MarineMax, Inc. $HZO Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC increased its holdings in MarineMax, Inc. (NYSE:HZO) by 13.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 272,935 shares of the specialty retailer’s stock after acquiring an additional 32,700 shares during the quarter. First Eagle Investment Management LLC owned approximately 1.27% of MarineMax worth $6,913,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Permanent Capital Management LP purchased a new position in shares of MarineMax during the 3rd quarter valued at approximately $1,072,000. Campbell & CO Investment Adviser LLC acquired a new stake in MarineMax in the second quarter valued at $392,000. Corient Private Wealth LLC acquired a new stake in MarineMax in the second quarter valued at $2,777,000. Private Management Group Inc. boosted its stake in MarineMax by 4.3% during the 2nd quarter. Private Management Group Inc. now owns 583,220 shares of the specialty retailer’s stock valued at $14,662,000 after acquiring an additional 24,124 shares during the last quarter. Finally, Soviero Asset Management LP acquired a new position in MarineMax during the 2nd quarter worth $3,570,000. Institutional investors and hedge funds own 92.85% of the company’s stock.

MarineMax Stock Down 0.3%

MarineMax stock opened at $29.65 on Thursday. The firm has a market capitalization of $653.19 million, a P/E ratio of -11.06 and a beta of 1.66. The company has a 50-day simple moving average of $27.95 and a 200-day simple moving average of $26.17. MarineMax, Inc. has a one year low of $16.85 and a one year high of $32.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.29 and a current ratio of 1.19.

MarineMax (NYSE:HZO) last posted its earnings results on Thursday, January 29th. The specialty retailer reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). MarineMax had a negative net margin of 2.46% and a positive return on equity of 1.13%. The firm had revenue of $505.18 million for the quarter, compared to analyst estimates of $481.67 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts expect that MarineMax, Inc. will post 2.41 earnings per share for the current year.

MarineMax announced that its board has approved a share buyback program on Wednesday, March 4th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to reacquire up to 15.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MarineMax in a research report on Thursday, January 22nd. Citigroup restated a “buy” rating on shares of MarineMax in a research note on Wednesday, January 14th. Loop Capital began coverage on MarineMax in a report on Monday, December 22nd. They set a “buy” rating and a $29.00 target price on the stock. B. Riley Financial reiterated a “buy” rating and issued a $29.00 price target (up from $27.00) on shares of MarineMax in a report on Friday, January 30th. Finally, National Bank Financial set a $35.00 price objective on MarineMax in a research note on Friday, January 30th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.80.

MarineMax Profile

MarineMax, Inc is a publicly traded company on the New York Stock Exchange under the ticker HZO and is one of the largest recreational boat and yacht retailers in the United States. The company markets new and used motor yachts, sailing yachts, sport boats and personal watercraft, acting as an authorized dealer for leading manufacturers. In addition to boat sales, MarineMax provides service and maintenance, parts and accessory sales, training and education, and marina operations.

Operating through a network of sales centers, service facilities and marinas, MarineMax serves coastal and inland markets across the continental U.S.