Philip Austin Singleton Jr., CEO of OneWater Marine Inc. (NASDAQ:ONEW), has increased his stake in the company by purchasing 13,000 shares of Class A common stock. The shares were acquired at a weighted average price of $18.60, amounting to a total transaction value of approximately $241,800. This insider purchase comes as the stock trades near its 52-week low of $17.67, with shares down over 46% year-to-date. According to InvestingPro analysis, technical indicators suggest the stock is currently in oversold territory. This purchase was made through Auburn OWMH, LLLP, a member of the 10% ownership group. Following this transaction, Singleton’s indirect ownership through Auburn OWMH stands at 667,368 shares.
In addition to this acquisition, a separate transaction involving the disposition of 51,125 shares by the Austin Singleton Irrevocable Trust was reported, although it did not involve a cash transaction. Singleton’s direct holdings remain at 108,132 shares, while his indirect holdings through the Philip Singleton Irrevocable Trust total 345,678 shares.
In other recent news, OneWater Marine Inc. reported its fiscal fourth quarter and full year 2024 results, demonstrating resilience despite challenges from Hurricanes Helene and Milton. The company witnessed a 16% drop in total revenue to $378 million in the fourth quarter and a net loss of $10 million, an improvement from the previous year. All retail locations are now operational, signifying recovery. OneWater Marine’s management projects total sales for fiscal 2025 to range between $1.7 billion and $1.85 billion, with an adjusted EBITDA of $80 million to $110 million. Despite a decline in same-store sales by 7% for the full year, the company reported an improvement in operating income and a reduced net loss year-over-year. Management also expressed optimism for recovering demand in the second half of 2025, particularly in the pre-owned boats market which currently faces significant inventory shortage. These are recent developments for OneWater Marine Inc. as it navigates a challenging market landscape.
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