Goldman Sachs Group Inc. Decreases Holdings in MarineMax, Inc. (HZO)

Goldman Sachs Group Inc. trimmed its position in shares of MarineMax, Inc. (NYSE:HZO) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,318 shares of the specialty retailer’s stock after selling 1,788 shares during the period. Goldman Sachs Group Inc. owned approximately 0.35% of MarineMax worth $1,609,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in HZO. Ameriprise Financial Inc. lifted its stake in MarineMax by 3.7% during the first quarter. Ameriprise Financial Inc. now owns 129,786 shares of the specialty retailer’s stock worth $2,810,000 after purchasing an additional 4,581 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in MarineMax by 9.1% during the first quarter. Parametric Portfolio Associates LLC now owns 60,649 shares of the specialty retailer’s stock worth $1,313,000 after purchasing an additional 5,064 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in MarineMax by 75.6% during the first quarter. JPMorgan Chase & Co. now owns 42,767 shares of the specialty retailer’s stock worth $926,000 after purchasing an additional 18,415 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in MarineMax by 2.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 8,880 shares of the specialty retailer’s stock worth $192,000 after purchasing an additional 240 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in MarineMax by 11.0% during the first quarter. OppenheimerFunds Inc. now owns 32,966 shares of the specialty retailer’s stock worth $713,000 after purchasing an additional 3,265 shares in the last quarter. Institutional investors own 90.57% of the company’s stock.

MarineMax (NYSE:HZO) last posted its earnings results on Tuesday, October 31st. The specialty retailer reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.11. The business had revenue of $250.62 million for the quarter, compared to analyst estimates of $231.96 million. MarineMax had a net margin of 2.24% and a return on equity of 7.82%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS.

MarineMax announced that its board has authorized a stock buyback program on Wednesday, August 2nd that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the specialty retailer to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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HZO has been the topic of a number of recent research reports. B. Riley reaffirmed a “buy” rating and set a $20.00 price objective on shares of MarineMax in a research report on Friday, July 21st. TheStreet lowered MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. BidaskClub lowered MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Forward View lowered MarineMax from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Citigroup Inc. upped their price objective on MarineMax from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.67.

In other MarineMax news, Director Dean S. Woodman sold 2,500 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $17.00, for a total value of $42,500.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Dean S. Woodman sold 3,000 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $15.00, for a total transaction of $45,000.00. Following the completion of the transaction, the director now owns 15,193 shares in the company, valued at approximately $227,895. The disclosure for this sale can be found here. Insiders have sold a total of 10,500 shares of company stock worth $167,500 in the last 90 days. Company insiders own 5.00% of the company’s stock.

About MarineMax

MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.

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Institutional Ownership by Quarter for MarineMax (NYSE:HZO)

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