Short Interest in MarineMax, Inc. (NYSE:HZO) Declines By 10.5%

MarineMax, Inc. (NYSE:HZO) was the target of a large drop in short interest in July. As of July 31st, there was short interest totalling 1,880,000 shares, a drop of 10.5% from the July 15th total of 2,100,000 shares. Based on an average trading volume of 347,600 shares, the short-interest ratio is currently 5.4 days. Approximately 9.6% of the company’s stock are short sold.

MarineMax Trading Up 0.3 %

Shares of HZO stock opened at $30.95 on Tuesday. The business’s 50 day moving average is $32.65 and its two-hundred day moving average is $30.75. MarineMax has a twelve month low of $22.51 and a twelve month high of $39.85. The company has a market capitalization of $690.22 million, a P/E ratio of 11.21 and a beta of 1.84. The company has a current ratio of 1.20, a quick ratio of 0.36 and a debt-to-equity ratio of 0.37.

MarineMax (NYSE:HZO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.16. MarineMax had a return on equity of 6.26% and a net margin of 2.00%. The company had revenue of $757.72 million for the quarter, compared to the consensus estimate of $720.30 million. During the same period last year, the business posted $2.07 EPS. The company’s revenue was up 5.0% on a year-over-year basis. Equities analysts forecast that MarineMax will post 2.33 EPS for the current year.

Institutional Trading of MarineMax

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of MarineMax by 2.0% in the first quarter. Vanguard Group Inc. now owns 1,468,991 shares of the specialty retailer’s stock valued at $48,859,000 after buying an additional 29,473 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of MarineMax by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock valued at $46,767,000 after buying an additional 110,601 shares in the last quarter. Levin Capital Strategies L.P. boosted its stake in shares of MarineMax by 140.6% in the first quarter. Levin Capital Strategies L.P. now owns 1,045,514 shares of the specialty retailer’s stock valued at $34,774,000 after buying an additional 610,994 shares in the last quarter. Broad Bay Capital Management LP boosted its position in MarineMax by 34.1% during the fourth quarter. Broad Bay Capital Management LP now owns 704,034 shares of the specialty retailer’s stock worth $27,387,000 after purchasing an additional 179,034 shares in the last quarter. Finally, Private Management Group Inc. boosted its position in MarineMax by 6.8% during the second quarter. Private Management Group Inc. now owns 478,990 shares of the specialty retailer’s stock worth $15,505,000 after purchasing an additional 30,677 shares in the last quarter. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com raised MarineMax from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. DA Davidson lifted their price target on MarineMax from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Truist Financial lifted their price target on MarineMax from $35.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. B. Riley cut their price target on MarineMax from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus lifted their price target on MarineMax from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.75.

About MarineMax

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates in two segments, Retail Operations and Product Manufacturing. The company sells new and used recreational boats, including pleasure and fishing boats, mega-yachts, yachts, sport cruisers, motor yachts, e-power yachts, pontoon boats, ski boats, jet boats, and other recreational boats.