Bank of America Corp DE Invests $119.56 Million in OneSpaWorld Holdings Limited $OSW

Key Points

• Bank of America acquired a new 4.23 million-share stake in OneSpaWorld during the second quarter, valued at approximately $119.6 million and representing 4.17% of the company. Institutional investors collectively own 95.98% of OSW.
• OneSpaWorld reported stronger quarterly results, with earnings of $0.29 per share and revenue of $261.25 million, while revenue increased 8.5% year over year. The company also paid a quarterly dividend of $0.05 per share.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and a $30.60 price target, although an insider recently sold 25,219 shares and insiders have sold $1.58 million of stock over the past 90 days.

Bank of America Corp DE acquired a new stake in OneSpaWorld Holdings Limited (NASDAQ:OSW - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,233,840 shares of the company's stock, valued at approximately $119,564,000. Bank of America Corp DE owned 4.17% of OneSpaWorld as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of OSW. Jupiter Topco LLC acquired a new stake in shares of OneSpaWorld in the 2nd quarter valued at approximately $1,241,000. Hsbc Holdings PLC bought a new stake in shares of OneSpaWorld in the 2nd quarter valued at about $300,000. Palisade Capital Management LP acquired a new stake in OneSpaWorld during the 2nd quarter valued at approximately $17,382,000. Legal & General Group Plc acquired a new stake in shares of OneSpaWorld during the second quarter worth $6,562,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of OneSpaWorld in the 2nd quarter worth about $1,197,000. 95.98% of the stock is currently owned by institutional investors.

OneSpaWorld Trading Up 0.2%

Shares of OneSpaWorld stock opened at $21.87 on Friday. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 27.68 and a beta of 0.90. The company has a current ratio of 2.91, a quick ratio of 1.93 and a debt-to-equity ratio of 0.14. The company's 50-day moving average price is $25.12 and its 200-day moving average price is $24.52. OneSpaWorld Holdings Limited has a 12-month low of $19.06 and a 12-month high of $29.25.

OneSpaWorld (NASDAQ:OSW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $261.25 million for the quarter, compared to analysts' expectations of $260.93 million. OneSpaWorld had a net margin of 8.02% and a return on equity of 18.36%. OneSpaWorld's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share. On average, equities analysts expect that OneSpaWorld Holdings Limited will post 1.05 earnings per share for the current fiscal year.

OneSpaWorld Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.9%. OneSpaWorld's dividend payout ratio is 25.32%.

Insider Activity at OneSpaWorld

In related news, Director Andrew Heyer sold 25,219 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $26.42, for a total transaction of $666,285.98. Following the transaction, the director owned 306,926 shares of the company's stock, valued at approximately $8,108,984.92. This trade represents a 7.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 60,000 shares of company stock worth $1,583,927. 3.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wall Street Zen downgraded OneSpaWorld from a "buy" rating to a "hold" rating in a research note on Saturday, May 23rd. Stifel Nicolaus raised their price objective on OneSpaWorld from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Jefferies Financial Group raised their price objective on OneSpaWorld from $31.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. Weiss Ratings reissued a "buy (b)" rating on shares of OneSpaWorld in a research report on Friday, July 31st. Finally, Truist Financial lifted their price target on shares of OneSpaWorld from $28.00 to $29.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $30.60.

OneSpaWorld Profile

OneSpaWorld Holdings Limited NASDAQ: OSW provides health, wellness and beauty services primarily to the cruise and resort industries. The company operates spas, salons, fitness centers and wellness facilities, offering services such as massages, facials, beauty treatments, hair and nail care, fitness programs and other personal-care experiences.

Its operations also include medi-spa and wellness services, retail sales of skincare and beauty products, and related programs designed for vacation and leisure environments.

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