MarineMax (NYSE:HZO) Sets New 1-Year Low – Time to Sell?

Shares of MarineMax, Inc. (NYSE:HZO) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $22.47 and last traded at $22.47, with a volume of 58820 shares. The stock had previously closed at $23.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of MarineMax in a report on Friday, January 24th. DA Davidson lowered their target price on shares of MarineMax from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. B. Riley upgraded shares of MarineMax to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, StockNews.com raised shares of MarineMax from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $41.50.

MarineMax Trading Up 0.5 %

The company has a quick ratio of 0.24, a current ratio of 1.19 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average is $28.27 and its 200-day moving average is $30.36. The stock has a market capitalization of $530.53 million, a price-to-earnings ratio of 9.81 and a beta of 1.91.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, January 23rd. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.31. MarineMax had a net margin of 2.33% and a return on equity of 4.96%. Research analysts anticipate that MarineMax, Inc. will post 2.41 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Clint Moore sold 4,100 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $30.63, for a total transaction of $125,583.00. Following the completion of the transaction, the director now directly owns 23,560 shares in the company, valued at $721,642.80. This trade represents a 14.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Anthony E. Jr. Cassella sold 4,000 shares of MarineMax stock in a transaction on Monday, January 27th. The shares were sold at an average price of $31.06, for a total value of $124,240.00. Following the completion of the sale, the chief accounting officer now directly owns 11,451 shares of the company’s stock, valued at $355,668.06. The trade was a 25.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On MarineMax

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Portolan Capital Management LLC purchased a new stake in MarineMax during the third quarter worth about $11,271,000. Divisadero Street Capital Management LP acquired a new position in shares of MarineMax in the fourth quarter valued at approximately $8,503,000. Algert Global LLC purchased a new stake in MarineMax during the 3rd quarter worth approximately $4,949,000. Concentric Capital Strategies LP acquired a new stake in MarineMax during the 3rd quarter worth approximately $4,832,000. Finally, Royce & Associates LP boosted its position in MarineMax by 45.2% in the 3rd quarter. Royce & Associates LP now owns 368,826 shares of the specialty retailer’s stock valued at $13,008,000 after buying an additional 114,880 shares during the period. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

MarineMax Company Profile

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.