Short Interest in MarineMax, Inc. (NYSE:HZO) Declines By 10.2%

MarineMax, Inc. (NYSE:HZO) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,680,000 shares, a drop of 10.2% from the October 15th total of 1,870,000 shares. Currently, 8.6% of the company’s stock are short sold. Based on an average daily trading volume, of 237,700 shares, the days-to-cover ratio is presently 7.1 days.

MarineMax Stock Performance

Shares of HZO stock traded down $0.37 during trading hours on Tuesday, hitting $29.03. The stock had a trading volume of 29,205 shares, compared to its average volume of 304,196. The firm has a market capitalization of $655.79 million, a PE ratio of 17.83 and a beta of 1.85. MarineMax has a twelve month low of $22.51 and a twelve month high of $39.85. The stock’s 50 day moving average is $31.88 and its 200 day moving average is $31.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.34.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.06. The business had revenue of $563.10 million during the quarter, compared to the consensus estimate of $576.49 million. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. As a group, research analysts forecast that MarineMax will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HZO. Vanguard Group Inc. increased its position 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% during 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 acquiring an additional 110,601 shares during the last quarter. Levin Capital Strategies L.P. boosted its stake in shares of MarineMax by 140.6% during 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 acquiring an additional 610,994 shares during the last quarter. Private Management Group Inc. boosted its stake in shares of MarineMax by 11.5% during the third quarter. Private Management Group Inc. now owns 534,023 shares of the specialty retailer’s stock valued at $18,835,000 after acquiring an additional 55,033 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of MarineMax by 22.7% during the second quarter. Millennium Management LLC now owns 401,978 shares of the specialty retailer’s stock valued at $13,012,000 after acquiring an additional 74,451 shares during the last quarter. Hedge funds and other institutional investors own 92.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on HZO shares. Benchmark started coverage on MarineMax in a research note on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price objective for the company. Citigroup upgraded MarineMax from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $44.00 in a research note on Monday, September 9th. Truist Financial lifted their price objective on MarineMax from $35.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com downgraded MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, September 3rd. Finally, DA Davidson upped their price target on MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.83.

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.