MTM Investment Management LLC Trims Stock Position in MarineMax, Inc. (NYSE:HZO)

MTM Investment Management LLC lessened its holdings in MarineMax, Inc. (NYSE:HZO) by 8.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,522 shares of the specialty retailer’s stock after selling 597 shares during the period. MTM Investment Management LLC’s holdings in MarineMax were worth $216,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swiss National Bank boosted its stake in shares of MarineMax by 1.8% during the 1st quarter. Swiss National Bank now owns 39,600 shares of the specialty retailer’s stock worth $1,317,000 after acquiring an additional 700 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in MarineMax by 45.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 8,897 shares of the specialty retailer’s stock valued at $296,000 after purchasing an additional 2,800 shares in the last quarter. Vanguard Group Inc. grew its holdings in MarineMax by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,468,991 shares of the specialty retailer’s stock valued at $48,859,000 after purchasing an additional 29,473 shares during the period. UniSuper Management Pty Ltd purchased a new stake in MarineMax in the first quarter worth about $437,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of MarineMax by 7.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 23,576 shares of the specialty retailer’s stock worth $785,000 after buying an additional 1,625 shares during the period. Hedge funds and other institutional investors own 92.85% of the company’s stock.

MarineMax Price Performance

MarineMax stock opened at $29.58 on Wednesday. MarineMax, Inc. has a 52-week low of $22.51 and a 52-week high of $39.85. The company has a market cap of $668.21 million, a price-to-earnings ratio of 17.93 and a beta of 1.85. The firm’s fifty day moving average is $31.87 and its 200 day moving average is $31.50. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, October 31st. The specialty retailer reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The firm had revenue of $563.10 million during the quarter, compared to the consensus estimate of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 EPS. Sell-side analysts forecast that MarineMax, Inc. will post 2.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HZO shares. DA Davidson boosted their price objective on MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Citigroup upgraded shares of MarineMax from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $44.00 in a research report on Monday, September 9th. StockNews.com cut shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, September 3rd. Truist Financial lifted their target price on shares of MarineMax from $35.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Benchmark started coverage on MarineMax in a report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat, MarineMax currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.83.

MarineMax Company 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.