Principal Financial Group Inc. Sells 7,509 Shares of MarineMax, Inc. (NYSE:HZO)

Principal Financial Group Inc. reduced its holdings in shares of MarineMax, Inc. (NYSE:HZO) by 7.5% during the third quarter, according to its most recent Form 13F 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 approximately 0.41% of MarineMax worth $3,270,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of MarineMax by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 185,880 shares of the specialty retailer’s stock worth $6,017,000 after buying an additional 3,867 shares during the last quarter. Victory Capital Management Inc. boosted its stake in MarineMax by 60.0% in the second quarter. Victory Capital Management Inc. now owns 55,243 shares of the specialty retailer’s stock valued at $1,788,000 after acquiring an additional 20,724 shares during the last quarter. Private Management Group Inc. grew its position in shares of MarineMax by 6.8% during the 2nd quarter. Private Management Group Inc. now owns 478,990 shares of the specialty retailer’s stock valued at $15,505,000 after acquiring an additional 30,677 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of MarineMax by 8.3% during the 2nd 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. Finally, Canada Pension Plan Investment Board bought a new stake in shares of MarineMax in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 92.85% of the company’s stock.

Analysts Set New Price Targets

HZO has been the subject of a number of recent research reports. Citigroup raised MarineMax from a “neutral” rating to a “buy” rating and raised their target price for the stock from $40.00 to $44.00 in a research report on Monday, September 9th. StockNews.com upgraded MarineMax from a “sell” rating to a “hold” rating in a research note on Thursday, December 26th. Finally, Benchmark started coverage on shares of MarineMax in a research report on Tuesday, October 15th. They set a “buy” rating and a $40.00 target price for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, MarineMax currently has a consensus rating of “Moderate Buy” and an average price target of $41.83.

MarineMax Trading Up 0.4 %

Shares of HZO opened at $28.13 on Friday. MarineMax, Inc. has a twelve month low of $22.51 and a twelve month high of $38.20. The stock has a market cap of $635.60 million, a PE ratio of 17.05 and a beta of 1.87. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $30.44 and its 200-day moving average price is $31.67.

MarineMax (NYSE:HZO) last posted its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.06. The business had revenue of $563.10 million for 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 business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. On average, equities analysts forecast that MarineMax, Inc. will post 2.33 EPS for the current fiscal year.

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.