OneWater Marine Inc. (NASDAQ:ONEW) Receives Consensus Recommendation of “Hold” from Brokerages

OneWater Marine Inc. (NASDAQ:ONEW) has been assigned a consensus recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $17.00.

Several research firms recently weighed in on ONEW. Zacks Research upgraded shares of OneWater Marine from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of OneWater Marine in a research report on Thursday, January 22nd.

OneWater Marine Price Performance

OneWater Marine stock opened at $8.39 on Friday. The stock has a market cap of $139.36 million, a price-to-earnings ratio of -1.24 and a beta of 1.68. The company has a quick ratio of 0.26, a current ratio of 1.13 and a debt-to-equity ratio of 1.18. The business has a 50-day simple moving average of $12.12 and a 200 day simple moving average of $13.25. OneWater Marine has a 52 week low of $8.12 and a 52 week high of $18.15.

OneWater Marine (NASDAQ:ONEW) last released its quarterly 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. The firm had revenue of $380.56 million for the quarter, compared to analysts’ expectations 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, research analysts forecast that OneWater Marine will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at OneWater Marine

In related news, Chairman Philip Austin Jr. Singleton acquired 18,008 shares of the stock in a transaction dated Thursday, February 12th. The shares were purchased at an average price of $12.52 per share, for a total transaction of $225,460.16. Following the transaction, the chairman owned 779,776 shares in the company, valued at $9,762,795.52. This represents a 2.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its position in OneWater Marine by 63.8% during the fourth quarter. Empowered Funds LLC now owns 47,625 shares of the company’s stock valued at $515,000 after purchasing an additional 18,555 shares in the last quarter. Man Group plc bought a new stake in OneWater Marine during the fourth quarter worth about $139,000. Manatuck Hill Partners LLC purchased a new position in shares of OneWater Marine in the 4th quarter worth about $462,000. Bridgeway Capital Management LLC increased its position in shares of OneWater Marine by 46.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 87,825 shares of the company’s stock valued at $950,000 after purchasing an additional 27,955 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of OneWater Marine by 22.8% during the 4th quarter. AQR Capital Management LLC now owns 31,906 shares of the company’s stock valued at $345,000 after purchasing an additional 5,914 shares during the last quarter. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

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.