Bank of New York Mellon Corp Cuts Stock Position in MarineMax, Inc. (NYSE:HZO)

Bank of New York Mellon Corp reduced its stake in MarineMax, Inc. (NYSE:HZO - Free Report) by 17.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 134,792 shares of the specialty retailer's stock after selling 28,896 shares during the period. Bank of New York Mellon Corp owned approximately 0.59% of MarineMax worth $3,902,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in MarineMax by 8.4% during the third quarter. JPMorgan Chase & Co. now owns 11,705 shares of the specialty retailer's stock worth $413,000 after purchasing an additional 905 shares during the period. Empowered Funds LLC increased its stake in MarineMax by 4.7% during the fourth quarter. Empowered Funds LLC now owns 22,479 shares of the specialty retailer's stock worth $651,000 after purchasing an additional 1,006 shares during the period. Janus Henderson Group PLC increased its stake in MarineMax by 7.0% during the third quarter. Janus Henderson Group PLC now owns 20,066 shares of the specialty retailer's stock worth $707,000 after purchasing an additional 1,319 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in MarineMax during the third quarter worth about $67,000. Finally, Principal Financial Group Inc. increased its stake in MarineMax by 4.1% during the fourth quarter. Principal Financial Group Inc. now owns 96,504 shares of the specialty retailer's stock worth $2,794,000 after purchasing an additional 3,779 shares during the period. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, Director Clint Moore sold 4,100 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $30.63, for a total value of $125,583.00. Following the completion of the sale, the director now directly owns 23,560 shares of the company's stock, valued at approximately $721,642.80. This represents a 14.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Anthony E. Jr. Cassella sold 4,000 shares of the company's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $31.06, for a total value of $124,240.00. Following the sale, the chief accounting officer now owns 11,451 shares of the company's stock, valued at $355,668.06. This trade represents a 25.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company's stock.

MarineMax Stock Down 2.1 %

HZO traded down $0.48 on Friday, reaching $22.97. The company's stock had a trading volume of 383,866 shares, compared to its average volume of 285,807. The stock has a 50 day moving average of $27.13 and a two-hundred day moving average of $29.66. The company has a quick ratio of 0.24, a current ratio of 1.19 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $521.49 million, a price-to-earnings ratio of 9.65 and a beta of 1.94. MarineMax, Inc. has a fifty-two week low of $22.08 and a fifty-two week high of $38.20.

MarineMax (NYSE:HZO - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.31. MarineMax had a return on equity of 4.96% and a net margin of 2.33%. As a group, analysts forecast that MarineMax, Inc. will post 2.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HZO. Benchmark reiterated a "buy" rating and set a $40.00 price target on shares of MarineMax in a research note on Friday, January 24th. StockNews.com raised MarineMax from a "sell" rating to a "hold" rating in a research report on Friday, January 24th. B. Riley raised MarineMax to a "strong-buy" rating in a research report on Wednesday, February 12th. Finally, DA Davidson lowered their price objective on MarineMax from $38.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $41.50.

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.