Insider Selling: OneWater Marine Inc. (NASDAQ:ONEW) Director Sells 1,500 Shares of Stock

OneWater Marine Inc. (NASDAQ:ONEW) Director Mitchell W. Legler sold 1,500 shares of the stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $47.11, for a total transaction of $70,665.00. Following the completion of the transaction, the director now owns 61,299 shares of the company’s stock, valued at $2,887,795.89. The sale was disclosed in a document filed with the SEC, which is available through this link.

Shares of NASDAQ ONEW traded down $1.94 during trading on Thursday, reaching $46.06. 65,019 shares of the company traded hands, compared to its average volume of 89,150. The firm’s 50 day moving average price is $47.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.15 and a quick ratio of 0.50. The stock has a market capitalization of $692.70 million, a PE ratio of 9.34 and a beta of 3.91. OneWater Marine Inc. has a 52-week low of $18.01 and a 52-week high of $56.78.

OneWater Marine (NASDAQ:ONEW) last announced its quarterly earnings results on Thursday, April 29th. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $1.12. The firm had revenue of $329.61 million for the quarter, compared to the consensus estimate of $254.54 million. OneWater Marine had a net margin of 3.65% and a return on equity of 26.73%. As a group, equities research analysts forecast that OneWater Marine Inc. will post 6.01 EPS for the current fiscal year.

ONEW has been the subject of a number of analyst reports. KeyCorp initiated coverage on shares of OneWater Marine in a research note on Wednesday, March 3rd. They set an “overweight” rating and a $43.00 price objective for the company. Truist Securities raised their price objective on shares of OneWater Marine from $40.00 to $48.00 in a research note on Monday, April 12th. Stifel Nicolaus initiated coverage on shares of OneWater Marine in a research note on Monday, February 22nd. They set a “buy” rating and a $42.00 price objective for the company. Raymond James raised their price objective on shares of OneWater Marine from $48.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, April 30th. Finally, Truist raised their price objective on shares of OneWater Marine from $40.00 to $48.00 in a research note on Monday, April 12th. Five analysts have rated the stock with a buy rating, OneWater Marine has a consensus rating of “Buy” and an average target price of $51.00.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP boosted its holdings in shares of OneWater Marine by 17.5% during the 1st quarter. Royce & Associates LP now owns 1,156,715 shares of the company’s stock valued at $46,222,000 after acquiring an additional 172,176 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in shares of OneWater Marine by 42.3% in the fourth quarter. Engineers Gate Manager LP now owns 20,664 shares of the company’s stock worth $601,000 after buying an additional 6,142 shares during the last quarter. Infini Master Fund purchased a new position in shares of OneWater Marine in the first quarter worth approximately $246,000. Citigroup Inc. boosted its holdings in shares of OneWater Marine by 533.1% in the fourth quarter. Citigroup Inc. now owns 1,608 shares of the company’s stock worth $47,000 after buying an additional 1,354 shares during the last quarter. Finally, MTM Investment Management LLC purchased a new position in shares of OneWater Marine in the first quarter worth approximately $215,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

About OneWater Marine

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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