Empowered Funds LLC Decreases Stock Position in OneWater Marine Inc. (NASDAQ:ONEW)

Empowered Funds LLC trimmed its holdings in OneWater Marine Inc. (NASDAQ:ONEW) by 81.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,786 shares of the company’s stock after selling 43,022 shares during the period. Empowered Funds LLC owned 0.06% of OneWater Marine worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of OneWater Marine in the third quarter valued at approximately $119,000. Bfsg LLC lifted its stake in OneWater Marine by 12.2% in the 3rd quarter. Bfsg LLC now owns 5,186 shares of the company’s stock valued at $124,000 after buying an additional 565 shares in the last quarter. Rhumbline Advisers lifted its stake in OneWater Marine by 5.4% in the 2nd quarter. Rhumbline Advisers now owns 19,253 shares of the company’s stock valued at $531,000 after buying an additional 994 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in OneWater Marine by 6.5% during the 2nd 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 during the last quarter. Finally, Sei Investments Co. increased its position in OneWater Marine by 1.1% during the second quarter. Sei Investments Co. now owns 190,182 shares of the company’s stock worth $5,243,000 after buying an additional 2,124 shares in the last quarter. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on ONEW. Stifel Nicolaus decreased their price objective on OneWater Marine from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. KeyCorp decreased their price target on shares of OneWater Marine from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Benchmark reissued a “hold” rating on shares of OneWater Marine in a research report on Friday, November 15th. Finally, DA Davidson decreased their target price on shares of OneWater Marine from $27.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Insider Activity at OneWater Marine

In other news, CEO Philip Austin Jr. Singleton bought 11,939 shares of OneWater Marine stock in a transaction that occurred on Tuesday, November 19th. The shares were purchased at an average price of $19.42 per share, for a total transaction of $231,855.38. Following the completion of the acquisition, the chief executive officer now owns 632,161 shares of the company’s stock, valued at $12,276,566.62. The trade was a 1.92 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Steven Roy purchased 2,500 shares of the stock in a transaction on Wednesday, November 20th. The shares were purchased at an average cost of $19.05 per share, with a total value of $47,625.00. Following the transaction, the director now owns 20,760 shares of the company’s stock, valued at $395,478. This trade represents a 13.69 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 31,139 shares of company stock worth $644,493. 18.70% of the stock is owned by company insiders.

OneWater Marine Trading Down 4.7 %

NASDAQ ONEW opened at $21.53 on Wednesday. The company has a 50-day moving average of $22.44 and a 200-day moving average of $24.48. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.29 and a quick ratio of 0.35. OneWater Marine Inc. has a 12 month low of $18.55 and a 12 month high of $35.86. The company has a market cap of $345.77 million, a P/E ratio of -53.82 and a beta of 2.58.

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.