Principal Financial Group Inc. Sells 7,509 Shares of MarineMax, Inc. (NYSE:HZO)

Principal Financial Group Inc. reduced its stake in shares of MarineMax, Inc. (NYSE:HZO) by 7.5% in the third quarter, HoldingsChannel.com reports. The fund owned 92,725 shares of the specialty retailer’s stock after selling 7,509 shares during the quarter. Principal Financial Group Inc.’s holdings in MarineMax were worth $3,270,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. XTX Topco Ltd bought a new stake in MarineMax in the 3rd quarter worth approximately $236,000. Systematic Financial Management LP purchased a new position in shares of MarineMax during the third quarter worth approximately $183,000. RBF Capital LLC lifted its holdings in shares of MarineMax by 55.9% in the 3rd quarter. RBF Capital LLC now owns 93,544 shares of the specialty retailer’s stock worth $3,299,000 after acquiring an additional 33,544 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of MarineMax in the 3rd quarter valued at $143,000. Finally, Portolan Capital Management LLC bought a new position in shares of MarineMax during the 3rd quarter valued at $11,271,000. 92.85% of the stock is owned by institutional investors.

MarineMax Stock Performance

Shares of NYSE:HZO opened at $28.13 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.34 and a debt-to-equity ratio of 0.36. The company has a market cap of $635.60 million, a price-to-earnings ratio of 17.05 and a beta of 1.87. MarineMax, Inc. has a 12 month low of $22.51 and a 12 month high of $38.20. The company has a 50-day moving average price of $30.44 and a 200-day moving average price of $31.67.

MarineMax (NYSE:HZO) last released its quarterly earnings data on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.06. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. The business had revenue of $563.10 million during the quarter, compared to analysts’ expectations of $576.49 million. During the same quarter last year, the business posted $0.69 EPS. The business’s revenue was down 5.3% on a year-over-year basis. As a group, equities analysts anticipate that MarineMax, Inc. will post 2.33 EPS for the current year.

Analyst Upgrades and Downgrades

HZO has been the subject of several recent research reports. StockNews.com raised shares of MarineMax from a “sell” rating to a “hold” rating in a research note on Thursday, December 26th. Benchmark began coverage on MarineMax in a research note on Tuesday, October 15th. They issued a “buy” rating and a $40.00 target price for the company. Finally, Citigroup upgraded MarineMax from a “neutral” rating to a “buy” rating and raised their price target for the stock from $40.00 to $44.00 in a research report on Monday, September 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.83.

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.