Raymond James Financial Services Advisors Inc. Sells 10,834 Shares of MarineMax, Inc. (NYSE:HZO)

Raymond James Financial Services Advisors Inc. reduced its stake in MarineMax, Inc. (NYSE:HZO) by 41.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,392 shares of the specialty retailer’s stock after selling 10,834 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.07% of MarineMax worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in shares of MarineMax by 481.9% in the fourth quarter. JPMorgan Chase & Co. now owns 331,253 shares of the specialty retailer’s stock worth $10,341,000 after purchasing an additional 274,328 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of MarineMax by 665.0% during the 1st quarter. Thrivent Financial for Lutherans now owns 168,983 shares of the specialty retailer’s stock valued at $4,858,000 after purchasing an additional 146,895 shares in the last quarter. Citigroup Inc. grew its stake in MarineMax by 119.0% during the first quarter. Citigroup Inc. now owns 18,625 shares of the specialty retailer’s stock worth $535,000 after purchasing an additional 116,837 shares during the period. Millennium Management LLC grew its stake in MarineMax by 58.2% during the second quarter. Millennium Management LLC now owns 310,900 shares of the specialty retailer’s stock worth $11,230,000 after purchasing an additional 114,397 shares during the period. Finally, Levin Capital Strategies L.P. increased its holdings in MarineMax by 19.1% in the third quarter. Levin Capital Strategies L.P. now owns 708,439 shares of the specialty retailer’s stock worth $23,251,000 after purchasing an additional 113,850 shares in the last quarter. 92.85% of the stock is owned by institutional investors.

MarineMax Price Performance

MarineMax stock opened at $26.69 on Friday. MarineMax, Inc. has a 52 week low of $25.60 and a 52 week high of $42.88. The company’s 50 day moving average price is $30.79 and its two-hundred day moving average price is $31.66. The stock has a market cap of $595.19 million, a P/E ratio of 6.61 and a beta of 1.69. The company has a quick ratio of 0.35, a current ratio of 1.28 and a debt-to-equity ratio of 0.41.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, January 25th. The specialty retailer reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.37). The business had revenue of $527.30 million for the quarter, compared to the consensus estimate of $524.76 million. MarineMax had a return on equity of 10.44% and a net margin of 3.75%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 earnings per share. On average, equities analysts predict that MarineMax, Inc. will post 3.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HZO shares. DA Davidson reissued a “buy” rating and set a $34.00 target price on shares of MarineMax in a research report on Friday, March 15th. Truist Financial increased their price objective on MarineMax from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Finally, StockNews.com downgraded MarineMax from a “hold” rating to a “sell” rating in a report on Saturday, January 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Insider Activity at MarineMax

In other MarineMax news, Director Clint Moore sold 4,000 shares of MarineMax stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $31.12, for a total value of $124,480.00. Following the sale, the director now owns 20,544 shares of the company’s stock, valued at $639,329.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Charles A. Cashman sold 7,500 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $29.76, for a total transaction of $223,200.00. Following the completion of the transaction, the executive vice president now owns 63,981 shares in the company, valued at approximately $1,904,074.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Clint Moore sold 4,000 shares of MarineMax stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $31.12, for a total value of $124,480.00. Following the completion of the sale, the director now directly owns 20,544 shares of the company’s stock, valued at approximately $639,329.28. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.

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.