MarineMax, Inc. (NYSE:HZO) Sees Significant Growth in Short Interest

MarineMax, Inc. (NYSE:HZO) saw a large growth in short interest in October. As of October 15th, there was short interest totalling 1,870,000 shares, a growth of 7.5% from the September 30th total of 1,740,000 shares. Based on an average trading volume of 275,000 shares, the days-to-cover ratio is presently 6.8 days. Approximately 9.6% of the company’s shares are short sold.

MarineMax Stock Up 0.5 %

Shares of MarineMax stock traded up $0.16 on Friday, hitting $29.29. The company had a trading volume of 7,087 shares, compared to its average volume of 308,999. The stock has a market capitalization of $653.69 million, a price-to-earnings ratio of 13.56 and a beta of 1.82. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.36 and a current ratio of 1.20. MarineMax has a 1 year low of $22.51 and a 1 year high of $39.85. The stock has a 50 day moving average of $32.03 and a 200-day moving average of $31.05.

MarineMax (NYSE:HZO) last issued 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. MarineMax had a return on equity of 6.26% and a net margin of 2.00%. The business had revenue of $563.10 million for the quarter, compared to analysts’ expectations of $576.49 million. During the same period last year, the business earned $0.69 EPS. The business’s revenue was down 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that MarineMax will post 2.06 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Levin Capital Strategies L.P. grew its stake in MarineMax by 140.6% in the 1st quarter. Levin Capital Strategies L.P. now owns 1,045,514 shares of the specialty retailer’s stock valued at $34,774,000 after purchasing an additional 610,994 shares during the period. Dimensional Fund Advisors LP grew its position in 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 buying an additional 110,601 shares during the period. Shellback Capital LP increased its holdings in MarineMax by 44.1% during the second quarter. Shellback Capital LP now owns 295,633 shares of the specialty retailer’s stock worth $9,570,000 after buying an additional 90,476 shares during the last quarter. Millennium Management LLC increased its holdings in MarineMax by 22.7% during the second quarter. Millennium Management LLC now owns 401,978 shares of the specialty retailer’s stock worth $13,012,000 after buying an additional 74,451 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in MarineMax by 212.4% in the third quarter. Assenagon Asset Management S.A. now owns 93,056 shares of the specialty retailer’s stock worth $3,282,000 after acquiring an additional 63,271 shares during the period. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on HZO shares. Truist Financial increased their target price on shares of MarineMax from $35.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. DA Davidson boosted their target price on MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. B. Riley cut their price target on MarineMax from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Stifel Nicolaus raised their price objective on MarineMax from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, StockNews.com lowered MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, MarineMax presently has an average rating of “Moderate Buy” and an average price target of $41.83.

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.