Raymond James Financial Inc. Invests $572,000 in MarineMax, Inc. (NYSE:HZO)

Raymond James Financial Inc. bought a new stake in MarineMax, Inc. (NYSE:HZO) during the fourth quarter, Holdings Channel reports. The firm bought 19,742 shares of the specialty retailer’s stock, valued at approximately $572,000.

A number of other hedge funds also recently bought and sold shares of the company. Invesco Ltd. boosted its stake in MarineMax by 17.3% during the 4th quarter. Invesco Ltd. now owns 347,481 shares of the specialty retailer’s stock valued at $10,060,000 after purchasing an additional 51,352 shares during the period. Oliver Luxxe Assets LLC acquired a new position in shares of MarineMax during the fourth quarter worth approximately $1,316,000. Acuitas Investments LLC boosted its position in shares of MarineMax by 9.3% in the fourth quarter. Acuitas Investments LLC now owns 83,800 shares of the specialty retailer’s stock valued at $2,426,000 after acquiring an additional 7,131 shares during the period. SWS Partners acquired a new stake in shares of MarineMax in the fourth quarter worth $595,000. Finally, Smartleaf Asset Management LLC raised its stake in MarineMax by 211.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,558 shares of the specialty retailer’s stock valued at $43,000 after purchasing an additional 1,058 shares during the last quarter. 92.85% of the stock is currently owned by institutional investors.

MarineMax Stock Up 4.7 %

Shares of NYSE HZO opened at $21.95 on Friday. The business has a fifty day moving average of $21.47 and a two-hundred day moving average of $26.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.24 and a current ratio of 1.19. MarineMax, Inc. has a 52-week low of $16.85 and a 52-week high of $38.20. The stock has a market cap of $471.38 million, a PE ratio of 9.22 and a beta of 1.69.

MarineMax (NYSE:HZO) last released its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07. MarineMax had a net margin of 2.33% and a return on equity of 4.96%. The firm had revenue of $631.52 million for the quarter, compared to analyst estimates of $580.12 million. During the same period in the previous year, the business earned $0.18 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts expect that MarineMax, Inc. will post 2.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of MarineMax in a research note on Friday, January 24th. StockNews.com upgraded MarineMax from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Truist Financial reduced their target price on MarineMax from $38.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, April 14th. B. Riley upgraded shares of MarineMax to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, DA Davidson dropped their price objective on shares of MarineMax from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $38.50.

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.