Auburn OWMH, LLLP buys $76.8k of OneWater Marine stock

In a recent transaction, Auburn OWMH, LLLP, a member of the 10% ownership group, purchased $76,800 worth of Class A common stock of OneWater Marine Inc. (NASDAQ:ONEW). This purchase was made at a weighted average price of $23.04 per share, with the price range for these multiple transactions being between $22.79 and $23.17.

The acquisition by Auburn OWMH, LLLP, which is part of a group holding more than 10% of OneWater Marine Inc., involved the purchase of 3,334 shares. Following this transaction, the total number of shares owned by the group stands at 613,517. The shares were acquired indirectly by Auburn OWMH, LLLP, indicating that the ownership is not direct but rather through an entity.

This recent purchase demonstrates a significant investment by a major stakeholder in OneWater Marine Inc., a company known for retailing auto and home supply stores. Investors might see this move as a sign of confidence from the ownership group in the company's current valuation and future prospects.

OneWater Marine Inc. has not made any further comments regarding this transaction. Interested parties, including other shareholders and the Securities and Exchange Commission, can request detailed information about the exact number of shares bought at each specific price within the mentioned range.

In other recent news, OneWater Marine reported fiscal third-quarter earnings for 2024, which did not meet expectations due to a decline in sales. This downturn was primarily caused by adverse weather conditions in Texas and a general industry slump. Despite a significant decrease in sales for the quarter, there are indications of stabilization in July. In response to these market conditions, OneWater Marine has revised its full-year outlook, projecting a mid-single-digit decrease in unit sales and same-store sales.

The company's CEO, Austin Singleton, remains optimistic about future growth and emphasized efficiency measures and an active M&A strategy as key elements of the company's plan. OneWater Marine is also focusing on inventory management and cost optimization. While no formal guidance has been provided for fiscal 2025, the decisions made are expected to position the company for profitable growth in that fiscal year.

Regarding analyst notes, consumers have been delaying purchases due to new interest rate environments, and the industry experienced a softness in June. However, improved sales trends in July suggest a potential market recovery. These are recent developments that investors should keep an eye on.

InvestingPro Insights

Amidst the recent purchase by Auburn OWMH, LLLP, investors are closely monitoring OneWater Marine Inc. (NASDAQ:ONEW). The company's stock has experienced significant volatility, a trend that aligns with one of the InvestingPro Tips which highlights the stock's high price volatility. This may be of interest to investors who are weighing the potential risk and reward of investing in the company's shares.

Despite the confidence shown by the significant stakeholder, OneWater Marine Inc. operates with a substantial debt burden, as pointed out in another InvestingPro Tip. This could be a crucial consideration for investors who prioritize financial stability and debt management in their investment decisions. The company's net income is expected to grow this year, which could be a positive signal for future profitability.

From the InvestingPro Data, the company's market capitalization stands at 401.26 million USD, which provides a sense of the company's size in the financial market. The Price/Earnings (P/E) ratio is currently negative at -3.79, reflecting the company's recent lack of profitability over the last twelve months. However, analysts predict the company will turn profitable this year, which may influence the P/E ratio positively in the future. The Price to Book (P/B) ratio, as of the last twelve months leading up to Q3 2024, is 1.09, which could suggest that the stock is reasonably valued in relation to the company's book value.

For investors seeking more detailed analysis and additional InvestingPro Tips, there are currently six more tips listed on InvestingPro that can provide further insights into OneWater Marine Inc.'s financial health and stock performance (https://www.investing.com/pro/ONEW).

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