Exchange Traded Concepts LLC Buys New Shares in MarineMax, Inc. (NYSE:HZO)

Exchange Traded Concepts LLC purchased a new position in MarineMax, Inc. (NYSE:HZO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,531 shares of the specialty retailer’s stock, valued at approximately $301,000.

Other institutional investors have also added to or reduced their stakes in the company. Shellback Capital LP boosted its stake in shares of MarineMax by 44.1% during the second quarter. Shellback Capital LP now owns 295,633 shares of the specialty retailer’s stock valued at $9,570,000 after purchasing an additional 90,476 shares during the period. The Manufacturers Life Insurance Company boosted its position in MarineMax by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,251 shares of the specialty retailer’s stock valued at $267,000 after buying an additional 408 shares during the period. Millennium Management LLC grew its holdings in 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 acquiring an additional 74,451 shares during the last quarter. AQR Capital Management LLC increased its position in shares of MarineMax by 43.4% in the second quarter. AQR Capital Management LLC now owns 16,202 shares of the specialty retailer’s stock valued at $524,000 after acquiring an additional 4,905 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of MarineMax during the second quarter valued at about $669,000. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

MarineMax Stock Performance

Shares of HZO stock opened at $31.37 on Monday. The company’s fifty day moving average price is $32.05 and its 200-day moving average price is $31.02. The stock has a market cap of $699.58 million, a PE ratio of 11.37 and a beta of 1.82. The company has a current ratio of 1.20, a quick ratio of 0.36 and a debt-to-equity ratio of 0.37. MarineMax, Inc. has a 12 month low of $22.51 and a 12 month high of $39.85.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $1.51 EPS for the quarter, topping the consensus estimate of $1.35 by $0.16. MarineMax had a net margin of 2.00% and a return on equity of 6.26%. The business had revenue of $757.72 million for the quarter, compared to analyst estimates of $720.30 million. During the same quarter in the previous year, the firm posted $2.07 earnings per share. MarineMax’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts expect that MarineMax, Inc. will post 2.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HZO shares. B. Riley cut their target price on MarineMax from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. DA Davidson boosted their target price on MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus raised their price target on MarineMax from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. StockNews.com cut 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 for the company. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat, MarineMax 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.