Insider Selling: MarineMax, Inc. (HZO) Director Sells 2,500 Shares of Stock
MarineMax, Inc. (NYSE:HZO) Director Dean S. Woodman sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $17.00, for a total transaction of $42,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of MarineMax, Inc. (NYSE HZO) traded up 0.29% during midday trading on Thursday, hitting $17.05. 234,194 shares of the company traded hands. The stock has a 50 day moving average of $15.92 and a 200-day moving average of $18.18. MarineMax, Inc. has a 52 week low of $13.80 and a 52 week high of $23.65. The stock has a market capitalization of $413.91 million, a PE ratio of 17.05 and a beta of 0.97.
MarineMax (NYSE:HZO) last announced its earnings results on Thursday, July 20th. The specialty retailer reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.11). The company had revenue of $329.80 million during the quarter, compared to analysts’ expectations of $383.01 million. MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. Equities analysts forecast that MarineMax, Inc. will post $0.92 earnings per share for the current fiscal year.
MarineMax declared that its board has approved a stock repurchase program on Wednesday, August 2nd that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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Several equities analysts have recently commented on the stock. Citigroup Inc. boosted their target price on shares of MarineMax from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday. B. Riley restated a “buy” rating and issued a $19.75 target price on shares of MarineMax in a research report on Monday, September 25th. Ifs Securities restated a “strong-buy” rating and issued a $20.00 target price on shares of MarineMax in a research report on Thursday, August 24th. TheStreet lowered shares of MarineMax from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. Finally, BidaskClub lowered shares of MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $21.79.
Several hedge funds have recently bought and sold shares of HZO. Thomson Horstmann & Bryant Inc. purchased a new position in shares of MarineMax during the second quarter worth approximately $6,165,000. Kennedy Capital Management Inc. raised its stake in shares of MarineMax by 855.1% during the second quarter. Kennedy Capital Management Inc. now owns 331,000 shares of the specialty retailer’s stock worth $6,471,000 after acquiring an additional 296,343 shares in the last quarter. Impala Asset Management LLC raised its stake in shares of MarineMax by 18.6% during the second quarter. Impala Asset Management LLC now owns 1,795,759 shares of the specialty retailer’s stock worth $35,107,000 after acquiring an additional 282,017 shares in the last quarter. Mitra Capital LLC purchased a new position in shares of MarineMax during the second quarter worth approximately $3,016,000. Finally, Eagle Asset Management Inc. raised its stake in shares of MarineMax by 4.6% during the second quarter. Eagle Asset Management Inc. now owns 3,330,527 shares of the specialty retailer’s stock worth $65,111,000 after acquiring an additional 146,127 shares in the last quarter. 90.57% of the stock is currently owned by hedge funds and other institutional investors.
MarineMax Company Profile
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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