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In recent transactions, Philip Austin Singleton Jr., CEO of OneWater Marine Inc. (NASDAQ:ONEW), acquired a significant amount of the company’s Class A common stock. The purchase comes as the stock trades near its 52-week low of $14.13, having declined about 29% over the past six months. According to a recent SEC filing, Singleton purchased a total of 10,000 shares over two days, with the transactions occurring on March 12 and March 13, 2025. InvestingPro analysis indicates the stock is currently trading near its Fair Value.
The shares were acquired at a weighted average price of $16.13, with prices ranging from $15.81 to $16.25 on March 12, and from $15.91 to $16.25 on March 13. The total value of these purchases amounted to approximately $161,300. Despite recent challenges, InvestingPro data shows analysts maintain a bullish outlook, with price targets ranging from $19 to $25 per share. Get access to 8 more exclusive InvestingPro Tips and comprehensive analysis for ONEW.
This acquisition was made indirectly through Auburn OWMH, LLLP, a member of a 10% ownership group associated with Singleton. Following these transactions, Singleton’s indirect ownership through Auburn OWMH, LLLP, increased to 692,368 shares. The company, with a market capitalization of $261 million and an EBITDA of nearly $100 million in the last twelve months, shows strong free cash flow yield according to InvestingPro analysis.
In other recent news, OneWater Marine Inc. has reported its first-quarter 2025 earnings, surpassing analyst expectations with an EPS of -$0.54 compared to the anticipated -$0.86. The company also exceeded revenue forecasts, reporting $376 million against the expected $337.52 million. Despite these positive financial results, the company faced a net loss of $14 million. In a strategic move, OneWater Marine expanded its luxury yacht offerings by acquiring American Yacht Group, which reported sales of approximately $75 million in 2024. This acquisition enhances OneWater’s presence in the Southeastern U.S. and grants exclusive dealership rights for HCB Yachts in several states. Meanwhile, DA Davidson has revised its price target for OneWater Marine, lowering it to $19 from $23, while maintaining a Neutral rating on the stock. The decision reflects a cautious valuation approach due to the uncertain retail environment. These developments highlight OneWater Marine’s strategic efforts and financial performance amidst industry challenges.
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