Algert Global LLC Acquires New Holdings in MarineMax, Inc. (NYSE:HZO)

Algert Global LLC bought a new position in shares of MarineMax, Inc. (NYSE:HZO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 140,329 shares of the specialty retailer’s stock, valued at approximately $4,949,000. Algert Global LLC owned about 0.63% of MarineMax as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in MarineMax by 8.3% during the 2nd 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 grew its holdings 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 worth $13,012,000 after purchasing an additional 74,451 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of MarineMax by 60.0% in the second quarter. Victory Capital Management Inc. now owns 55,243 shares of the specialty retailer’s stock valued at $1,788,000 after buying an additional 20,724 shares during the period. Assenagon Asset Management S.A. raised its holdings in MarineMax by 342.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 29,785 shares of the specialty retailer’s stock valued at $964,000 after buying an additional 23,057 shares during the last quarter. Finally, Royce & Associates LP boosted its position in MarineMax by 45.2% during the 3rd quarter. Royce & Associates LP now owns 368,826 shares of the specialty retailer’s stock worth $13,008,000 after buying an additional 114,880 shares during the period. 92.85% of the stock is currently owned by institutional investors and hedge funds.

MarineMax Stock Up 2.9 %

Shares of MarineMax stock opened at $30.56 on Monday. The stock’s 50-day moving average is $31.75 and its 200 day moving average is $31.55. MarineMax, Inc. has a one year low of $22.51 and a one year high of $39.85. The firm has a market cap of $690.35 million, a price-to-earnings ratio of 18.52 and a beta of 1.85. 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 released its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The company had revenue of $563.10 million for the quarter, compared to the consensus estimate of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. MarineMax’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. Equities research analysts anticipate that MarineMax, Inc. will post 2.33 EPS for the current year.

Analyst Upgrades and Downgrades

HZO has been the subject of several analyst reports. Citigroup raised shares of MarineMax from a “neutral” rating to a “buy” rating and raised their price target for the company from $40.00 to $44.00 in a research note on Monday, September 9th. Benchmark assumed coverage on MarineMax in a report on Tuesday, October 15th. They set a “buy” rating and a $40.00 target price on the stock. Finally, StockNews.com cut MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average 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.