Bank of Montreal Can Lowers Position in MarineMax, Inc. (HZO)
Bank of Montreal Can reduced its stake in shares of MarineMax, Inc. (NYSE:HZO) by 18.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,199 shares of the specialty retailer’s stock after selling 16,094 shares during the period. Bank of Montreal Can owned 0.28% of MarineMax worth $1,431,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its position in MarineMax by 12.0% in the first quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the specialty retailer’s stock valued at $101,000 after buying an additional 498 shares during the last quarter. Globeflex Capital L P acquired a new position in MarineMax during the first quarter valued at approximately $116,000. Mason Street Advisors LLC raised its position in MarineMax by 5.2% in the first quarter. Mason Street Advisors LLC now owns 5,676 shares of the specialty retailer’s stock valued at $123,000 after buying an additional 282 shares during the last quarter. Acrospire Investment Management LLC acquired a new position in MarineMax during the first quarter valued at approximately $133,000. Finally, Municipal Employees Retirement System of Michigan raised its position in MarineMax by 2.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,880 shares of the specialty retailer’s stock valued at $192,000 after buying an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.
MarineMax, Inc. (NYSE HZO) traded up 0.784% on Thursday, reaching $16.075. 113,843 shares of the company traded hands. MarineMax, Inc. has a 52-week low of $13.80 and a 52-week high of $23.65. The firm has a 50 day moving average price of $17.01 and a 200 day moving average price of $19.65. The stock has a market capitalization of $390.24 million, a price-to-earnings ratio of 16.075 and a beta of 1.00.
MarineMax (NYSE:HZO) last announced its earnings results on Thursday, July 20th. The specialty retailer reported $0.57 EPS for the quarter, missing the consensus estimate of $0.68 by $0.11. The business had revenue of $329.80 million for the quarter, compared to the consensus estimate of $383.01 million. MarineMax had a return on equity of 7.53% and a net margin of 2.45%. MarineMax’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 EPS. Equities research analysts predict that MarineMax, Inc. will post $1.00 EPS for the current year.
MarineMax announced that its Board of Directors 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 buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
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Several research analysts recently commented on the stock. B. Riley restated a “buy” rating and issued a $26.00 price target on shares of MarineMax in a report on Wednesday, May 3rd. BidaskClub lowered shares of MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research lowered shares of MarineMax from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. TheStreet lowered shares of MarineMax from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. Finally, Citigroup Inc. restated a “buy” rating and issued a $25.00 price target (down previously from $26.00) on shares of MarineMax in a report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $23.33.
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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