Mackay Shields LLC Invests $640,000 in MarineMax Inc (NYSE:HZO)

Mackay Shields LLC purchased a new position in MarineMax Inc (NYSE:HZO) during the first quarter, HoldingsChannel.com reports. The fund purchased 61,400 shares of the specialty retailer’s stock, valued at approximately $640,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in MarineMax in the 4th quarter valued at approximately $28,000. Aigen Investment Management LP bought a new position in MarineMax in the 4th quarter valued at approximately $30,000. Bank of Montreal Can lifted its position in MarineMax by 30.7% in the 4th quarter. Bank of Montreal Can now owns 3,466 shares of the specialty retailer’s stock valued at $57,000 after acquiring an additional 814 shares in the last quarter. First Quadrant L P CA bought a new position in MarineMax in the 1st quarter valued at approximately $57,000. Finally, Cornerstone Investment Partners LLC bought a new position in MarineMax in the 1st quarter valued at approximately $137,000. 83.16% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:HZO opened at $19.49 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.38 and a quick ratio of 0.25. The firm has a market capitalization of $443.24 million, a price-to-earnings ratio of 11.10 and a beta of 1.74. MarineMax Inc has a one year low of $7.24 and a one year high of $23.15. The business has a fifty day moving average price of $14.23 and a 200-day moving average price of $15.67.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, April 23rd. The specialty retailer reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The firm had revenue of $308.48 million during the quarter, compared to analyst estimates of $302.96 million. MarineMax had a return on equity of 11.02% and a net margin of 3.06%. MarineMax’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 EPS. On average, equities research analysts expect that MarineMax Inc will post 1.25 earnings per share for the current fiscal year.

HZO has been the topic of several analyst reports. Raymond James upped their price objective on MarineMax from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. SunTrust Banks increased their price target on MarineMax from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, April 24th. Zacks Investment Research raised MarineMax from a “strong sell” rating to a “hold” rating in a report on Thursday. B. Riley reissued a “buy” rating and set a $24.00 price target (up from $19.00) on shares of MarineMax in a report on Tuesday. Finally, Craig Hallum raised MarineMax from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Monday, April 20th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $19.43.

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, such as sport boats, sport cruisers, sport yachts, and other yachts; fishing boats; motor and convertible yachts; pontoon boats; fishing boats; ski boats; and jet boats.

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