OneWater Marine Inc. (NASDAQ:ONEW) Shares Bought by Private Management Group Inc.

Key Points

• Private Management Group Inc. increased its holdings in OneWater Marine Inc. by 10.0%, owning 583,007 shares valued at approximately $9.43 million after purchasing an additional 53,019 shares in the first quarter.
• Multiple institutional investors significantly boosted their positions in OneWater Marine, with Jane Street Group LLC increasing its stake by 2,322.1% and GAMMA Investing LLC by 8,063.6% during the last reported periods.
• Analysts have lowered their price targets for OneWater Marine; Truist Financial and KeyCorp both set new targets at $16.00, reflecting a decrease amidst a challenging earnings report where the company missed consensus estimates.

Private Management Group Inc. increased its stake in shares of OneWater Marine Inc. (NASDAQ:ONEW - Free Report) by 10.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 583,007 shares of the company's stock after purchasing an additional 53,019 shares during the period. Private Management Group Inc. owned 3.57% of OneWater Marine worth $9,433,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC grew its stake in OneWater Marine by 2,322.1% in the 4th quarter. Jane Street Group LLC now owns 40,158 shares of the company's stock worth $698,000 after acquiring an additional 38,500 shares during the period. GAMMA Investing LLC grew its stake in OneWater Marine by 8,063.6% in the 1st quarter. GAMMA Investing LLC now owns 34,124 shares of the company's stock worth $552,000 after acquiring an additional 33,706 shares during the period. Millennium Management LLC purchased a new stake in OneWater Marine in the 4th quarter worth approximately $782,000. Sei Investments Co. grew its stake in OneWater Marine by 14.0% in the 4th quarter. Sei Investments Co. now owns 229,506 shares of the company's stock worth $3,989,000 after acquiring an additional 28,164 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in OneWater Marine in the 4th quarter worth approximately $394,000. 94.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at OneWater Marine

In other OneWater Marine news, Director J Steven Roy bought 5,001 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average cost of $12.22 per share, for a total transaction of $61,112.22. Following the transaction, the director directly owned 25,761 shares in the company, valued at $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 accessible through this hyperlink. Insiders own 20.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Robert W. Baird lowered their target price on shares of OneWater Marine from $18.00 to $17.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Baird R W lowered shares of OneWater Marine from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. KeyCorp cut their price objective on shares of OneWater Marine from $22.00 to $16.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Truist Financial cut 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 note on Monday, April 14th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $19.40.

OneWater Marine Stock Performance

ONEW traded down $0.42 on Tuesday, hitting $14.79. 32,072 shares of the company's stock were exchanged, compared to its average volume of 153,466. The company has a current ratio of 1.20, a quick ratio of 0.33 and a debt-to-equity ratio of 1.05. The stock has a fifty day moving average of $14.48 and a two-hundred day moving average of $15.42. OneWater Marine Inc. has a twelve month low of $11.58 and a twelve month high of $27.05. The firm has a market cap of $241.22 million, a PE ratio of -31.47 and a beta of 1.97.

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