Portolan Capital Management LLC Raises Stock Position in MarineMax, Inc. $HZO

Portolan Capital Management LLC boosted its stake in MarineMax, Inc. (NYSE:HZO) by 27.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 392,713 shares of the specialty retailer’s stock after purchasing an additional 84,725 shares during the quarter. Portolan Capital Management LLC owned about 1.83% of MarineMax worth $9,947,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of HZO. Permanent Capital Management LP bought a new stake in shares of MarineMax in the 3rd quarter worth about $1,072,000. Campbell & CO Investment Adviser LLC bought a new position in MarineMax in the second quarter worth approximately $392,000. Corient Private Wealth LLC purchased a new position in shares of MarineMax during the second quarter valued at $2,777,000. Private Management Group Inc. raised its holdings in shares of MarineMax by 4.3% in the 2nd quarter. Private Management Group Inc. now owns 583,220 shares of the specialty retailer’s stock valued at $14,662,000 after purchasing an additional 24,124 shares in the last quarter. Finally, CenterBook Partners LP raised its stake in MarineMax by 183.8% in the third quarter. CenterBook Partners LP now owns 304,718 shares of the specialty retailer’s stock worth $7,719,000 after buying an additional 197,336 shares in the last quarter. 92.85% of the stock is owned by hedge funds and other institutional investors.

MarineMax Stock Down 3.6%

Shares of NYSE:HZO opened at $25.40 on Friday. MarineMax, Inc. has a twelve month low of $16.85 and a twelve month high of $32.00. The company has a current ratio of 1.19, a quick ratio of 0.29 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $559.65 million, a PE ratio of -9.48 and a beta of 1.66. The firm has a 50 day simple moving average of $28.30 and a 200-day simple moving average of $26.19.

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

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

Analyst Ratings Changes

HZO has been the topic of several analyst reports. Zacks Research raised shares of MarineMax from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Benchmark reiterated a “buy” rating on shares of MarineMax in a report on Friday, January 30th. Wall Street Zen raised MarineMax from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. National Bank Financial set a $35.00 target price on shares of MarineMax in a report on Friday, January 30th. Finally, Loop Capital began coverage on MarineMax in a report on Monday, December 22nd. They issued a “buy” rating and a $29.00 price target for the company. 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 MarketBeat.com, the stock presently has a consensus 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.