Assenagon Asset Management SA increases its equity position in MarineMax, Inc. (NYSE:HZO)


Assenagon Asset Management SA increased its stake in MarineMax, Inc. (NYSE: HZOGet a rating) by 0.8% in the 1st quarter, Participation channel reports. The company held 76,695 shares of the specialty retailer after buying an additional 598 shares during the quarter. Assenagon Asset Management SA’s holdings in MarineMax were worth $3,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also changed their positions in the company. Addison Advisors LLC purchased a new equity stake in MarineMax in the fourth quarter valued at approximately $30,000. Point72 Hong Kong Ltd increased its position in MarineMax shares by 191.8% in the fourth quarter. Point72 Hong Kong Ltd now owns 642 shares of the specialty retailer valued at $38,000 after buying an additional 422 shares in the last quarter. Lazard Asset Management LLC raised its position in MarineMax shares by 16.8% in the fourth quarter. Lazard Asset Management LLC now owns 1,610 shares of the specialty retailer valued at $95,000 after buying 232 additional shares in the last quarter. Denali Advisors LLC increased its position in MarineMax shares by 150.0% in the fourth quarter. Denali Advisors LLC now owns 2,000 shares of the specialty retailer valued at $118,000 after buying an additional 1,200 shares in the last quarter. Finally, Alterna Wealth Management Inc. acquired a new position in shares of MarineMax in the fourth quarter valued at approximately $218,000. 97.68% of the shares are currently held by institutional investors.

A number of stock analysts have weighed in on HZO shares recently. StockNews.com began covering MarineMax shares in a research report on Thursday, March 31. They issued a “buy” rating for the company. Citigroup lowered its price target on MarineMax shares from $52.00 to $42.00 and set a “neutral” rating for the company in a Tuesday, April 19 research report. DA Davidson began covering MarineMax shares in a research report on Tuesday, April 26. They set a “buy” rating and a price target of $48.00 for the company. Northcoast Research reaffirmed a “buy” rating on MarineMax shares in a Tuesday, May 17 research report. Finally, B. Riley downgraded MarineMax shares from a “buy” rating to a “neutral” rating and lowered his price target for the stock from $84.00 to $44.00 in a research report Tuesday, June 21. Two investment analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat.com, MarineMax has a consensus rating of “Moderate Buy” and an average target price of $51.60.

Marine Max stock opened at $39.12 on Wednesday. MarineMax, Inc. has a 52-week low of $35.10 and a 52-week high of $61.06. The company has a fifty-day moving average of $40.02 and a 200-day moving average of $43.81. The company has a market capitalization of $842.25 million, a P/E ratio of 4.89 and a beta of 1.60. The company has a quick ratio of 0.81, a current ratio of 1.70 and a debt ratio of 0.07.

Marine Max (NYSE: HZOGet a rating) last released its quarterly earnings data on Thursday, April 28. The specialty retailer reported earnings per share (EPS) of $2.37 for the quarter, beating the consensus estimate of $1.70 by $0.67. MarineMax had a net margin of 8.23% and a return on equity of 29.39%. The company posted revenue of $610.10 million in the quarter, compared to analyst estimates of $541.34 million. In the same quarter a year earlier, the company had earned earnings per share of $1.69. The company’s quarterly revenue increased by 16.6% compared to the same quarter last year. On average, research analysts expect MarineMax, Inc. to post EPS of 8.24 for the current fiscal year.

About MarineMax (Get a rating)

MarineMax, Inc operates as a pleasure boat and yacht retailer and superyacht service company in the United States. It operates through two segments, Retail Operations and Product Manufacturing. The Company sells new and used pleasure boats, including pleasure and fishing boats, mega-yachts, yachts, sports cruisers, motor yachts, pontoon boats, ski boats, jets and other pleasure craft.

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Institutional ownership by quarter for MarineMax (NYSE:HZO)



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