OneWater Marine (NASDAQ:ONEW) Shares Up 3.9% - Here's What Happened

OneWater Marine Inc. (NASDAQ:ONEW - Get Free Report) shot up 3.9% during trading on Thursday . The company traded as high as $16.20 and last traded at $15.91. 100,991 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 130,049 shares. The stock had previously closed at $15.31.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. KeyCorp reduced their target price on OneWater Marine from $22.00 to $16.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Robert W. Baird reduced their target price on OneWater Marine from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Baird R W lowered OneWater Marine from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Truist Financial reduced their target price on OneWater Marine from $25.00 to $16.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $19.40.

OneWater Marine Stock Down 4.1%

The firm has a 50 day moving average of $14.40 and a two-hundred day moving average of $15.56. The firm has a market capitalization of $239.43 million, a price-to-earnings ratio of -31.23 and a beta of 1.97. The company has a quick ratio of 0.33, a current ratio of 1.20 and a debt-to-equity ratio of 1.05.

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 for the quarter, missing the consensus estimate of $0.25 by ($0.12). The business had revenue of $483.52 million during the quarter, compared to analyst estimates of $498.73 million. OneWater Marine had a negative net margin of 0.39% and a positive return on equity of 1.09%. As a group, sell-side analysts anticipate that OneWater Marine Inc. will post 1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other OneWater Marine news, Director J Steven Roy acquired 5,001 shares of OneWater Marine stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $12.22 per share, with a total value of $61,112.22. Following the completion of the purchase, the director directly owned 25,761 shares of the company's stock, valued at $314,799.42. This represents a 24.09% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 20.30% of the stock is owned by company insiders.

Institutional Trading of OneWater Marine

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in OneWater Marine in the fourth quarter valued at about $29,000. GAMMA Investing LLC boosted its stake in shares of OneWater Marine by 404.5% during 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 in the last quarter. Wells Fargo & Company MN boosted its stake in shares of OneWater Marine by 27.0% during the fourth 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. AlphaQuest LLC acquired a new stake in shares of OneWater Marine during the fourth quarter valued at about $158,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of OneWater Marine during the fourth quarter valued at about $199,000. 94.32% of the stock is owned by institutional investors and hedge funds.

OneWater Marine Company 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.