OneWater Marine Inc. $ONEW Shares Sold by Royce & Associates LP

Royce & Associates LP reduced its position in OneWater Marine Inc. (NASDAQ:ONEW) by 6.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,383,187 shares of the company’s stock after selling 96,841 shares during the quarter. Royce & Associates LP owned about 8.45% of OneWater Marine worth $21,910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. AlphaQuest LLC boosted its position in shares of OneWater Marine by 20.8% in the 2nd quarter. AlphaQuest LLC now owns 8,097 shares of the company’s stock worth $108,000 after purchasing an additional 1,392 shares in the last quarter. JPMorgan Chase & Co. raised its stake in OneWater Marine by 50.0% in the third quarter. JPMorgan Chase & Co. now owns 8,129 shares of the company’s stock valued at $129,000 after buying an additional 2,710 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in OneWater Marine in the second quarter worth about $222,000. Raymond James Financial Inc. boosted its holdings in OneWater Marine by 94.7% in the second quarter. Raymond James Financial Inc. now owns 20,948 shares of the company’s stock worth $280,000 after acquiring an additional 10,189 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of OneWater Marine during the first quarter worth about $345,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.

OneWater Marine Trading Down 6.6%

NASDAQ ONEW opened at $11.39 on Monday. The firm’s 50-day moving average is $12.51 and its two-hundred day moving average is $13.92. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.13 and a quick ratio of 0.26. OneWater Marine Inc. has a 12 month low of $10.14 and a 12 month high of $18.15. The stock has a market capitalization of $189.19 million, a P/E ratio of -1.69 and a beta of 1.68.

OneWater Marine (NASDAQ:ONEW) last posted its earnings results on Thursday, January 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.35. The firm had revenue of $380.56 million for the quarter, compared to analyst estimates of $380.32 million. OneWater Marine had a positive return on equity of 4.32% and a negative net margin of 5.88%. On average, sell-side analysts anticipate that OneWater Marine Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Philip Austin Jr. Singleton bought 18,008 shares of OneWater Marine stock in a transaction dated Thursday, February 12th. The stock was acquired at an average cost of $12.52 per share, with a total value of $225,460.16. Following the acquisition, the chairman owned 779,776 shares of the company’s stock, valued at approximately $9,762,795.52. This trade represents a 2.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 19.50% of the company’s stock.

Analysts Set New Price Targets

ONEW has been the subject of several research analyst reports. KeyCorp decreased their price objective on shares of OneWater Marine from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OneWater Marine in a report on Thursday, January 22nd. Benchmark reiterated a “hold” rating on shares of OneWater Marine in a research note on Friday, November 14th. Finally, Zacks Research upgraded OneWater Marine from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.00.

About OneWater Marine

OneWater Marine Inc (NASDAQ: ONEW) is a leading U.S.-based recreational boat retailer offering a comprehensive range of marine products and services. Since its public debut in 2018, the company has built a broad network of locations that serve both coastal and inland markets. OneWater Marine focuses on delivering a full-service customer experience, from initial boat selection to long-term maintenance and support.

Through its dealership network, OneWater Marine markets new and pre-owned powerboats and personal watercraft from top manufacturers.