MarineMax, Inc. (NYSE: HZO) shares started Wednesday much stronger. The company that calls itself the world’s largest recreational boat and yacht retailer, marina operator and superyacht services company, today announced that its Board of Directors has approved a new stock repurchase plan.
Under the new plan, the Company is authorized to repurchase up to $100 million of its common stock beginning today through March 2028. This plan replaces the March 2024 Plan, which authorized MarineMax to purchase up to $100 million of its common stock through March 2026.
Approximately 1.4 million shares of the Company’s common stock had been repurchased under the 2024 Plan as of March 3, 2026.
The new plan allows MarineMax to purchase common stock from time to time in the open market or in privately negotiated block purchase transactions. The Company intends to repurchase shares to mitigate the dilutive effect of restricted stock, and shares repurchased may be reserved for later reissue in connection with employee benefit plans and other general corporate purposes. The number of shares purchased and the timing of any purchases is based upon a number of factors, including the price and availability of the Company’s stock, general market conditions, the nature of other investment opportunities available to the Company from time to time, and the availability of cash.
As of March 3, 2026, the Company had 22,027,414 shares of common stock outstanding.
HZO shares climbed 53 cents, or 1.8%, to $30.30.
