Rutabaga Capital Management LLC MA Sells 41,900 Shares of MarineMax, Inc. (HZO)
Rutabaga Capital Management LLC MA reduced its position in shares of MarineMax, Inc. (NYSE:HZO) by 9.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 385,416 shares of the specialty retailer’s stock after selling 41,900 shares during the quarter. Rutabaga Capital Management LLC MA owned 1.62% of MarineMax worth $7,535,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in HZO. Thomson Horstmann & Bryant Inc. bought a new stake in shares of MarineMax during the 2nd quarter valued at about $6,165,000. Kennedy Capital Management Inc. grew its stake in shares of MarineMax by 855.1% during the 2nd quarter. Kennedy Capital Management Inc. now owns 331,000 shares of the specialty retailer’s stock valued at $6,471,000 after purchasing an additional 296,343 shares during the period. Impala Asset Management LLC grew its stake in shares of MarineMax by 18.6% during the 2nd quarter. Impala Asset Management LLC now owns 1,795,759 shares of the specialty retailer’s stock valued at $35,107,000 after purchasing an additional 282,017 shares during the period. Mitra Capital LLC bought a new stake in shares of MarineMax during the 2nd quarter valued at about $3,016,000. Finally, Eagle Asset Management Inc. grew its stake in shares of MarineMax by 4.6% during the 2nd quarter. Eagle Asset Management Inc. now owns 3,330,527 shares of the specialty retailer’s stock valued at $65,111,000 after purchasing an additional 146,127 shares during the period. Institutional investors and hedge funds own 90.57% of the company’s stock.
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A number of equities research analysts have issued reports on HZO shares. BidaskClub downgraded MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Citigroup Inc. boosted their price target on MarineMax from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, October 2nd. Ifs Securities restated a “strong-buy” rating and set a $20.00 price target on shares of MarineMax in a research note on Thursday, August 24th. TheStreet downgraded MarineMax from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Finally, B. Riley restated a “buy” rating and set a $19.75 price target on shares of MarineMax in a research note on Monday, September 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $21.79.
MarineMax, Inc. (NYSE:HZO) traded up 1.81% on Friday, hitting $16.85. The stock had a trading volume of 41,015 shares. The company’s 50 day moving average is $16.16 and its 200-day moving average is $18.00. The stock has a market cap of $409.05 million, a P/E ratio of 16.85 and a beta of 0.97. MarineMax, Inc. has a 12 month low of $13.80 and a 12 month high of $23.65.
MarineMax (NYSE:HZO) last posted 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 company had revenue of $329.80 million for the quarter, compared to analyst estimates of $383.01 million. MarineMax had a return on equity of 7.53% and a net margin of 2.45%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. Analysts forecast that MarineMax, Inc. will post $0.91 EPS for the current year.
MarineMax announced that its board has approved a stock repurchase program on Wednesday, August 2nd that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Dean S. Woodman sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $15.00, for a total transaction of $45,000.00. Following the sale, the director now directly owns 15,193 shares of the company’s stock, valued at $227,895. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Dean S. Woodman sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $17.00, for a total value of $42,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,500 shares of company stock worth $167,500. 5.00% of the stock is owned by corporate insiders.
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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