GAMMA Investing LLC Increases Stock Position in OneWater Marine Inc. (NASDAQ:ONEW)

GAMMA Investing LLC raised its holdings in OneWater Marine Inc. (NASDAQ:ONEW) by 8,063.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,124 shares of the company’s stock after purchasing an additional 33,706 shares during the period. GAMMA Investing LLC owned 0.21% of OneWater Marine worth $552,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ONEW. Royce & Associates LP lifted its holdings in shares of OneWater Marine by 13.2% in the fourth quarter. Royce & Associates LP now owns 1,853,788 shares of the company’s stock valued at $32,219,000 after purchasing an additional 216,410 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of OneWater Marine by 42.0% in the fourth quarter. Russell Investments Group Ltd. now owns 201,943 shares of the company’s stock valued at $3,510,000 after purchasing an additional 59,753 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of OneWater Marine in the fourth quarter valued at about $782,000. Jane Street Group LLC lifted its holdings in shares of OneWater Marine by 2,322.1% in the fourth quarter. Jane Street Group LLC now owns 40,158 shares of the company’s stock valued at $698,000 after purchasing an additional 38,500 shares in the last quarter. Finally, First Eagle Investment Management LLC purchased a new stake in shares of OneWater Marine in the fourth quarter valued at about $588,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.

OneWater Marine Stock Performance

Shares of ONEW opened at $13.80 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.33 and a current ratio of 1.20. The company has a market capitalization of $225.08 million, a price-to-earnings ratio of -29.36 and a beta of 2.05. The company’s 50 day simple moving average is $14.16 and its 200 day simple moving average is $16.32. OneWater Marine Inc. has a 1 year low of $11.58 and a 1 year high of $31.00.

OneWater Marine (NASDAQ:ONEW) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.12). The firm had revenue of $483.52 million for the quarter, compared to analysts’ expectations of $498.73 million. OneWater Marine had a negative net margin of 0.39% and a positive return on equity of 1.09%. On average, sell-side analysts predict that OneWater Marine Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Baird R W downgraded shares of OneWater Marine from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Robert W. Baird reduced their price target on shares of OneWater Marine from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. KeyCorp reduced their price objective on shares of OneWater Marine from $22.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Finally, Truist Financial reduced their price objective on shares of OneWater Marine from $25.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, OneWater Marine currently has an average rating of “Hold” and an average price target of $19.40.

Insiders Place Their Bets

In related news, Director J Steven Roy purchased 5,001 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $12.22 per share, with a total value of $61,112.22. Following the completion of the purchase, the director now directly owns 25,761 shares in the company, valued at approximately $314,799.42. This trade represents a 24.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 20.30% of the stock is currently owned by insiders.

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.