Millennium Management LLC Purchases New Holdings in OneWater Marine Inc. (NASDAQ:ONEW)

Millennium Management LLC bought a new stake in OneWater Marine Inc. (NASDAQ:ONEW - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 44,998 shares of the company's stock, valued at approximately $782,000. Millennium Management LLC owned approximately 0.28% of OneWater Marine as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ONEW. Rhumbline Advisers raised 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 buying an additional 683 shares during the period. Raymond James Financial Inc. acquired a new stake in OneWater Marine during the 4th quarter worth about $199,000. AlphaQuest LLC purchased a new position in OneWater Marine during the 4th quarter valued at about $158,000. First Eagle Investment Management LLC acquired a new position in shares of OneWater Marine in the 4th quarter valued at about $588,000. Finally, Royce & Associates LP lifted its position in shares of OneWater Marine by 13.2% in the fourth quarter. Royce & Associates LP now owns 1,853,788 shares of the company's stock worth $32,219,000 after purchasing an additional 216,410 shares in the last quarter. Hedge funds and other institutional investors own 94.32% of the company's stock.

Insider Activity at OneWater Marine

In related news, Director J Steven Roy bought 5,001 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased 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 in the company, valued at $314,799.42. This trade represents a 24.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 20.30% of the stock is owned by corporate insiders.

OneWater Marine Stock Down 0.1%

NASDAQ ONEW traded down $0.02 during trading on Tuesday, reaching $15.48. The company's stock had a trading volume of 158,227 shares, compared to its average volume of 123,858. The company has a current ratio of 1.24, a quick ratio of 0.25 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $252.53 million, a PE ratio of -21.50 and a beta of 2.05. OneWater Marine Inc. has a 1-year low of $11.58 and a 1-year high of $31.00. The business has a 50-day moving average price of $14.08 and a 200-day moving average price of $16.60.

OneWater Marine (NASDAQ:ONEW - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.12). OneWater Marine had a positive return on equity of 3.09% and a negative net margin of 0.59%. The company had revenue of $483.52 million during the quarter, compared to analyst estimates of $498.73 million. On average, research analysts forecast that OneWater Marine Inc. will post 1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on ONEW shares. Truist Financial lowered their price objective 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. Baird R W cut shares of OneWater Marine from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Robert W. Baird dropped their price target on shares of OneWater Marine from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Finally, KeyCorp cut their price objective on OneWater Marine from $22.00 to $16.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.40.

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.