HZO Surges 5% As Board Greenlights Sale Amid Private Equity Bids

• The decision follows a potential buyer recently hiking their offer, the report said, while adding that at least one prominent private equity firm ‌is conducting due diligence.
• In February, Donerail Group publicly proposed acquiring MarineMax for $35 per share.
• Reuters reported, citing sources, that Donerail has since increased its initial offer.

Shares of MarineMax (HZO) jumped 5% on Thursday following reports that the firm is preparing to sell itself amid heightened bidder interest.

Reuters reported on the sales plan on Thursday, citing people familiar with the matter. The decision follows a potential buyer recently hiking their offer, the report said, while adding that at least one prominent private equity firm ‌is conducting due diligence.

The recreational boat and yacht retailer’s board of directors reportedly came to the decision to sell the company in April, months after activist investor Donerail ​Group began pushing for a sale or for a leadership change.

In February, Donerail Group publicly proposed acquiring MarineMax for $35 per share. Subsequent reports indicated interest from major private-equity firms, including Blackstone and TPG.

Reuters reported, citing sources, that Donerail has since increased its initial offer. The investor owns 5% stake in MarineMax. Details on the updated offer aren't available, the report noted.

Blackstone Group, meanwhile, is reviewing documents to buy MarineMax, the report added. While the company is moving towards a sale, a deal is not guaranteed, sources told Reuters.

MarineMax Q2 Earnings

MarineMax reported Q2 fiscal 2026 results in late April.

Revenue fell 16.5% year-over-year to $527.4 million, missing Wall Street estimates amid softer consumer demand for new and used boats. However, the company posted a beat on adjusted earnings per share and delivered a standout gross margin of 34.4% — up 440 basis points from the prior year. The margin expansion was driven by a higher mix of recurring, higher-margin revenue streams, including superyacht services, marinas, finance and insurance, and parts and service.

Management reaffirmed its full-year fiscal 2026 guidance, calling for adjusted EBITDA of $110 million to $125 million and adjusted net income of $0.40 to $0.95 per diluted share.

According to data from Koyfin, seven of the nine analysts covering HZO rate it ‘Buy’ while two rate it ‘Hold.’ The 12-month average price target on the stock is $35.29, representing a potential upside of about 13% from the last close.

How Did HZO retail Traders React?

On Stocktwits, retail sentiment around HZO stock stayed within the ‘Neutral’ territory over the past 24 hours, while message volume remained at ‘low’ levels.

HZO stock has gained about 54% over the past 12 months. 

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