Divisadero Street Capital Management LP Buys New Holdings in MarineMax, Inc. $HZO

Divisadero Street Capital Management LP purchased a new position in MarineMax, Inc. (NYSE:HZO) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 656,154 shares of the specialty retailer’s stock, valued at approximately $16,620,000. Divisadero Street Capital Management LP owned 3.06% of MarineMax at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of HZO. Rhumbline Advisers boosted its holdings in shares of MarineMax by 0.7% in the 3rd quarter. Rhumbline Advisers now owns 65,383 shares of the specialty retailer’s stock valued at $1,656,000 after acquiring an additional 439 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of MarineMax by 52.7% during the second quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the specialty retailer’s stock worth $34,000 after purchasing an additional 466 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of MarineMax by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,921 shares of the specialty retailer’s stock worth $278,000 after purchasing an additional 546 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in MarineMax by 12.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,008 shares of the specialty retailer’s stock valued at $126,000 after purchasing an additional 567 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in MarineMax by 3.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 22,400 shares of the specialty retailer’s stock valued at $563,000 after purchasing an additional 646 shares during the last quarter. 92.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on HZO shares. Citigroup reiterated a “buy” rating on shares of MarineMax in a research note on Wednesday, January 14th. National Bank Financial set a $35.00 target price on MarineMax in a research note on Friday, January 30th. Wall Street Zen raised MarineMax from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Zacks Research raised MarineMax from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Finally, B. Riley Financial restated a “buy” rating and issued a $29.00 price objective (up from $27.00) on shares of MarineMax in a research report on Friday, January 30th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, MarineMax presently has an average rating of “Moderate Buy” and a consensus target price of $30.80.

MarineMax Trading Down 3.6%

HZO stock opened at $25.40 on Monday. MarineMax, Inc. has a 52-week low of $16.85 and a 52-week high of $32.00. The company has a quick ratio of 0.29, a current ratio of 1.19 and a debt-to-equity ratio of 0.37. The firm has a market cap of $559.65 million, a P/E ratio of -9.48 and a beta of 1.66. The company’s 50-day simple moving average is $28.30 and its 200-day simple moving average is $26.17.

MarineMax (NYSE:HZO) last announced its quarterly 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). The business had revenue of $505.18 million during the quarter, compared to analysts’ expectations of $481.67 million. MarineMax had a negative net margin of 2.46% and a positive return on equity of 1.13%. MarineMax’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 EPS. As a group, equities analysts forecast that MarineMax, Inc. will post 2.41 EPS for the current fiscal year.

MarineMax declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 4th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the specialty retailer to buy up to 15.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

About MarineMax

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.