Franklin Resources Inc. Buys New Position in OneWater Marine Inc. (NASDAQ:ONEW)

Franklin Resources Inc. bought a new position in shares of OneWater Marine Inc. (NASDAQ:ONEW - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,970 shares of the company's stock, valued at approximately $382,000. Franklin Resources Inc. owned about 0.13% of OneWater Marine at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ONEW. Barclays PLC increased its position in shares of OneWater Marine by 267.9% in the 3rd quarter. Barclays PLC now owns 15,677 shares of the company's stock valued at $375,000 after buying an additional 11,416 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in shares of OneWater Marine in the fourth quarter worth about $588,000. Sei Investments Co. raised its position in shares of OneWater Marine by 14.0% during the fourth quarter. Sei Investments Co. now owns 229,506 shares of the company's stock worth $3,989,000 after purchasing an additional 28,164 shares during the period. Geode Capital Management LLC raised its position in shares of OneWater Marine by 11.4% during the third quarter. Geode Capital Management LLC now owns 293,831 shares of the company's stock worth $7,028,000 after purchasing an additional 29,952 shares during the period. Finally, State Street Corp lifted its holdings in shares of OneWater Marine by 0.5% during the 3rd quarter. State Street Corp now owns 226,038 shares of the company's stock valued at $5,405,000 after purchasing an additional 1,131 shares in the last quarter. 94.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ONEW has been the subject of a number of research reports. Baird R W cut OneWater Marine from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. KeyCorp dropped their target price on OneWater Marine from $22.00 to $16.00 and set an "overweight" rating on the stock in a research report on Thursday. Truist Financial reduced their price target on OneWater Marine from $25.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Stifel Nicolaus cut their price objective on shares of OneWater Marine from $31.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $18.00 target price (down previously from $25.00) on shares of OneWater Marine in a research report on Friday, April 4th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, OneWater Marine has an average rating of "Hold" and an average target price of $19.60.

OneWater Marine Stock Performance

Shares of ONEW stock traded up $0.65 during trading on Friday, reaching $13.49. 94,614 shares of the company's stock were exchanged, compared to its average volume of 114,906. OneWater Marine Inc. has a twelve month low of $12.02 and a twelve month high of $31.36. The firm's fifty day moving average price is $16.21 and its 200-day moving average price is $18.61. The company has a quick ratio of 0.25, a current ratio of 1.24 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $220.06 million, a PE ratio of -18.74 and a beta of 2.33.

OneWater Marine (NASDAQ:ONEW - Get Free Report) last posted its 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%. As a group, sell-side analysts anticipate that OneWater Marine Inc. will post 1.57 EPS for the current year.

Insider Activity at OneWater Marine

In related news, CEO Philip Austin Jr. Singleton bought 15,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $15.40 per share, for a total transaction of $231,000.00. Following the transaction, the chief executive officer now owns 682,368 shares in the company, valued at $10,508,467.20. The trade was a 2.25 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.30% of the stock is currently owned by corporate 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.