Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

MarineMax Inc (HZO): Hedge Fund Ownership Surges 58% in Q3

Consequently, key money managers have jumped into MarineMax Inc (NYSE:HZO) headfirst. Renaissance Technologies, managed by Jim Simons, established the largest position in MarineMax Inc (NYSE:HZO). Renaissance Technologies had $1.4 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also initiated a $0.9 million position during the quarter. The other funds with new positions in the stock are Joel Greenblatt’s Gotham Asset Management, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, and Mike Vranos’ Ellington.

Let’s now take a look at hedge fund activity in other stocks similar to MarineMax Inc (NYSE:HZO). We will take a look at Tower International Inc (NYSE:TOWR), Celldex Therapeutics, Inc. (NASDAQ:CLDX), Donegal Group Inc (NASDAQ:DGICA), and Meta Financial Group Inc. (NASDAQ:CASH). All of these stocks’ market caps resemble HZO’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TOWR 13 67177 -3
CLDX 10 20218 -2
DGICA 3 5512 -1
CASH 16 95501 1

As you can see these stocks had an average of 10.5 hedge funds with bullish positions and the average amount invested in these stocks was $47 million. That figure was $64 million in HZO’s case. Meta Financial Group Inc. (NASDAQ:CASH) is the most popular stock in this table. On the other hand Donegal Group Inc (NASDAQ:DGICA) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks MarineMax Inc (NYSE:HZO) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, and that several major funds added the stock to their portfolios in Q3, it may be a good idea to analyze it in detail and potentially include it in your own portfolio.

Disclosure: None

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.