GAMMA Investing LLC Acquires 33,706 Shares of OneWater Marine Inc. (NASDAQ:ONEW)

GAMMA Investing LLC boosted its stake in OneWater Marine Inc. (NASDAQ:ONEW - Free Report) by 8,063.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,124 shares of the company's stock after purchasing an additional 33,706 shares during the quarter. GAMMA Investing LLC owned about 0.21% of OneWater Marine worth $552,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in shares of OneWater Marine during the 4th quarter valued at about $29,000. Wells Fargo & Company MN raised its position in shares of OneWater Marine by 27.0% during the 4th quarter. Wells Fargo & Company MN now owns 7,194 shares of the company's stock valued at $125,000 after buying an additional 1,529 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of OneWater Marine during the 4th quarter valued at about $158,000. Raymond James Financial Inc. purchased a new stake in shares of OneWater Marine during the 4th quarter valued at about $199,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of OneWater Marine during the 4th quarter valued at about $218,000. Hedge funds and other institutional investors own 94.32% of the company's stock.

OneWater Marine Trading Up 0.3%

NASDAQ:ONEW traded up $0.04 during mid-day trading on Friday, hitting $13.84. 234,525 shares of the stock traded hands, compared to its average volume of 127,014. The stock has a market capitalization of $225.73 million, a price-to-earnings ratio of -29.45 and a beta of 2.05. OneWater Marine Inc. has a 52 week low of $11.58 and a 52 week high of $31.00. The firm's 50 day moving average is $14.19 and its two-hundred day moving average is $16.18. The company has a quick ratio of 0.33, a current ratio of 1.20 and a debt-to-equity ratio of 1.05.

OneWater Marine (NASDAQ:ONEW - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.12). The firm had revenue of $483.52 million for the quarter, compared to the consensus estimate of $498.73 million. OneWater Marine had a negative net margin of 0.39% and a positive return on equity of 1.09%. On average, equities research analysts predict that OneWater Marine Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

ONEW has been the topic of several recent research reports. Truist Financial decreased their target price on shares of OneWater Marine from $25.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. KeyCorp decreased their target price on shares of OneWater Marine from $22.00 to $16.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Baird R W cut shares of OneWater Marine from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Robert W. Baird decreased their target price on shares of OneWater Marine from $18.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $19.40.

Insiders Place Their Bets

In related news, Director J Steven Roy bought 5,001 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were acquired at an average cost of $12.22 per share, for a total transaction of $61,112.22. Following the purchase, the director now directly owns 25,761 shares of the company's stock, valued at approximately $314,799.42. The trade was a 24.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.