Royce & Associates LP Boosts Stake in OneWater Marine Inc. (NASDAQ:ONEW)

Royce & Associates LP lifted its holdings in OneWater Marine Inc. (NASDAQ:ONEW) by 13.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,853,788 shares of the company’s stock after purchasing an additional 216,410 shares during the quarter. Royce & Associates LP owned 11.37% of OneWater Marine worth $32,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Barclays PLC increased its position in OneWater Marine by 267.9% during the third quarter. Barclays PLC now owns 15,677 shares of the company’s stock valued at $375,000 after acquiring an additional 11,416 shares during the last quarter. Geode Capital Management LLC increased its position in OneWater Marine by 11.4% during the third quarter. Geode Capital Management LLC now owns 293,831 shares of the company’s stock valued at $7,028,000 after acquiring an additional 29,952 shares during the last quarter. State Street Corp increased its position in OneWater Marine by 0.5% during the third quarter. State Street Corp now owns 226,038 shares of the company’s stock valued at $5,405,000 after acquiring an additional 1,131 shares during the last quarter. FMR LLC increased its position in OneWater Marine by 332.5% during the third quarter. FMR LLC now owns 4,308 shares of the company’s stock valued at $103,000 after acquiring an additional 3,312 shares during the last quarter. Finally, Rhumbline Advisers increased its position in OneWater Marine by 3.6% during the fourth quarter. Rhumbline Advisers now owns 19,420 shares of the company’s stock valued at $338,000 after acquiring an additional 683 shares during the last quarter. Hedge funds and other institutional investors own 94.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ONEW. KeyCorp reduced their price objective on OneWater Marine from $27.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. DA Davidson reduced their price objective on OneWater Marine from $27.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. Stifel Nicolaus cut their price target on OneWater Marine from $31.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Finally, Truist Financial cut their price target on OneWater Marine from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, OneWater Marine currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

OneWater Marine Stock Performance

NASDAQ:ONEW opened at $16.10 on Friday. The stock has a 50-day simple moving average of $17.10 and a two-hundred day simple moving average of $20.06. OneWater Marine Inc. has a 52-week low of $14.13 and a 52-week high of $31.36. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.25 and a current ratio of 1.24. The firm has a market capitalization of $262.64 million, a PE ratio of -22.36 and a beta of 2.59.

OneWater Marine (NASDAQ:ONEW) last released its quarterly earnings data on Thursday, January 30th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.30. OneWater Marine had a positive return on equity of 3.09% and a negative net margin of 0.59%. Analysts forecast that OneWater Marine Inc. will post 1.57 EPS for the current year.

Insider Transactions at OneWater Marine

In other OneWater Marine news, CEO Philip Austin Jr. Singleton acquired 15,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $15.40 per share, with a total value of $231,000.00. Following the completion of the purchase, the chief executive officer now directly owns 682,368 shares in the company, valued at approximately $10,508,467.20. The trade was a 2.25 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 20.30% of the company’s stock.

OneWater Marine Company Profile

OneWater Marine Inc operates as a recreational boat retailer in the United States. The company offers new and pre-owned recreational boats and yachts, as well as related marine products, such as parts and accessories. It provides boat repair and maintenance services. In addition, the company arranges boat financing and insurance; and other ancillary services, including indoor and outdoor storage, and marina services.