Point72 Asset Management L.P. Makes New $143,000 Investment in MarineMax, Inc. (NYSE:HZO)

Point72 Asset Management L.P. acquired a new stake in shares of MarineMax, Inc. (NYSE:HZO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,062 shares of the specialty retailer’s stock, valued at approximately $143,000.

Several other large investors have also modified their holdings of HZO. Dimensional Fund Advisors LP increased 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 worth $46,767,000 after purchasing an additional 110,601 shares during the last quarter. Private Management Group Inc. increased its holdings in shares of MarineMax by 11.5% during the 3rd quarter. Private Management Group Inc. now owns 534,023 shares of the specialty retailer’s stock worth $18,835,000 after buying an additional 55,033 shares during the last quarter. Millennium Management LLC raised its position in shares of MarineMax by 22.7% in the 2nd 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 period. Royce & Associates LP boosted its holdings in MarineMax by 45.2% in the third quarter. Royce & Associates LP now owns 368,826 shares of the specialty retailer’s stock valued at $13,008,000 after acquiring an additional 114,880 shares during the last quarter. Finally, Portolan Capital Management LLC purchased a new stake in MarineMax during the third quarter valued at about $11,271,000. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HZO has been the topic of a number of research reports. Benchmark assumed coverage on MarineMax in a report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price objective on the stock. Citigroup upgraded 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 report on Monday, September 9th. Finally, StockNews.com upgraded shares of MarineMax from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.83.

MarineMax Stock Performance

MarineMax stock opened at $30.69 on Friday. The firm has a market capitalization of $693.29 million, a PE ratio of 18.60 and a beta of 1.87. MarineMax, Inc. has a one year low of $22.51 and a one year high of $39.85. The stock’s 50 day moving average price is $31.02 and its 200 day moving average price is $32.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.34 and a current ratio of 1.19.

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. As a group, sell-side analysts expect that MarineMax, Inc. will post 2.33 EPS for the current fiscal year.

MarineMax 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.