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

Royce & Associates LP trimmed its position in shares of OneWater Marine Inc. (NASDAQ:ONEW) by 6.5% during the third quarter, Holdings Channel reports. The firm owned 1,383,187 shares of the company’s stock after selling 96,841 shares during the quarter. Royce & Associates LP owned about 0.08% of OneWater Marine worth $21,910,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ONEW. AlphaQuest LLC grew its holdings in shares of OneWater Marine by 20.8% during the second quarter. AlphaQuest LLC now owns 8,097 shares of the company’s stock worth $108,000 after buying an additional 1,392 shares in the last quarter. JPMorgan Chase & Co. grew its stake in OneWater Marine by 50.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,129 shares of the company’s stock worth $129,000 after acquiring an additional 2,710 shares during the period. Brevan Howard Capital Management LP acquired a new stake in shares of OneWater Marine during the second quarter worth $222,000. Raymond James Financial Inc. grew its holdings in OneWater Marine by 94.7% in the 2nd quarter. Raymond James Financial Inc. now owns 20,948 shares of the company’s stock valued at $280,000 after buying an additional 10,189 shares during the period. Finally, AQR Capital Management LLC purchased a new stake in OneWater Marine in the first quarter valued at approximately $345,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Philip Austin Jr. Singleton bought 18,008 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were bought at an average cost of $12.52 per share, for a total transaction of $225,460.16. Following the completion of the acquisition, the chairman directly owned 779,776 shares in the company, valued at approximately $9,762,795.52. This represents a 2.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ONEW. KeyCorp dropped their target price 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 reiterated a “sell (d-)” rating on shares of OneWater Marine in a research note on Thursday, January 22nd. Zacks Research upgraded shares of OneWater Marine from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Benchmark reaffirmed a “hold” rating on shares of OneWater Marine in a report on Friday, November 14th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, OneWater Marine presently has a consensus rating of “Hold” and an average target price of $17.00.

OneWater Marine Trading Down 6.6%

Shares of ONEW opened at $11.39 on Monday. OneWater Marine Inc. has a 1-year low of $10.14 and a 1-year high of $18.15. The business’s 50-day moving average price is $12.51 and its 200 day moving average price is $13.92. The company has a current ratio of 1.13, a quick ratio of 0.26 and a debt-to-equity ratio of 1.18. 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 released its earnings results on Thursday, January 29th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.35. OneWater Marine had a positive return on equity of 4.32% and a negative net margin of 5.88%.The company had revenue of $380.56 million for the quarter, compared to analysts’ expectations of $380.32 million. Analysts expect that OneWater Marine Inc. will post 1.57 earnings per share for the current year.

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.