Private Management Group Inc. Cuts Stock Position in OneWater Marine Inc. (NASDAQ:ONEW)

Private Management Group Inc. decreased its stake in shares of OneWater Marine Inc. (NASDAQ:ONEW) by 16.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 529,988 shares of the company’s stock after selling 102,392 shares during the quarter. Private Management Group Inc.’s holdings in OneWater Marine were worth $9,211,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Royce & Associates LP increased its holdings in shares of OneWater Marine by 9.7% during the third quarter. Royce & Associates LP now owns 1,637,378 shares of the company’s stock valued at $39,150,000 after acquiring an additional 144,926 shares in the last quarter. Geode Capital Management LLC grew its position in OneWater Marine by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 293,831 shares of the company’s stock valued at $7,028,000 after purchasing an additional 29,952 shares during the last quarter. State Street Corp increased its stake in OneWater Marine by 0.5% during the 3rd quarter. State Street Corp now owns 226,038 shares of the company’s stock valued at $5,405,000 after purchasing an additional 1,131 shares in the last quarter. De Lisle Partners LLP raised its holdings in OneWater Marine by 7.4% in the third quarter. De Lisle Partners LLP now owns 58,043 shares of the company’s stock worth $1,390,000 after buying an additional 4,000 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of OneWater Marine by 267.9% in the third quarter. Barclays PLC now owns 15,677 shares of the company’s stock worth $375,000 after buying an additional 11,416 shares in the last quarter. 94.32% of the stock is owned by institutional investors.

OneWater Marine Stock Performance

ONEW stock opened at $18.89 on Thursday. The company has a market cap of $307.15 million, a P/E ratio of -26.24 and a beta of 2.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.28 and a quick ratio of 0.31. OneWater Marine Inc. has a 1 year low of $14.29 and a 1 year high of $31.36. The stock’s fifty day moving average price is $18.16 and its 200-day moving average price is $21.38.

OneWater Marine (NASDAQ:ONEW) last announced its earnings results on Thursday, January 30th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.30. OneWater Marine had a positive return on equity of 3.08% and a negative net margin of 0.59%. On average, equities analysts forecast that OneWater Marine Inc. will post 1.33 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Philip Austin Jr. Singleton acquired 13,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average price of $18.60 per share, with a total value of $241,800.00. Following the completion of the purchase, the chief executive officer now directly owns 667,368 shares of the company’s stock, valued at $12,413,044.80. This represents a 1.99 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Steven Roy acquired 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $19.05 per share, with a total value of $47,625.00. Following the completion of the purchase, the director now owns 20,760 shares in the company, valued at $395,478. This trade represents a 13.69 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 28,485 shares of company stock valued at $543,089. 20.30% of the stock is owned by insiders.

Analysts Set New Price Targets

ONEW has been the subject of several analyst reports. Truist Financial reduced their price target on shares of OneWater Marine from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. KeyCorp decreased their price target on OneWater Marine from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Benchmark reaffirmed a “hold” rating on shares of OneWater Marine in a research report on Friday, November 15th. Stifel Nicolaus decreased their target price on OneWater Marine from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Finally, DA Davidson lowered their target price on shares of OneWater Marine from $27.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, OneWater Marine presently has an average rating of “Moderate Buy” and an average price target of $23.75.

OneWater Marine 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.