Marantz Officials Offer No Clue to Stock Surge

Marantz reported Monday that it could not account for the heavy trading and sharp price increase in its stock last week.

Volume in Marantz, which trades on the New York Stock Exchange, was 327,800 shares during the past five trading days, equivalent to 14.25% of its outstanding stock. Trading slowed to 27,300 shares Monday and the stock closed at $6, off from $6.50 Friday but up from $4.37 1/2 on Oct. 13.

William Morris, chief financial officer of the Chatsworth-based home electronics company, said he knew of no reason for the activity. He said company officials haven’t been buying or selling stock, and that no announcements are planned other than the company’s third-quarter earnings report, which is due in about three weeks.

Morris wouldn’t disclose any new financial information, but acknowledged that the third-quarter figures are likely to be poor.

Buffeted by a weakening of the dollar against the yen and the bankruptcy-court filing of Pacific Stereo, a major customer, Marantz has been losing money despite increasing sales from its new line of videocassette recorders.

For the second quarter, Marantz lost $1.6 million, or 70 cents a share, on revenue of $7.2 million.