In a recent transaction, Philip Austin Singleton Jr., CEO of OneWater Marine Inc. (NASDAQ:ONEW), acquired 1,046 shares of the company's Class A common stock. The shares were purchased at a weighted average price of $20.85, totaling $21,809. According to InvestingPro data, this insider purchase comes as the stock trades near $22.19, with analyst price targets ranging from $23 to $31, suggesting potential upside. This acquisition was made through the Auburn OWMH, LLLP, indicating continued confidence and investment in the company. Following this transaction, Singleton holds 644,786 shares indirectly. The purchase was part of multiple transactions executed at prices ranging from $20.81 to $20.86. While the company currently operates with a significant debt burden (Debt/Equity ratio of 2.79), InvestingPro analysis reveals several additional key insights available in their comprehensive Pro Research Report, which covers what really matters for investors in OneWater Marine and 1,400+ other top stocks.
In other recent news, OneWater Marine Inc. disclosed its fiscal fourth quarter and full year 2024 results, showing resilience despite the impacts of Hurricanes Helene and Milton. The company reported a 16% decrease in total revenue to $378 million and a net loss of $10 million for the fourth quarter, a notable improvement from the previous year. The full-year operating income for 2024 was $65 million, a substantial increase from $18 million in 2023. The company ended the year with a total liquidity of $30 million and long-term debt of $423 million.
Looking ahead, OneWater Marine has projected total sales for fiscal 2025 to be between $1.7 billion and $1.85 billion, with adjusted EBITDA ranging from $80 million to $110 million. Despite a challenging market landscape due to the aftermath of recent hurricanes, the company is optimistic about the recovery of demand in the second half of 2025. It is worth noting that the company is also implementing cost-saving measures, with a $10 million cut in March and another $5 million at the end of the year, as part of its strategy for fiscal year 2025.
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