Insider Buying: OneWater Marine (NASDAQ:ONEW) Chairman Acquires 18,008 Shares of Stock

OneWater Marine Inc. (NASDAQ:ONEW) Chairman Philip Austin Jr. Singleton acquired 18,008 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were bought at an average price of $12.52 per share, with a total value of $225,460.16. Following the completion of the purchase, the chairman owned 779,776 shares in the company, valued at $9,762,795.52. This trade represents a 2.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Philip Austin Jr. Singleton also recently made the following trade(s):

• On Wednesday, February 11th, Philip Austin Jr. Singleton bought 6,345 shares of OneWater Marine stock. The shares were purchased at an average price of $12.93 per share, for a total transaction of $82,040.85.

OneWater Marine Price Performance

NASDAQ:ONEW traded down $0.33 during trading hours on Friday, hitting $11.98. 207,824 shares of the stock traded hands, compared to its average volume of 185,656. The company has a market cap of $198.03 million, a price-to-earnings ratio of -1.78 and a beta of 1.67. OneWater Marine Inc. has a 1 year low of $10.14 and a 1 year high of $21.00. The stock has a 50 day moving average price of $12.33 and a 200 day moving average price of $14.23. The company has a quick ratio of 0.28, a current ratio of 1.13 and a debt-to-equity ratio of 1.18.

OneWater Marine (NASDAQ:ONEW) last announced its quarterly earnings data on Thursday, January 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.35. The firm had revenue of $380.56 million during the quarter, compared to analysts’ expectations of $380.32 million. OneWater Marine had a negative net margin of 5.88% and a positive return on equity of 4.32%. Sell-side analysts forecast that OneWater Marine Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ONEW has been the topic of several research analyst reports. Zacks Research raised OneWater Marine from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of OneWater Marine in a research note on Thursday, January 22nd. KeyCorp lowered their price target on OneWater Marine from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, November 14th. 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 issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in shares of OneWater Marine by 94.4% in the third quarter. BNP Paribas Financial Markets now owns 2,872 shares of the company’s stock worth $45,000 after purchasing an additional 1,395 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in OneWater Marine during the 4th quarter valued at approximately $82,000. AlphaQuest LLC grew its holdings in OneWater Marine by 20.8% during the 2nd quarter. AlphaQuest LLC now owns 8,097 shares of the company’s stock valued at $108,000 after buying an additional 1,392 shares in the last quarter. JPMorgan Chase & Co. increased 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 last quarter. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of OneWater Marine during the 3rd quarter worth approximately $192,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.

OneWater Marine Company Profile

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.