Philip Austin Singleton Jr., the CEO of OneWater Marine Inc. (NASDAQ:ONEW), has made notable stock purchases, according to a recent SEC filing. Singleton Jr. acquired a total of 23,518 shares of OneWater Marine, valued at approximately $448,845. These transactions took place on November 19 and 20, with purchase prices ranging between $18.74 and $19.42 per share.
The shares were acquired through Auburn OWMH, LLLP, a member of the 10% ownership group. Following these transactions, the total number of shares owned by Singleton Jr. and related entities increased to 643,740 shares. This move underscores the CEO's continued investment in the company, reflecting confidence in OneWater Marine's business prospects.
In other recent news, OneWater Marine has showcased resilience amidst post-hurricane recovery challenges. The company reported its fiscal fourth quarter and full year 2024 results, which marked a decrease in total revenue by 16% to $378 million and a net loss of $10 million. However, this represented an improvement from the previous year's loss. OneWater Marine also reported a significant rise in full-year operating income for 2024, from $18 million to $65 million.
Despite the challenges posed by Hurricanes Helene and Milton, the company is optimistic about fiscal 2025. OneWater Marine projects total sales to range between $1.7 billion and $1.85 billion, with an adjusted EBITDA of $80 million to $110 million. This outlook is supported by the company's strategic focus on cost optimization and market adaptation.
These recent developments reflect OneWater Marine's commitment to navigate a challenging market landscape while maintaining a focus on customer service and operational efficiency.
InvestingPro Insights
Philip Austin Singleton Jr.'s recent stock purchases align with several key insights from InvestingPro. According to InvestingPro data, OneWater Marine Inc. (NASDAQ:ONEW) currently has a market capitalization of $322.26 million USD, with a price-to-book ratio of 0.89 as of the last twelve months ending Q4 2024. This relatively low P/B ratio suggests that the stock might be undervalued, potentially supporting Singleton Jr.'s decision to increase his stake.
An InvestingPro Tip indicates that net income is expected to grow this year, which could be a factor in the CEO's confidence to purchase additional shares. However, it's worth noting that another InvestingPro Tip reveals that two analysts have revised their earnings downwards for the upcoming period, highlighting some uncertainty in the company's near-term financial performance.
The stock's recent performance has been challenging, with InvestingPro data showing a one-month price total return of -15.29% and a six-month return of -26.0%. These figures align with the InvestingPro Tip that the stock has fared poorly over the last month and has taken a significant hit over the last six months. Singleton Jr.'s purchases could be seen as a vote of confidence in the company's ability to overcome these short-term challenges.
For investors seeking a more comprehensive analysis, InvestingPro offers 8 additional tips for OneWater Marine Inc., providing a deeper understanding of the company's financial health and market position.
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