MarineMax Target of Unusually Large Options Trading (NYSE:HZO)

MarineMax, Inc. (NYSE:HZO) saw unusually large options trading on Thursday. Investors acquired 831 put options on the stock. This is an increase of approximately 803% compared to the average daily volume of 92 put options.

Shares of NYSE:HZO opened at $50.41 on Friday. MarineMax has a 12 month low of $11.59 and a 12 month high of $63.99. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 15.05 and a beta of 1.79. The stock’s 50 day moving average price is $52.07 and its 200 day moving average price is $40.26. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.85 and a quick ratio of 0.75.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, April 22nd. The specialty retailer reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.96. The company had revenue of $523.10 million during the quarter, compared to analyst estimates of $438.23 million. MarineMax had a net margin of 4.94% and a return on equity of 18.47%. The business’s revenue for the quarter was up 69.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. On average, sell-side analysts expect that MarineMax will post 3.87 EPS for the current year.

In other news, Chairman William H. Mcgill, Jr. sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 11th. The stock was sold at an average price of $45.05, for a total value of $45,050.00. Also, CAO Anthony E. Jr. Cassella sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 11th. The stock was sold at an average price of $57.79, for a total transaction of $115,580.00. Following the completion of the sale, the chief accounting officer now owns 9,139 shares of the company’s stock, valued at $528,142.81. The disclosure for this sale can be found here. In the last three months, insiders sold 24,500 shares of company stock valued at $1,278,680. 3.80% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in HZO. Guggenheim Capital LLC grew its holdings in shares of MarineMax by 117.6% during the fourth quarter. Guggenheim Capital LLC now owns 37,310 shares of the specialty retailer’s stock valued at $1,307,000 after buying an additional 20,165 shares in the last quarter. Russell Investments Group Ltd. grew its position in MarineMax by 13.5% during the fourth quarter. Russell Investments Group Ltd. now owns 170,153 shares of the specialty retailer’s stock valued at $5,998,000 after purchasing an additional 20,248 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of MarineMax by 18.6% during the 4th quarter. Panagora Asset Management Inc. now owns 152,540 shares of the specialty retailer’s stock valued at $5,343,000 after acquiring an additional 23,947 shares in the last quarter. Sei Investments Co. grew its stake in MarineMax by 187.8% in the third quarter. Sei Investments Co. now owns 114,030 shares of the specialty retailer’s stock valued at $2,927,000 after purchasing an additional 74,407 shares in the last quarter. Finally, Credit Suisse AG raised its position in MarineMax by 15.5% during the fourth quarter. Credit Suisse AG now owns 40,010 shares of the specialty retailer’s stock valued at $1,402,000 after acquiring an additional 5,357 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

A number of equities research analysts have issued reports on HZO shares. Raymond James increased their price objective on shares of MarineMax from $48.00 to $67.00 and gave the company an “outperform” rating in a report on Monday, March 29th. Truist Securities raised their target price on shares of MarineMax from $52.00 to $54.00 in a report on Monday, April 12th. Northcoast Research downgraded MarineMax from a “buy” rating to a “neutral” rating in a research report on Thursday, February 25th. Zacks Investment Research upgraded MarineMax from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Wednesday, April 14th. Finally, Truist increased their price target on MarineMax from $52.00 to $54.00 in a research report on Monday, April 12th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $44.78.

MarineMax Company Profile

MarineMax, Inc operates as a recreational boat and yacht retailer in the United States. The company sells new and used recreational boats, including pleasure boats, boats, and sport cruisers; mega-yachts, sport yachts, and other yachts; fishing boats; motor and convertible yachts; pontoon boats; fishing boats; ski boats; and jet boats.

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