New York State Teachers Retirement System reduced its holdings in MarineMax, Inc. (NYSE:HZO) by 9.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,020 shares of the specialty retailer’s stock after selling 8,086 shares during the period. New York State Teachers Retirement System owned approximately 0.34% of MarineMax worth $1,324,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Victory Capital Management Inc. lifted its holdings in MarineMax by 45.7% in the third quarter. Victory Capital Management Inc. now owns 108,981 shares of the specialty retailer’s stock valued at $1,804,000 after buying an additional 34,186 shares during the period. Crossmark Global Holdings Inc. acquired a new position in MarineMax in the third quarter valued at approximately $232,000. Thomson Horstmann & Bryant Inc. lifted its holdings in MarineMax by 24.5% in the third quarter. Thomson Horstmann & Bryant Inc. now owns 392,657 shares of the specialty retailer’s stock valued at $6,498,000 after buying an additional 77,293 shares during the period. CAPROCK Group Inc. acquired a new position in MarineMax in the third quarter valued at approximately $213,000. Finally, Strs Ohio acquired a new position in MarineMax in the third quarter valued at approximately $3,641,000. Institutional investors and hedge funds own 90.57% of the company’s stock.
HZO has been the topic of several analyst reports. B. Riley restated a “buy” rating and issued a $20.00 price objective on shares of MarineMax in a report on Friday, July 21st. TheStreet lowered shares of MarineMax from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. BidaskClub lowered shares of MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Forward View lowered shares of MarineMax from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, Citigroup Inc. increased their target price on shares of MarineMax from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $21.67.
In related news, Director Dean S. Woodman sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $16.00, for a total transaction of $40,000.00. Following the sale, the director now directly owns 14,693 shares in the company, valued at $235,088. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman William H. Mcgill, Jr. sold 35,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $21.03, for a total transaction of $736,050.00. Following the sale, the chairman now owns 281,640 shares in the company, valued at $5,922,889.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,500 shares of company stock worth $1,114,550. Company insiders own 5.00% of the company’s stock.
Shares of MarineMax, Inc. (HZO) opened at $19.80 on Tuesday. The firm has a market cap of $481.83, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 0.58 and a beta of 0.99. MarineMax, Inc. has a twelve month low of $13.80 and a twelve month high of $23.65.
MarineMax (NYSE:HZO) last posted its earnings results on Tuesday, October 31st. The specialty retailer reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.11. The company had revenue of $250.62 million for the quarter, compared to analyst estimates of $231.96 million. MarineMax had a net margin of 2.24% and a return on equity of 7.82%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $0.18 earnings per share. equities research analysts expect that MarineMax, Inc. will post 1.16 EPS for the current fiscal year.
MarineMax announced that its Board of Directors has approved a share repurchase program on Wednesday, August 2nd that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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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