Bank of New York Mellon Corp Sells 21,593 Shares of MarineMax, Inc. (HZO)
Bank of New York Mellon Corp lowered its stake in MarineMax, Inc. (NYSE:HZO) by 6.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 315,942 shares of the specialty retailer’s stock after selling 21,593 shares during the quarter. Bank of New York Mellon Corp owned 1.30% of MarineMax worth $6,178,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in shares of MarineMax by 12.0% during the first quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the specialty retailer’s stock valued at $101,000 after purchasing an additional 498 shares during the period. Globeflex Capital L P bought a new position in shares of MarineMax in the first quarter worth approximately $116,000. Mason Street Advisors LLC grew its holdings in shares of MarineMax by 5.2% in the first quarter. Mason Street Advisors LLC now owns 5,676 shares of the specialty retailer’s stock worth $123,000 after purchasing an additional 282 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of 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 worth $192,000 after buying an additional 240 shares during the period. Finally, UBS Group AG increased its stake in shares of MarineMax by 175.7% in the first quarter. UBS Group AG now owns 9,697 shares of the specialty retailer’s stock worth $210,000 after buying an additional 6,180 shares during the period. Hedge funds and other institutional investors own 90.57% of the company’s stock.
A number of equities research analysts recently commented on HZO shares. B. Riley reiterated a “buy” rating and set a $20.00 price target on shares of MarineMax in a report on Friday, July 21st. Citigroup Inc. raised their price target on shares of MarineMax from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday. Ifs Securities reissued a “strong-buy” rating and issued a $20.00 price target on shares of MarineMax in a report on Thursday, August 24th. TheStreet cut shares of MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. Finally, Zacks Investment Research cut shares of MarineMax from a “hold” rating to a “sell” rating in a research report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $22.11.
MarineMax, Inc. (NYSE HZO) opened at 16.65 on Tuesday. The company’s 50 day moving average price is $15.85 and its 200-day moving average price is $18.23. The company has a market cap of $404.20 million, a P/E ratio of 16.65 and a beta of 0.97. MarineMax, Inc. has a one year low of $13.80 and a one year high of $23.65.
MarineMax (NYSE:HZO) last announced its earnings results on Thursday, July 20th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.11). The business had revenue of $329.80 million for 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%. During the same quarter last year, the firm earned $0.57 EPS. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. On average, analysts forecast that MarineMax, Inc. will post $0.93 EPS for the current fiscal year.
MarineMax announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 2nd that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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In other news, Director Dean S. Woodman sold 2,500 shares of MarineMax stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $16.00, for a total transaction of $40,000.00. Following the completion of the sale, the director now directly owns 14,693 shares in the company, valued at $235,088. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dean S. Woodman sold 3,000 shares of MarineMax stock in a transaction on Monday, August 21st. The stock was sold at an average price of $15.00, for a total value of $45,000.00. Following the sale, the director now owns 15,193 shares of the company’s stock, valued at $227,895. The disclosure for this sale can be found here. Insiders have sold a total of 8,000 shares of company stock valued at $125,000 over the last three months. 5.00% of the stock is owned by corporate insiders.
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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