Royce & Associates LP Buys 114,880 Shares of MarineMax, Inc. (NYSE:HZO)

Royce & Associates LP increased its stake in shares of MarineMax, Inc. (NYSE:HZO) by 45.2% in the third quarter, Holdings Channel.com reports. The fund owned 368,826 shares of the specialty retailer’s stock after purchasing an additional 114,880 shares during the period. Royce & Associates LP’s holdings in MarineMax were worth $13,008,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in shares of MarineMax by 5.2% during the second quarter. The Manufacturers Life Insurance Company now owns 8,251 shares of the specialty retailer’s stock worth $267,000 after acquiring an additional 408 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of MarineMax by 3.3% during the first quarter. Janus Henderson Group PLC now owns 16,616 shares of the specialty retailer’s stock worth $553,000 after acquiring an additional 529 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in shares of MarineMax by 3.1% during the first quarter. Texas Permanent School Fund Corp now owns 17,628 shares of the specialty retailer’s stock worth $586,000 after acquiring an additional 536 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of MarineMax by 2.9% during the second quarter. SummerHaven Investment Management LLC now owns 20,150 shares of the specialty retailer’s stock worth $652,000 after acquiring an additional 567 shares during the last quarter. Finally, Bfsg LLC boosted its position in shares of MarineMax by 19.1% during the third quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock worth $150,000 after acquiring an additional 681 shares during the last quarter. Institutional investors own 92.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on HZO. Benchmark began coverage on shares of MarineMax in a research report on Tuesday, October 15th. They set a “buy” rating and a $40.00 price objective for the company. StockNews.com lowered shares of MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. Truist Financial increased their price objective on shares of MarineMax from $35.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, July 26th. DA Davidson increased their price objective on shares of MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup upgraded shares of MarineMax from a “neutral” rating to a “buy” rating and increased their price objective for the company from $40.00 to $44.00 in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat, MarineMax currently has a consensus rating of “Moderate Buy” and an average price target of $41.83.

MarineMax Price Performance

MarineMax stock opened at $29.39 on Friday. The firm has a 50-day moving average price of $31.90 and a 200-day moving average price of $31.35. The firm has a market capitalization of $655.98 million, a PE ratio of 17.81 and a beta of 1.85. The company has a current ratio of 1.19, a quick ratio of 0.34 and a debt-to-equity ratio of 0.36. MarineMax, Inc. has a 12-month low of $22.51 and a 12-month high of $39.85.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.06. The firm had revenue of $563.10 million during the quarter, compared to analyst estimates of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. The business’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the business earned $0.69 EPS. As a group, equities research analysts forecast that MarineMax, Inc. will post 2.33 EPS 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.