Russell Investments Group Ltd. Acquires 59,753 Shares of OneWater Marine Inc. (NASDAQ:ONEW)

Russell Investments Group Ltd. raised its holdings in shares of OneWater Marine Inc. (NASDAQ:ONEW - Free Report) by 42.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 201,943 shares of the company's stock after purchasing an additional 59,753 shares during the quarter. Russell Investments Group Ltd. owned approximately 1.24% of OneWater Marine worth $3,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of OneWater Marine by 332.5% during the third quarter. FMR LLC now owns 4,308 shares of the company's stock worth $103,000 after acquiring an additional 3,312 shares in the last quarter. State Street Corp lifted its holdings in OneWater Marine by 0.5% during the 3rd quarter. State Street Corp now owns 226,038 shares of the company's stock worth $5,405,000 after purchasing an additional 1,131 shares in the last quarter. Barclays PLC lifted its holdings in OneWater Marine by 267.9% during the 3rd quarter. Barclays PLC now owns 15,677 shares of the company's stock worth $375,000 after purchasing an additional 11,416 shares in the last quarter. Geode Capital Management LLC boosted its stake in OneWater Marine by 11.4% in the 3rd 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, Rhumbline Advisers grew its holdings in OneWater Marine by 3.6% during the 4th quarter. Rhumbline Advisers now owns 19,420 shares of the company's stock valued at $338,000 after buying an additional 683 shares in the last quarter. Institutional investors own 94.32% of the company's stock.

Insider Activity

In other news, CEO Philip Austin Jr. Singleton bought 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $15.40 per share, with a total value of $231,000.00. Following the completion of the purchase, the chief executive officer now directly owns 682,368 shares in the company, valued at $10,508,467.20. This represents a 2.25 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 20.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ONEW has been the topic of a number of recent analyst reports. Baird R W downgraded shares of OneWater Marine from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Stifel Nicolaus lowered their target price on shares of OneWater Marine from $31.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th. KeyCorp reduced their price target on shares of OneWater Marine from $22.00 to $16.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Robert W. Baird reissued a "neutral" rating and set a $18.00 price objective (down previously from $25.00) on shares of OneWater Marine in a research note on Friday, April 4th. Finally, Truist Financial decreased their target price on 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $19.60.

OneWater Marine Price Performance

Shares of ONEW traded up $0.68 during midday trading on Tuesday, reaching $13.94. The stock had a trading volume of 90,186 shares, compared to its average volume of 114,884. 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 $227.40 million, a price-to-earnings ratio of -19.36 and a beta of 2.33. The company's 50-day moving average is $15.98 and its 200 day moving average is $18.50. OneWater Marine Inc. has a 12-month low of $12.02 and a 12-month high of $31.36.

OneWater Marine (NASDAQ:ONEW - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate 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, equities analysts predict that OneWater Marine Inc. will post 1.57 EPS for the current fiscal year.

About OneWater Marine

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.