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

Private Management Group Inc. lifted its stake in shares of OneWater Marine Inc. (NASDAQ:ONEW) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 611,736 shares of the company’s stock after buying an additional 22,075 shares during the period. Private Management Group Inc.’s holdings in OneWater Marine were worth $20,671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. GAMMA Investing LLC purchased a new position in OneWater Marine in the fourth quarter worth $29,000. Bank of New York Mellon Corp boosted its position in OneWater Marine by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 92,289 shares of the company’s stock worth $2,364,000 after purchasing an additional 1,108 shares during the last quarter. SG Americas Securities LLC boosted its position in OneWater Marine by 27.3% in the fourth quarter. SG Americas Securities LLC now owns 6,297 shares of the company’s stock worth $213,000 after purchasing an additional 1,350 shares during the last quarter. Brandywine Global Investment Management LLC boosted its position in OneWater Marine by 13.4% in the third quarter. Brandywine Global Investment Management LLC now owns 42,533 shares of the company’s stock worth $1,090,000 after purchasing an additional 5,031 shares during the last quarter. Finally, MTM Investment Management LLC purchased a new position in OneWater Marine in the fourth quarter worth $217,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.

OneWater Marine Stock Performance

Shares of NASDAQ:ONEW traded up $0.17 during midday trading on Tuesday, reaching $24.17. 46,776 shares of the company traded hands, compared to its average volume of 85,723. The company has a quick ratio of 0.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.13. OneWater Marine Inc. has a 12 month low of $21.78 and a 12 month high of $39.15. The firm has a market capitalization of $385.99 million, a price-to-earnings ratio of -6.25 and a beta of 2.49. The firm’s fifty day moving average price is $25.55 and its two-hundred day moving average price is $26.76.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ONEW. DA Davidson restated a “neutral” rating and issued a $27.00 target price on shares of OneWater Marine in a research note on Friday, March 15th. Stifel Nicolaus boosted their target price on OneWater Marine from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. KeyCorp boosted their target price on OneWater Marine from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, January 12th. Finally, Truist Financial lowered their target price on OneWater Marine from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, OneWater Marine currently has a consensus rating of “Moderate Buy” and an average price target of $32.40.

About OneWater Marine

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.