OneSpaWorld (NASDAQ:OSW) Shares Gap Down – Here’s What Happened

OneSpaWorld Holdings Limited (NASDAQ:OSW) shares gapped down prior to trading on Tuesday. The stock had previously closed at $23.62, but opened at $22.96. OneSpaWorld shares last traded at $23.0320, with a volume of 19,414 shares changing hands.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of OneSpaWorld in a research report on Friday, July 31st. Jefferies Financial Group lifted their price target on OneSpaWorld from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Truist Financial upped their price objective on OneSpaWorld from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Stifel Nicolaus increased their price objective on OneSpaWorld from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $30.60.

OneSpaWorld Stock Performance

The stock’s 50-day moving average price is $24.33 and its 200-day moving average price is $24.69. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 29.42 and a beta of 0.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.93 and a current ratio of 2.91.

OneSpaWorld (NASDAQ:OSW) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. OneSpaWorld had a return on equity of 18.36% and a net margin of 8.02%.The business had revenue of $261.25 million for the quarter, compared to analysts’ expectations of $260.93 million. During the same quarter in the prior year, the firm posted $0.19 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts expect that OneSpaWorld Holdings Limited will post 1.05 earnings per share for the current year.

OneSpaWorld Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a $0.05 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.9%. OneSpaWorld’s dividend payout ratio (DPR) is currently 25.32%.

Insider Activity

In other news, Director Andrew Heyer sold 25,219 shares of OneSpaWorld stock in a transaction on Friday, August 7th. The stock was sold at an average price of $26.42, for a total transaction of $666,285.98. Following the completion of the transaction, the director owned 306,926 shares of the company’s stock, valued at $8,108,984.92. The trade was a 7.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 60,000 shares of company stock worth $1,583,927. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On OneSpaWorld

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in OneSpaWorld during the second quarter worth about $278,024,000. Bank of America Corp DE purchased a new position in shares of OneSpaWorld during the 2nd quarter worth approximately $119,564,000. Reinhart Partners LLC. raised its position in shares of OneSpaWorld by 2.0% during the 2nd quarter. Reinhart Partners LLC. now owns 3,962,810 shares of the company’s stock worth $111,910,000 after purchasing an additional 78,022 shares during the last quarter. Wellington Management Group LLP raised its position in shares of OneSpaWorld by 25.1% during the 2nd quarter. Wellington Management Group LLP now owns 2,709,623 shares of the company’s stock worth $76,520,000 after purchasing an additional 543,027 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of OneSpaWorld by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,335,346 shares of the company’s stock worth $53,590,000 after purchasing an additional 27,309 shares during the last quarter. 95.98% of the stock is owned by institutional investors and hedge funds.

About OneSpaWorld

OneSpaWorld Holdings Limited is a global provider of health, wellness and beauty services. The company operates spas, salons, fitness centers and wellness facilities, offering services such as massages, facials, hair and nail treatments, fitness programs, thermal experiences and related personal-care services.

OneSpaWorld primarily delivers these services onboard cruise ships and at destination resorts. Its operations serve travelers in major cruise and leisure markets around the world, including North America, Europe, the Caribbean, Asia-Pacific and other international destinations.