in the first quarter. Driehaus Capital Management LLC now owns 300,639 shares of the specialty retailer’s stock valued at $6,509,000 after buying an additional 76,070 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of MarineMax by 12.6% in the first quarter. American Century Companies Inc. now owns 656,673 shares of the specialty retailer’s stock valued at $14,217,000 after buying an additional 73,565 shares in the last quarter. Institutional investors own 90.57% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. B. Riley reiterated a “buy” rating and issued a $20.00 target price on shares of MarineMax in a research note on Friday, July 21st. Ifs Securities reiterated a “strong-buy” rating and issued a $20.00 target price on shares of MarineMax in a research note on Thursday, August 24th. TheStreet lowered MarineMax from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Zacks Investment Research lowered MarineMax from a “hold” rating to a “sell” rating in a research note on Friday, June 30th. Finally, BidaskClub lowered MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. MarineMax presently has an average rating of “Buy” and an average price target of $22.86.
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MarineMax, Inc. (HZO) opened at 15.75 on Friday. The stock has a 50 day moving average price of $15.54 and a 200 day moving average price of $18.83. The firm has a market cap of $382.35 million, a price-to-earnings ratio of 15.75 and a beta of 1.00. MarineMax, Inc. has a 12 month low of $13.80 and a 12 month high of $23.65.
MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.11). MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The firm had revenue of $329.80 million for the quarter, compared to the consensus estimate of $383.01 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The company’s revenue was down 4.6% on a year-over-year basis. On average, equities analysts expect that MarineMax, Inc. will post $0.98 earnings per share for the current fiscal year.
MarineMax announced that its board has authorized a stock repurchase plan on Wednesday, August 2nd that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In related news, Director Dean S. Woodman sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $16.00, for a total transaction of $40,000.00. Following the transaction, the director now directly owns 14,693 shares in the company, valued at $235,088. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dean S. Woodman sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $15.00, for a total value of $45,000.00. Following the completion of the sale, the director now owns 15,193 shares in the company, valued at $227,895. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.
MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.
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