Benchmark Reaffirms Hold Rating for OneWater Marine (NASDAQ:ONEW)

Benchmark reaffirmed their hold rating on shares of OneWater Marine (NASDAQ:ONEW) in a research note published on Friday morning,Benzinga reports.

Separately, KeyCorp dropped their price objective on OneWater Marine from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

OneWater Marine Price Performance

NASDAQ:ONEW traded down $1.23 during trading hours on Friday, reaching $20.00. 229,934 shares of the company traded hands, compared to its average volume of 89,102. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.29 and a quick ratio of 0.35. The firm’s 50-day moving average is $22.67 and its 200-day moving average is $24.56. The stock has a market cap of $321.20 million, a P/E ratio of -3.00 and a beta of 2.58. OneWater Marine has a 1-year low of $19.66 and a 1-year high of $35.86.

Insider Activity

In other news, CEO Philip Austin Jr. Singleton acquired 3,334 shares of OneWater Marine stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average cost of $23.04 per share, with a total value of $76,815.36. Following the purchase, the chief executive officer now directly owns 613,517 shares of the company’s stock, valued at approximately $14,135,431.68. This trade represents a 0.55 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Anthony M. Aisquith bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average price of $21.25 per share, with a total value of $106,250.00. Following the acquisition, the chief operating officer now directly owns 729,316 shares in the company, valued at approximately $15,497,965. This trade represents a 0.69 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 20,034 shares of company stock valued at $441,828 over the last quarter. Company insiders own 18.70% of the company’s stock.

Institutional Trading of OneWater Marine

Several large investors have recently added to or reduced their stakes in ONEW. SageView Advisory Group LLC purchased a new position in OneWater Marine in the first quarter valued at about $322,000. Vanguard Group Inc. grew its stake in OneWater Marine by 2.0% in the first quarter. Vanguard Group Inc. now owns 581,355 shares of the company’s stock worth $16,365,000 after purchasing an additional 11,227 shares in the last quarter. NBW Capital LLC increased its holdings in OneWater Marine by 1.6% in the first quarter. NBW Capital LLC now owns 253,079 shares of the company’s stock valued at $7,124,000 after buying an additional 4,100 shares during the last quarter. Bank of New York Mellon Corp raised its stake in OneWater Marine by 6.5% during the second quarter. Bank of New York Mellon Corp now owns 74,792 shares of the company’s stock valued at $2,062,000 after buying an additional 4,539 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of OneWater Marine by 5.4% in the 2nd quarter. Rhumbline Advisers now owns 19,253 shares of the company’s stock worth $531,000 after acquiring an additional 994 shares in the last quarter. 94.32% of the stock is currently owned by institutional investors and hedge funds.

OneWater Marine Company 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.