Roy J. Steven, a director at OneWater Marine Inc. (NASDAQ:ONEW), has recently purchased 2,500 shares of the company's Class A common stock. The acquisition occurred on November 20, with shares bought at a price of $19.05 each, totaling approximately $47,625. Following this transaction, Steven holds a total of 20,760 shares in the company. This move comes as part of a recent filing with the Securities and Exchange Commission, providing transparency into insider trading activities at the retail-auto and home supply stores company headquartered in Buford, Georgia.
In other recent news, OneWater Marine has reported its fiscal fourth quarter and full year 2024 results amidst recovery from Hurricanes Helene and Milton. Despite a 16% drop in total revenue to $378 million and a net loss of $10 million, the company showed signs of resilience with all retail locations now operational. Notably, the net loss marked an improvement from the previous year, and the company is projecting total sales between $1.7 billion and $1.85 billion for fiscal 2025. Analysts from the firm noted the company's efforts in managing debt levels and optimizing costs and inventory while navigating hurricane impacts. The company's CFO, Jack Ezzell, discussed the impact of restructuring charges on new boat costs, expecting margins to return to around 17%. Additionally, despite the challenges, there is consistent demand for pre-owned boats, with a significant inventory shortage in that market. These are among the recent developments concerning OneWater Marine.
InvestingPro Insights
Roy J. Steven's recent purchase of OneWater Marine Inc. (NASDAQ:ONEW) shares comes at a time when the company's stock has experienced significant volatility. According to InvestingPro data, ONEW's stock has taken a substantial hit over the last week, with a 1-week price total return of -12.34%. This decline is part of a broader trend, as the stock has fallen by 21.18% over the past three months and 26% over the last six months.
Despite these challenges, InvestingPro Tips suggest that net income is expected to grow this year, and analysts predict the company will be profitable. This optimism is reflected in the company's adjusted P/E ratio of 32.32 for the last twelve months as of Q4 2024, indicating that investors are willing to pay a premium for potential future earnings growth.
However, it's worth noting that OneWater Marine operates with a significant debt burden, which could impact its financial flexibility. The company's price-to-book ratio of 0.89 suggests that the stock may be undervalued relative to its book value, potentially aligning with the director's decision to increase his stake.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for OneWater Marine, providing a deeper understanding of the company's financial health and market position.
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