Russell Investments Group Ltd. Sells 83,588 Shares of OneWater Marine Inc. $ONEW

Key Points

• Russell Investments Group Ltd. reduced its stake in OneWater Marine Inc. by 41.4%, owning 118,355 shares after selling 83,588 shares in the first quarter, now valuing its holdings at approximately $1.9 million.
• Other institutional investors like Royce & Associates LP and Charles Schwab Investment Management Inc. have significantly increased their holdings, with Schwab raising its stake by 112.3% in the first quarter.
• OneWater Marine reported $0.79 earnings per share for the last quarter, missing expectations of $1.12, and set a fiscal year 2025 guidance of 0.500-0.750 EPS.

Russell Investments Group Ltd. lowered its position in shares of OneWater Marine Inc. (NASDAQ:ONEW - Free Report) by 41.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,355 shares of the company's stock after selling 83,588 shares during the period. Russell Investments Group Ltd. owned about 0.73% of OneWater Marine worth $1,915,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ONEW. Wells Fargo & Company MN raised its position in shares of OneWater Marine by 27.0% in the 4th quarter. Wells Fargo & Company MN now owns 7,194 shares of the company's stock worth $125,000 after acquiring an additional 1,529 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in OneWater Marine in the fourth quarter valued at about $29,000. GAMMA Investing LLC grew its stake in OneWater Marine by 404.5% in the first 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 during the last quarter. Barclays PLC raised its holdings in OneWater Marine by 14.6% in the fourth quarter. Barclays PLC now owns 17,971 shares of the company's stock worth $313,000 after purchasing an additional 2,294 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of OneWater Marine by 23.3% during the fourth quarter. Bank of America Corp DE now owns 16,296 shares of the company's stock valued at $283,000 after buying an additional 3,077 shares during the last quarter. 94.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ONEW has been the topic of several research analyst reports. KeyCorp boosted their target price on shares of OneWater Marine from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Zacks Research downgraded OneWater Marine from a "hold" rating to a "strong sell" rating in a research note on Monday, August 25th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, OneWater Marine presently has an average rating of "Hold" and an average price target of $19.60.

OneWater Marine Stock Down 1.5%

Shares of NASDAQ ONEW traded down $0.25 during midday trading on Monday, hitting $16.83. 123,118 shares of the company's stock were exchanged, compared to its average volume of 129,893. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.23 and a quick ratio of 0.37. OneWater Marine Inc. has a twelve month low of $11.58 and a twelve month high of $26.77. The firm's fifty day simple moving average is $15.38 and its 200-day simple moving average is $15.28. The company has a market cap of $275.51 million, a PE ratio of -20.78 and a beta of 1.99.

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

Insider Buying and Selling at OneWater Marine

In other news, Director John Troiano sold 15,041 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $17.35, for a total transaction of $260,961.35. Following the sale, the director owned 52,226 shares in the company, valued at $906,121.10. The trade was a 22.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.30% of the stock is owned by company insiders.

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.