OneWater Marine Inc. (NASDAQ:ONEW) Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in OneWater Marine Inc. (NASDAQ:ONEW) by 6.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,792 shares of the company’s stock after buying an additional 4,539 shares during the period. Bank of New York Mellon Corp owned approximately 0.47% of OneWater Marine worth $2,062,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ONEW. Breach Inlet Capital Management LLC purchased a new position in shares of OneWater Marine during the 4th quarter valued at $8,781,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in OneWater Marine by 1.0% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 399,030 shares of the company’s stock valued at $13,483,000 after acquiring an additional 3,770 shares during the period. Vanguard Group Inc. boosted its holdings in OneWater Marine by 2.0% during the first quarter. Vanguard Group Inc. now owns 581,355 shares of the company’s stock valued at $16,365,000 after acquiring an additional 11,227 shares during the period. Premier Fund Managers Ltd bought a new stake in OneWater Marine during the fourth quarter valued at about $621,000. Finally, NBW Capital LLC boosted its holdings in OneWater Marine by 1.6% during the first quarter. NBW Capital LLC now owns 253,079 shares of the company’s stock valued at $7,124,000 after acquiring an additional 4,100 shares during the period. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at OneWater Marine

In other OneWater Marine news, CEO Philip Austin Jr. Singleton acquired 15,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average price of $22.31 per share, with a total value of $334,650.00. Following the acquisition, the chief executive officer now directly owns 605,183 shares of the company’s stock, valued at approximately $13,501,632.73. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Philip Austin Jr. Singleton purchased 15,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $22.31 per share, with a total value of $334,650.00. Following the acquisition, the chief executive officer now owns 605,183 shares in the company, valued at approximately $13,501,632.73. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey B. Lamkin acquired 2,567 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $22.90 per share, with a total value of $58,784.30. Following the completion of the transaction, the director now owns 62,281 shares in the company, valued at $1,426,234.90. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 87,329 shares of company stock worth $1,936,799. Insiders own 18.70% of the company’s stock.

OneWater Marine Trading Up 5.6 %

ONEW opened at $23.81 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 0.35 and a debt-to-equity ratio of 1.04. OneWater Marine Inc. has a 12 month low of $20.00 and a 12 month high of $35.86. The firm’s fifty day simple moving average is $24.56 and its 200 day simple moving average is $25.29. The stock has a market capitalization of $382.39 million, a P/E ratio of -4.18 and a beta of 2.57.

OneWater Marine (NASDAQ:ONEW) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($1.01). The firm had revenue of $542.44 million for the quarter, compared to analyst estimates of $600.20 million. OneWater Marine had a positive return on equity of 6.60% and a negative net margin of 5.16%. During the same quarter in the prior year, the firm earned $1.95 earnings per share. As a group, research analysts anticipate that OneWater Marine Inc. will post 1.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ONEW shares. KeyCorp reduced their target price on shares of OneWater Marine from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Benchmark restated a “hold” rating on shares of OneWater Marine in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.25.

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.