Franklin Resources Inc. Takes $382,000 Position in OneWater Marine Inc. (NASDAQ:ONEW)

Franklin Resources Inc. acquired a new position in shares of OneWater Marine Inc. (NASDAQ:ONEW) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 21,970 shares of the company’s stock, valued at approximately $382,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of OneWater Marine by 332.5% in the 3rd quarter. FMR LLC now owns 4,308 shares of the company’s stock worth $103,000 after acquiring an additional 3,312 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of OneWater Marine in the fourth quarter valued at about $158,000. Raymond James Financial Inc. acquired a new stake in OneWater Marine during the fourth quarter worth about $199,000. EntryPoint Capital LLC acquired a new stake in OneWater Marine during the fourth quarter worth about $218,000. Finally, Barclays PLC raised its stake in OneWater Marine by 267.9% during the third quarter. Barclays PLC now owns 15,677 shares of the company’s stock worth $375,000 after purchasing an additional 11,416 shares during the period. Institutional investors and hedge funds own 94.32% of the company’s stock.

OneWater Marine Price Performance

ONEW stock opened at $13.49 on Friday. The business’s fifty day moving average price is $16.36 and its 200 day moving average price is $18.70. OneWater Marine Inc. has a 12-month low of $12.02 and a 12-month high of $31.36. The company has a current ratio of 1.24, a quick ratio of 0.25 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $220.06 million, a PE ratio of -18.74 and a beta of 2.33.

OneWater Marine (NASDAQ:ONEW) last issued its quarterly earnings results on Thursday, January 30th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.30. OneWater Marine had a negative net margin of 0.59% and a positive return on equity of 3.09%. On average, sell-side analysts anticipate that OneWater Marine Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In related news, CEO Philip Austin Jr. Singleton purchased 15,000 shares of OneWater Marine stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $15.40 per share, with a total value of $231,000.00. Following the transaction, the chief executive officer now directly owns 682,368 shares of the company’s stock, valued at approximately $10,508,467.20. This trade represents a 2.25 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ONEW shares. KeyCorp cut their price target on shares of OneWater Marine from $22.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday. Stifel Nicolaus cut their target price on OneWater Marine from $31.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Robert W. Baird reaffirmed a “neutral” rating and issued a $18.00 price target (down previously from $25.00) on shares of OneWater Marine in a research note on Friday, April 4th. Truist Financial lowered their price target on OneWater Marine from $25.00 to $16.00 and set a “buy” rating for the company in a report on Monday. Finally, Baird R W lowered shares of OneWater Marine from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, OneWater Marine currently has an average rating of “Hold” and an average price target of $19.60.

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.