MarineMax (NYSE:HZO) Shares Down 5.8% - Here's What Happened

MarineMax, Inc. (NYSE:HZO - Get Free Report) shares fell 5.8% on Tuesday . The company traded as low as $22.86 and last traded at $23.05. 223,274 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 268,160 shares. The stock had previously closed at $24.48.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HZO shares. Benchmark reiterated a "buy" rating and set a $40.00 price target on shares of MarineMax in a research note on Friday, January 24th. B. Riley upgraded shares of MarineMax to a "strong-buy" rating in a research note on Wednesday, February 12th. StockNews.com upgraded shares of MarineMax from a "sell" rating to a "hold" rating in a research note on Friday, January 24th. Finally, DA Davidson cut their price target on shares of MarineMax from $38.00 to $35.00 and set a "buy" rating on the stock in a research note 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $41.50.

MarineMax Trading Up 3.5 %

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.19 and a quick ratio of 0.24. The company has a market capitalization of $552.53 million, a price-to-earnings ratio of 10.22 and a beta of 1.91. The business's 50 day simple moving average is $28.00 and its 200 day simple moving average is $30.23.

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

Insider Activity

In other news, CAO Anthony E. Jr. Cassella sold 4,000 shares of MarineMax stock in a transaction dated Monday, January 27th. The shares were 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. The trade was a 25.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clint Moore sold 4,100 shares of the business's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $30.63, for a total transaction of $125,583.00. Following the sale, the director now directly owns 23,560 shares in the company, valued at approximately $721,642.80. This represents a 14.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.00% of the company's stock.

Institutional Trading of MarineMax

A number of institutional investors have recently added to or reduced their stakes in HZO. Victory Capital Management Inc. boosted its holdings in MarineMax by 134.3% during the third quarter. Victory Capital Management Inc. now owns 129,416 shares of the specialty retailer's stock worth $4,565,000 after buying an additional 74,173 shares in the last quarter. Royce & Associates LP boosted its holdings in MarineMax by 45.2% during the third 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 in the last quarter. Empowered Funds LLC boosted its holdings in MarineMax by 5.3% during the third quarter. Empowered Funds LLC now owns 21,473 shares of the specialty retailer's stock worth $757,000 after buying an additional 1,072 shares in the last quarter. Intech Investment Management LLC purchased a new stake in MarineMax during the third quarter worth about $912,000. Finally, Algert Global LLC purchased a new stake in MarineMax during the third quarter worth about $4,949,000. Hedge funds and other institutional investors own 92.85% of the company's stock.

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.