ONEW

OneWater Marine($ONEW) COO Acquires $1.45 Million in Shares Amid 60% Stock Decline

05/09/2025 12:41

OneWater Marine Inc. ($ONEW) Chief Operating Officer Anthony Aisquith has made a significant insider purchase last week, acquiring company shares worth approximately $1.45 million. According to SEC filings, Aisquith purchased a total of 144,964 shares at an average price of $12.30 per share on May 6th and 7th. Notably, these transactions were reported as duplicate filings for the same trades, effectively representing an acquisition of about 72,482 shares. This purchase continues a pattern of consistent insider buying at OneWater Marine. CEO Philip Austin Singleton Jr. has steadily acquired shares over the past nine months, including approximately 25,000 shares in March 2025 at prices between $15-16. Board member Jeffrey Lamkin also made substantial purchases of about 62,700 shares in August 2024 at price points between $21-22. These insider acquisitions have occurred amid a significant decline in OneWater Marine's stock price. $ONEW has fallen approximately 60% over the past year, with a particularly sharp drop in early April 2025 from the $17 range to $12-13. The stock currently trades around $12.10, close to COO Aisquith's recent purchase price of $12.23-12.38. OneWater Marine is a leading retailer of boats and marine-related products in the United States, operating through a nationwide network of dealerships. The company offers comprehensive marine leisure solutions including new and pre-owned boat sales, financing, insurance, and maintenance services. However, the company's financial performance has fallen short of expectations in recent quarters. According to Q2 2025 results announced on May 1st, OneWater Marine reported revenue of $483.52 million, a 1% year-over-year decrease, while earnings per share (EPS) fell to $0.13 from $0.67 in the previous year. These figures missed analyst expectations of $497.72 million in revenue and $0.25 EPS. By segment, service and parts (up 2.4%) and pre-owned boat sales (up 14.1%) showed growth, but new boat sales, the company's core revenue driver, declined by 5.4%. Industry experts attribute the challenging performance to persistent high interest rates and economic uncertainty negatively impacting decisions to purchase high-ticket recreational boats. The boating industry is traditionally sensitive to economic cycles, and the U.S. recreational boat market is currently experiencing a correction period following rapid growth during the COVID-19 pandemic. In June 2024, reports indicated that OneWater Marine had made a cash offer of $40 per share (a 40.4% premium to market price at that time) to acquire competitor MarineMax. While OneWater's stock rose 14.1% on this news, there have been no official announcements regarding the progress of this acquisition since then. Investors are divided on the company's future prospects. On one hand, the persistent insider buying demonstrates strong confidence from management in the company's stock. Insiders have purchased substantial quantities at average prices between $15-20, and the COO's recent large acquisition could be interpreted as a value buying signal at current price levels. On the other hand, concerns about the company's financial condition exist. Recent analysis suggests that OneWater Marine's intrinsic value is approximately $10.62, indicating the stock may be overvalued by about 27% at current prices. Warning signs have also emerged regarding the company's ability to cover debt interest payments with operating cash flow. Looking ahead, OneWater Marine projects average annual revenue growth of 3.5% over the next three years, below the 5% forecast for the U.S. specialty retail industry. The company is focusing on improving operational efficiency and expanding service offerings to enhance profitability, while exploring inventory management optimization and cost reduction strategies to address market pressures. Analysts maintain an average rating of 'buy' for OneWater Marine, with a 12-month price target of $17.00, suggesting approximately 40% upside potential from current levels. However, they caution that investors should consider various risk factors, including potential economic downturns, reduced consumer spending, and intensified competition in the marine retail space. Insider trading experts note that "substantial purchases by insiders, particularly key executives like the CEO and COO, are generally viewed as positive signals. However, investors should consider these in conjunction with the company's financial performance, industry trends, and broader economic conditions." Indeed, for OneWater Marine, the disconnect between insider buying and disappointing financial results may be a critical variable determining future stock direction.

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