MarineMax Inc . (NYSE:HZO) Executive Vice President and Chief Revenue Officer Charles A. Cashman recently sold 12,500 shares of the company's common stock. The shares were sold on November 7 at a weighted average price of $32.08 per share, amounting to a total transaction value of approximately $401,000. Following the sale, Cashman retains ownership of 67,114 shares in the company. The transaction was executed through multiple trades, with prices ranging from $31.69 to $32.32.
In other recent news, MarineMax Incorporated reported mixed financial results in its Fiscal 2024 Fourth Quarter and Full Year Conference Call. The company saw a 2% increase in annual revenue, reaching $2.4 billion, despite the challenges posed by Hurricanes Helene and Milton. However, fourth-quarter revenue fell by 5%, a decline attributed to the hurricanes and insurance market closures. Gross margins remained strong at 34%, and SG&A expenses saw a decrease of over $5 million.
MarineMax also announced the acquisition of the Aviara brand and celebrated the achievements of IGY marinas. For Fiscal 2025, the company's guidance anticipates adjusted EBITDA between $150 million and $180 million, with adjusted net income per diluted share ranging from $1.80 to $2.80. Management expects flat same-store sales and consolidated margins in the low 30s for fiscal 2025.
These developments come amid a challenging fiscal year marked by natural disasters and a weak summer selling season. Despite these obstacles, MarineMax remains optimistic about recovery from storm losses and is exploring M&A opportunities, particularly in marinas and superyachts.
InvestingPro Insights
The recent stock sale by MarineMax's Executive VP and Chief Revenue Officer comes at a time when the company's financial metrics present a mixed picture. According to InvestingPro data, MarineMax's market capitalization stands at $690.75 million, with a P/E ratio of 18.12, suggesting a moderate valuation relative to earnings.
InvestingPro Tips highlight that MarineMax has seen a significant return over the last week, with a 11.68% price increase, and a strong 17.29% return over the last three months. This recent positive momentum might have influenced the timing of the insider sale.
However, it's worth noting that MarineMax operates with a significant debt burden, as pointed out by another InvestingPro Tip. This factor could be influencing the company's financial strategy and insider trading decisions.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights, with 10 more tips available for MarineMax. These tips could provide valuable context for understanding the company's financial health and market position.
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