Franklin Resources Inc. Invests $382,000 in OneWater Marine Inc. (NASDAQ:ONEW)

Franklin Resources Inc. purchased a new position in OneWater Marine Inc. (NASDAQ:ONEW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,970 shares of the company's stock, valued at approximately $382,000. Franklin Resources Inc. owned about 0.13% of OneWater Marine at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. EntryPoint Capital LLC bought a new stake in shares of OneWater Marine in the fourth quarter valued at approximately $218,000. Sei Investments Co. increased its stake in shares of OneWater Marine by 14.0% in the fourth quarter. Sei Investments Co. now owns 229,506 shares of the company's stock valued at $3,989,000 after buying an additional 28,164 shares in the last quarter. American Century Companies Inc. increased its stake in shares of OneWater Marine by 1.8% in the fourth quarter. American Century Companies Inc. now owns 1,676,270 shares of the company's stock valued at $29,134,000 after buying an additional 29,468 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of OneWater Marine in the fourth quarter valued at $418,000. Finally, Royce & Associates LP increased its stake 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 valued at $32,219,000 after buying an additional 216,410 shares in the last quarter. Institutional investors and hedge funds own 94.32% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ONEW. Robert W. Baird restated a "neutral" rating and set a $18.00 target price (down from $25.00) on shares of OneWater Marine in a research report on Friday, April 4th. Truist Financial cut their price target 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. Stifel Nicolaus lowered their price objective on shares of OneWater Marine from $31.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. Baird R W lowered shares of OneWater Marine from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, KeyCorp dropped 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $19.60.

Insider Activity at OneWater Marine

In related news, CEO Philip Austin Jr. Singleton bought 15,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $15.40 per share, with a total value of $231,000.00. Following the acquisition, the chief executive officer now owns 682,368 shares of the company's stock, valued at $10,508,467.20. This represents a 2.25 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 20.30% of the stock is currently owned by company insiders.

OneWater Marine Stock Up 5.5 %

OneWater Marine stock traded up $0.76 during mid-day trading on Wednesday, reaching $14.70. The company's stock had a trading volume of 10,342 shares, compared to its average volume of 114,471. The business's 50 day simple moving average is $15.98 and its 200 day simple moving average is $18.50. OneWater Marine Inc. has a 12 month low of $12.02 and a 12 month high of $31.36. The company has a market capitalization of $239.80 million, a price-to-earnings ratio of -20.42 and a beta of 2.33. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.25 and a current ratio of 1.24.

OneWater Marine (NASDAQ:ONEW - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.30. OneWater Marine had a negative net margin of 0.59% and a positive return on equity of 3.09%. As a group, research analysts anticipate that OneWater Marine Inc. will post 1.57 earnings per share for the current year.

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.