MarineMax, Inc. (NYSE:HZO) Short Interest Down 10.2% in October

MarineMax, Inc. (NYSE:HZO) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,680,000 shares, a drop of 10.2% from the October 15th total of 1,870,000 shares. Approximately 8.6% of the shares of the company are sold short. Based on an average daily volume of 237,700 shares, the days-to-cover ratio is currently 7.1 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings 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 acquiring an additional 110,601 shares during the period. Millennium Management LLC increased its position in shares of MarineMax by 22.7% during the 2nd quarter. Millennium Management LLC now owns 401,978 shares of the specialty retailer’s stock worth $13,012,000 after purchasing an additional 74,451 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of MarineMax by 60.0% during the 2nd quarter. Victory Capital Management Inc. now owns 55,243 shares of the specialty retailer’s stock worth $1,788,000 after purchasing an additional 20,724 shares during the last quarter. Sei Investments Co. increased its position in shares of MarineMax by 1.6% during the 1st quarter. Sei Investments Co. now owns 301,781 shares of the specialty retailer’s stock worth $10,037,000 after purchasing an additional 4,825 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of MarineMax by 342.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 29,785 shares of the specialty retailer’s stock worth $964,000 after purchasing an additional 23,057 shares during the last quarter. Hedge funds and other institutional investors own 92.85% of the company’s stock.

MarineMax Price Performance

Shares of NYSE:HZO traded down $0.37 during midday trading on Tuesday, reaching $29.03. 29,205 shares of the company’s stock traded hands, compared to its average volume of 304,196. MarineMax has a 1 year low of $22.51 and a 1 year high of $39.85. The company has a market cap of $655.79 million, a P/E ratio of 17.83 and a beta of 1.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.34 and a current ratio of 1.19. The company has a fifty day simple moving average of $31.88 and a two-hundred day simple moving average of $31.47.

MarineMax (NYSE:HZO) last announced its quarterly earnings data on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. The company had revenue of $563.10 million for the quarter, compared to analyst estimates of $576.49 million. During the same quarter last year, the firm posted $0.69 EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities analysts predict that MarineMax will post 2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HZO has been the topic of a number of analyst reports. Truist Financial raised their price objective on shares of MarineMax from $35.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Benchmark initiated coverage on shares of MarineMax in a research note on Tuesday, October 15th. They set a “buy” rating and a $40.00 price objective on the stock. StockNews.com cut shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, September 3rd. Citigroup raised shares of MarineMax from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $44.00 in a research note on Monday, September 9th. Finally, DA Davidson increased their target price on MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.83.

MarineMax Company 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.