Principal Financial Group Inc. Lowers Holdings in MarineMax, Inc. (NYSE:HZO)

Principal Financial Group Inc. lessened its holdings in shares of MarineMax, Inc. (NYSE:HZO) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 92,725 shares of the specialty retailer’s stock after selling 7,509 shares during the quarter. Principal Financial Group Inc. owned about 0.42% of MarineMax worth $3,270,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new position in shares of MarineMax during the second quarter worth $52,000. Bfsg LLC grew its holdings in MarineMax by 19.1% during the 3rd quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock valued at $150,000 after buying an additional 681 shares in the last quarter. James Investment Research Inc. bought a new stake in MarineMax in the 3rd quarter worth approximately $203,000. Price T Rowe Associates Inc. MD raised its holdings in shares of MarineMax by 17.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,158 shares of the specialty retailer’s stock worth $205,000 after acquiring an additional 924 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of 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 acquiring an additional 408 shares during the last quarter. 92.85% of the stock is owned by hedge funds and other institutional investors.

MarineMax Price Performance

Shares of NYSE HZO opened at $29.71 on Friday. The firm’s 50 day simple moving average is $31.84 and its 200-day simple moving average is $31.48. MarineMax, Inc. has a 12 month low of $22.51 and a 12 month high of $39.85. The stock has a market capitalization of $671.30 million, a price-to-earnings ratio of 18.01 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 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The business had revenue of $563.10 million during the quarter, compared to analysts’ expectations of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 earnings per share. Analysts expect that MarineMax, Inc. will post 2.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HZO shares. StockNews.com cut shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, September 3rd. Truist Financial increased their price target on MarineMax from $35.00 to $44.00 and gave the company a “buy” rating in a report on Friday, July 26th. Benchmark started coverage on shares of MarineMax in a report on Tuesday, October 15th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Citigroup upgraded MarineMax from a “neutral” rating to a “buy” rating and increased their target price for the stock from $40.00 to $44.00 in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.