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

MarineMax, Inc. (NYSE:HZO) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 1,680,000 shares, a decrease 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 trading volume of 237,700 shares, the days-to-cover ratio is currently 7.1 days.

MarineMax Trading Up 0.1 %

Shares of HZO traded up $0.02 during mid-day trading on Monday, hitting $29.42. The company had a trading volume of 93,048 shares, compared to its average volume of 305,429. The business’s 50-day simple moving average is $31.90 and its 200-day simple moving average is $31.45. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. MarineMax has a 1-year low of $22.51 and a 1-year high of $39.85. The stock has a market cap of $656.48 million, a PE ratio of 17.81 and a beta of 1.85.

MarineMax (NYSE:HZO) last posted its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. The business had revenue of $563.10 million for the quarter, compared to analysts’ expectations of $576.49 million. During the same period in the previous year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. Sell-side analysts forecast that MarineMax will post 2.33 earnings per share for the current year.

Institutional Trading of MarineMax

Several institutional investors have recently added to or reduced their stakes in HZO. Dimensional Fund Advisors LP grew its position 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 worth $46,767,000 after acquiring an additional 110,601 shares during the last quarter. Millennium Management LLC boosted its position in shares of MarineMax by 22.7% during the 2nd quarter. Millennium Management LLC now owns 401,978 shares of the specialty retailer’s stock valued at $13,012,000 after purchasing an additional 74,451 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of MarineMax by 60.0% during the 2nd quarter. Victory Capital Management Inc. now owns 55,243 shares of the specialty retailer’s stock valued at $1,788,000 after purchasing an additional 20,724 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of MarineMax by 1.6% in the first quarter. Sei Investments Co. now owns 301,781 shares of the specialty retailer’s stock worth $10,037,000 after buying an additional 4,825 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of MarineMax by 342.7% in the second quarter. Assenagon Asset Management S.A. now owns 29,785 shares of the specialty retailer’s stock worth $964,000 after buying an additional 23,057 shares during the period. Institutional investors own 92.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on HZO. DA Davidson boosted their target price on shares of MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Truist Financial lifted their price objective 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. Citigroup raised shares of MarineMax from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $44.00 in a research note on Monday, September 9th. StockNews.com lowered shares of MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, September 3rd. Finally, Benchmark assumed coverage on shares of MarineMax in a report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.