MarineMax, Inc. (NYSE:HZO) Sees Large Increase in Short Interest

MarineMax, Inc. (NYSE:HZO) was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totalling 2,050,000 shares, a growth of 9.0% from the July 31st total of 1,880,000 shares. Approximately 10.4% of the shares of the stock are sold short. Based on an average daily volume of 338,900 shares, the days-to-cover ratio is currently 6.0 days.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HZO. Zurcher Kantonalbank Zurich Cantonalbank grew its position in MarineMax by 25.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the specialty retailer’s stock worth $135,000 after purchasing an additional 696 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of MarineMax by 175.9% in the 4th quarter. New York State Common Retirement Fund now owns 21,596 shares of the specialty retailer’s stock valued at $840,000 after acquiring an additional 13,769 shares during the period. Charles Schwab Investment Management Inc. raised its stake in MarineMax by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 456,701 shares of the specialty retailer’s stock worth $17,766,000 after acquiring an additional 31,856 shares during the last quarter. Versor Investments LP acquired a new stake in MarineMax during the 4th quarter worth about $284,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of MarineMax by 23.6% during the fourth quarter. BNP Paribas Financial Markets now owns 145,263 shares of the specialty retailer’s stock worth $5,651,000 after purchasing an additional 27,781 shares during the period. 92.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on HZO. B. Riley cut their target price on shares of MarineMax from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Stifel Nicolaus lifted their target price on MarineMax from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 12th. DA Davidson boosted their target price 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 objective on MarineMax from $35.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, StockNews.com downgraded MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.75.

MarineMax Stock Down 0.7 %

NYSE:HZO traded down $0.22 during mid-day trading on Tuesday, reaching $31.50. The company’s stock had a trading volume of 12,349 shares, compared to its average volume of 322,219. The company has a quick ratio of 0.36, a current ratio of 1.20 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $702.48 million, a PE ratio of 11.49 and a beta of 1.84. The stock has a fifty day moving average of $32.29 and a 200-day moving average of $30.74. MarineMax has a 1 year low of $22.51 and a 1 year high of $39.85.

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

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.