In the third quarter, Acuitas Investments LLC reduced its holdings in MarineMax, Inc. by 81.1%, selling 85,384 shares and retaining just 19,897 shares at quarter end. This divestiture shrank Acuitas’s ownership to approximately 0.09% of total shares outstanding, representing a position valued at about $504,000 based on its most recent SEC filing. The magnitude of this sale marks one of the largest single-quarter reductions by a single institutional investor in MarineMax this fiscal year.

Several other large investors adjusted their positions in the same period. Levin Capital Strategies L.P. increased its stake by 44.5%, adding 225,992 shares to reach 734,279 shares valued at $18.46 million. Campbell & Co Investment Adviser LLC initiated a position of roughly $392,000, while Permanent Capital Management LP and Corient Private Wealth LLC opened new positions worth approximately $1.07 million and $2.78 million respectively. Private Management Group Inc. modestly increased its holding by 4.3%, acquiring 24,124 additional shares to total 583,220 shares valued at $14.66 million. Overall, institutional ownership stands at 92.85%.

For the quarter ended December 31, 2025, MarineMax reported revenue of $505.2 million, up 7.8% year-over-year, driven by a more than 10% rise in same-store sales. Gross profit margin compressed to 31.8% from 36.2% a year earlier, reflecting elevated promotional activity and mix shifts. The company posted a net loss of $7.9 million, or $0.36 per share, compared to net income of $18.1 million in the prior-year period. Adjusted EBITDA totaled $15.5 million, and inventories declined by $167.3 million from the prior year. Management reaffirmed full-year guidance for Adjusted EBITDA in the range of $110 million to $125 million and adjusted net income of $0.40 to $0.95 per share.