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 MarineMax stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $16.00, for a total value of $40,000.00. Following the completion of the transaction, the director now owns 14,693 shares of the company’s stock, valued at $235,088. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of MarineMax, Inc. (HZO) traded up 0.31% on Monday, hitting $16.15. 357,827 shares of the stock were exchanged. The firm has a market capitalization of $392.06 million, a PE ratio of 16.15 and a beta of 1.00. The company has a 50-day moving average price of $16.30 and a 200-day moving average price of $19.40. MarineMax, Inc. has a one year low of $13.80 and a one year high of $23.65.
MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by $0.11. MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The business had revenue of $329.80 million for the quarter, compared to the consensus estimate of $383.01 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The firm’s revenue was down 4.6% on a year-over-year basis. Equities research analysts expect that MarineMax, Inc. will post $0.99 earnings per share for the current year.
MarineMax declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 2nd that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
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Several hedge funds and other institutional investors have recently modified their holdings of HZO. Eagle Asset Management Inc. boosted its position in shares of MarineMax by 4.6% in the second quarter. Eagle Asset Management Inc. now owns 3,330,527 shares of the specialty retailer’s stock valued at $65,111,000 after buying an additional 146,127 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MarineMax by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,206,573 shares of the specialty retailer’s stock valued at $43,138,000 after buying an additional 9,452 shares in the last quarter. Impala Asset Management LLC boosted its position in shares of MarineMax by 18.6% in the second quarter. Impala Asset Management LLC now owns 1,795,759 shares of the specialty retailer’s stock valued at $35,107,000 after buying an additional 282,017 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of MarineMax by 4.1% in the second quarter. Vanguard Group Inc. now owns 1,349,327 shares of the specialty retailer’s stock valued at $26,380,000 after buying an additional 53,443 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of MarineMax by 5.0% in the second quarter. Macquarie Group Ltd. now owns 1,177,725 shares of the specialty retailer’s stock valued at $23,025,000 after buying an additional 56,596 shares in the last quarter. Hedge funds and other institutional investors own 90.57% of the company’s stock.
A number of equities research analysts have recently weighed in on HZO shares. BidaskClub cut MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Citigroup Inc. reissued a “buy” rating and set a $25.00 target price (down previously from $26.00) on shares of MarineMax in a report on Monday, May 15th. Zacks Investment Research cut MarineMax from a “hold” rating to a “sell” rating in a report on Friday, June 30th. Ifs Securities reissued a “strong-buy” rating and set a $20.00 target price on shares of MarineMax in a report on Thursday. Finally, TheStreet lowered shares of MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. MarineMax presently has a consensus rating of “Buy” and an average target price of $22.86.
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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