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Philip Austin Singleton Jr., CEO of OneWater Marine Inc. (NASDAQ:ONEW), has made a significant acquisition of company shares. According to a recent SEC filing, Singleton Jr. purchased 15,000 shares of Class A common stock at an average price of $15.40 per share, totaling approximately $231,000. The purchase comes as the stock trades near its 52-week low of $14.13, with InvestingPro data showing the stock has declined about 27% over the past six months. This transaction, dated March 4, 2025, was conducted through Auburn OWMH, LLLP, a member of the 10% ownership group. Following this purchase, Singleton Jr. holds a substantial number of shares, reflecting continued confidence in OneWater Marine’s prospects. According to InvestingPro analysis, analysts maintain a positive outlook with a consensus target price range of $19-25, suggesting potential upside. Discover more insights and detailed valuation metrics with InvestingPro’s comprehensive research report, available alongside 1,400+ other top US stocks.
In other recent news, OneWater Marine reported its first-quarter 2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of -$0.54 compared to the anticipated -$0.86. The company’s revenue also exceeded forecasts, reaching $376 million against the expected $337.52 million. Despite these positive results, OneWater Marine reported a net loss of $14 million, which has been a point of concern for investors. In a strategic move, OneWater Marine announced the acquisition of American Yacht Group, expanding its luxury yacht offerings and securing exclusive dealership rights for HCB Yachts in several states. This acquisition aligns with the company’s growth strategy and is expected to enhance its premium yacht offerings.
Meanwhile, DA Davidson revised its price target for OneWater Marine, reducing it from $23.00 to $19.00, while maintaining a Neutral stance on the company’s shares. The firm cited challenges such as the impact of hurricanes and industry-wide inventory levels as reasons for the cautious valuation. OneWater Marine has maintained its fiscal 2025 guidance, projecting total sales between $1.7 billion and $1.85 billion. The company remains focused on inventory management and strategic acquisitions, with expectations for adjusted EBITDA between $80 million and $110 million.
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