OneWater Marine (NASDAQ:ONEW) Sees Large Volume Increase

OneWater Marine Inc. (NASDAQ:ONEW) saw an uptick in trading volume on Thursday . 4,742 shares changed hands during trading, a decline of 95% from the previous session’s volume of 89,313 shares.The stock last traded at $41.37 and had previously closed at $41.63.

Several brokerages have recently issued reports on ONEW. Robert W. Baird boosted their price objective on shares of OneWater Marine from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, February 8th. Raymond James boosted their price objective on shares of OneWater Marine from $41.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, March 29th. Stifel Nicolaus began coverage on shares of OneWater Marine in a research note on Monday, March 1st. They set a “buy” rating and a $42.00 price objective for the company. Zacks Investment Research cut shares of OneWater Marine from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Truist boosted their price objective on shares of OneWater Marine from $36.00 to $40.00 in a research note on Wednesday, January 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $36.57.

The company’s 50-day moving average price is $38.84 and its two-hundred day moving average price is $29.79. The company has a market cap of $622.96 million and a P/E ratio of -0.91. The company has a current ratio of 1.36, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.

OneWater Marine (NASDAQ:ONEW) last announced its quarterly earnings data on Thursday, February 4th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.60. OneWater Marine had a net margin of 1.57% and a return on equity of 13.20%. The business had revenue of $214.08 million during the quarter, compared to the consensus estimate of $183.26 million. As a group, analysts anticipate that OneWater Marine Inc. will post 3.89 earnings per share for the current year.

In other news, Director Mitchell W. Legler sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 10th. The shares were sold at an average price of $40.27, for a total value of $60,405.00. Following the completion of the sale, the director now directly owns 65,799 shares of the company’s stock, valued at approximately $2,649,725.73. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Troiano sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 10th. The stock was sold at an average price of $36.17, for a total transaction of $723,400.00. Following the completion of the sale, the director now directly owns 6,250 shares of the company’s stock, valued at $226,062.50. The disclosure for this sale can be found here. Insiders have sold a total of 28,724 shares of company stock valued at $1,046,831 over the last three months.

Several large investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new stake in OneWater Marine during the fourth quarter valued at approximately $29,000. Citigroup Inc. lifted its stake in OneWater Marine by 533.1% during the fourth quarter. Citigroup Inc. now owns 1,608 shares of the company’s stock valued at $47,000 after purchasing an additional 1,354 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in OneWater Marine during the fourth quarter valued at approximately $49,000. Strs Ohio acquired a new stake in OneWater Marine during the third quarter valued at approximately $98,000. Finally, State of Tennessee Treasury Department acquired a new stake in OneWater Marine during the third quarter valued at approximately $131,000. 50.14% of the stock is owned by institutional investors.

About OneWater Marine (NASDAQ:ONEW)

OneWater Marine Inc operates as a recreational boat retailer in the United States. It offers new and pre-owned recreational boats and yachts, as well as related marine products, such as parts and accessories. The company also provides boat repair and maintenance services; arranges boat financing and insurance; and other ancillary services, including indoor and outdoor storage, and marina, as well as rental of boats and personal watercraft.

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