Acuitas Investments LLC Has $2.65 Million Stock Position in MarineMax, Inc. $HZO

Acuitas Investments LLC grew its position in MarineMax, Inc. (NYSE:HZO) by 25.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 105,281 shares of the specialty retailer’s stock after buying an additional 21,481 shares during the period. MarineMax makes up 2.1% of Acuitas Investments LLC’s portfolio, making the stock its 22nd largest position. Acuitas Investments LLC owned approximately 0.49% of MarineMax worth $2,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HZO. Interval Partners LP boosted its stake in MarineMax by 181.2% in the 1st quarter. Interval Partners LP now owns 241,139 shares of the specialty retailer’s stock worth $5,184,000 after purchasing an additional 155,382 shares during the period. Goldman Sachs Group Inc. boosted its stake in MarineMax by 69.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 348,664 shares of the specialty retailer’s stock worth $7,496,000 after purchasing an additional 142,775 shares during the period. Nuveen LLC acquired a new position in MarineMax in the 1st quarter worth $1,856,000. Principal Financial Group Inc. boosted its stake in MarineMax by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 99,611 shares of the specialty retailer’s stock worth $2,142,000 after purchasing an additional 3,107 shares during the period. Finally, Vanguard Group Inc. boosted its stake in MarineMax by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 1,532,153 shares of the specialty retailer’s stock worth $32,941,000 after purchasing an additional 37,154 shares during the period. Institutional investors and hedge funds own 92.85% of the company’s stock.

Insider Activity at MarineMax

In other news, CEO W Brett Mcgill sold 60,000 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $27.53, for a total value of $1,651,800.00. Following the completion of the sale, the chief executive officer directly owned 173,038 shares of the company’s stock, valued at approximately $4,763,736.14. This trade represents a 25.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.

MarineMax Stock Performance

NYSE HZO opened at $26.19 on Friday. The company has a 50-day simple moving average of $26.09 and a two-hundred day simple moving average of $24.17. The company has a quick ratio of 0.29, a current ratio of 1.21 and a debt-to-equity ratio of 0.38. MarineMax, Inc. has a 12-month low of $16.85 and a 12-month high of $35.46. The firm has a market cap of $561.99 million, a price-to-earnings ratio of -19.54 and a beta of 1.53.

MarineMax (NYSE:HZO) last posted its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.67). The business had revenue of $657.16 million for the quarter, compared to analysts’ expectations of $737.82 million. MarineMax had a negative net margin of 1.15% and a positive return on equity of 2.63%. The business’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.51 earnings per share. On average, equities analysts forecast that MarineMax, Inc. will post 2.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Truist Financial upped their target price on shares of MarineMax from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Wall Street Zen lowered shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Zacks Research lowered shares of MarineMax from a “hold” rating to a “strong sell” rating in a research note on Wednesday. B. Riley reaffirmed a “buy” rating on shares of MarineMax in a research note on Friday, July 25th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of MarineMax in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.00.

MarineMax Profile

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.