Hotchkis & Wiley Capital Management LLC Increases Stock Position in OneWater Marine Inc. $ONEW

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in OneWater Marine Inc. by 40.1%, owning over 455,000 shares worth approximately $7.37 million.
• OneWater Marine reported earnings of $0.79 EPS for the quarter, missing estimates, but had a revenue of $552.86 million exceeding expectations.
• The company's stock is currently rated as a "Hold" by analysts, with a consensus price target of $19.60.

Hotchkis & Wiley Capital Management LLC boosted its position in shares of OneWater Marine Inc. (NASDAQ:ONEW - Free Report) by 40.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 455,320 shares of the company's stock after purchasing an additional 130,400 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 2.79% of OneWater Marine worth $7,367,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ONEW. BNP Paribas Financial Markets purchased a new position in OneWater Marine during the fourth quarter worth $29,000. GAMMA Investing LLC lifted its holdings in OneWater Marine by 404.5% in the 1st quarter. GAMMA Investing LLC now owns 2,109 shares of the company's stock valued at $34,000 after purchasing an additional 1,691 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in OneWater Marine by 27.0% in the 4th quarter. Wells Fargo & Company MN now owns 7,194 shares of the company's stock valued at $125,000 after purchasing an additional 1,529 shares in the last quarter. Raymond James Financial Inc. purchased a new position in OneWater Marine in the 4th quarter valued at about $199,000. Finally, Bank of America Corp DE lifted its holdings in OneWater Marine by 23.3% in the 4th quarter. Bank of America Corp DE now owns 16,296 shares of the company's stock valued at $283,000 after purchasing an additional 3,077 shares in the last quarter. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ONEW. KeyCorp upped their target price on shares of OneWater Marine from $16.00 to $17.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Zacks Research lowered OneWater Marine from a "hold" rating to a "strong sell" rating in a research note on Monday. Finally, Robert W. Baird reduced their price target on OneWater Marine from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.60.

OneWater Marine Trading Up 2.2%

Shares of NASDAQ ONEW traded up $0.38 during trading on Wednesday, hitting $17.46. 182,989 shares of the company traded hands, compared to its average volume of 141,825. OneWater Marine Inc. has a 1 year low of $11.58 and a 1 year high of $26.77. The company has a 50-day moving average price of $15.26 and a 200-day moving average price of $15.38. The firm has a market capitalization of $285.82 million, a P/E ratio of -21.56 and a beta of 1.99. The company has a quick ratio of 0.37, a current ratio of 1.23 and a debt-to-equity ratio of 0.97.

OneWater Marine (NASDAQ:ONEW - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.33). OneWater Marine had a negative net margin of 0.61% and a positive return on equity of 0.45%. The company had revenue of $552.86 million for the quarter, compared to analysts' expectations of $532.01 million. OneWater Marine has set its FY 2025 guidance at 0.500-0.750 EPS. On average, equities analysts predict that OneWater Marine Inc. will post 1.57 EPS for the current year.

About OneWater Marine

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.