Private Management Group Inc. Boosts Stock Holdings in OneWater Marine Inc. (NASDAQ:ONEW)

Private Management Group Inc. boosted its position in OneWater Marine Inc. (NASDAQ:ONEW) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 611,736 shares of the company’s stock after purchasing an additional 22,075 shares during the period. Private Management Group Inc. owned about 3.83% of OneWater Marine worth $20,671,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ONEW. SG Americas Securities LLC bought a new position in OneWater Marine in the third quarter valued at $127,000. Bank of New York Mellon Corp lifted its holdings in shares of OneWater Marine by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 92,289 shares of the company’s stock valued at $2,364,000 after purchasing an additional 1,108 shares during the last quarter. Brandywine Global Investment Management LLC lifted its holdings in shares of OneWater Marine by 13.4% during the third quarter. Brandywine Global Investment Management LLC now owns 42,533 shares of the company’s stock valued at $1,090,000 after purchasing an additional 5,031 shares during the last quarter. MTM Investment Management LLC bought a new position in OneWater Marine in the 4th quarter valued at approximately $217,000. Finally, GAMMA Investing LLC purchased a new stake in OneWater Marine during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.

OneWater Marine Trading Up 0.7 %

ONEW stock traded up $0.17 during midday trading on Tuesday, hitting $24.17. 46,776 shares of the company’s stock were exchanged, compared to its average volume of 85,723. OneWater Marine Inc. has a 1-year low of $21.78 and a 1-year high of $39.15. The company has a current ratio of 1.27, a quick ratio of 0.26 and a debt-to-equity ratio of 1.13. The business has a 50-day simple moving average of $25.55 and a two-hundred day simple moving average of $26.76. The stock has a market capitalization of $385.99 million, a PE ratio of -6.25 and a beta of 2.49.

OneWater Marine (NASDAQ:ONEW) last announced its quarterly earnings results on Thursday, February 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.08). The business had revenue of $364.01 million for the quarter, compared to analysts’ expectations of $370.33 million. OneWater Marine had a positive return on equity of 11.55% and a negative net margin of 2.83%. On average, sell-side analysts predict that OneWater Marine Inc. will post 3.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ONEW shares. Stifel Nicolaus increased their price target on OneWater Marine from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Truist Financial reduced their target price on shares of OneWater Marine from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. DA Davidson reaffirmed a “neutral” rating and set a $27.00 target price on shares of OneWater Marine in a research report on Friday, March 15th. Finally, KeyCorp lifted their price objective on shares of OneWater Marine from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, January 12th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.40.

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.