Revisiting OneWater Marine ($ONEW)

Reasons to trim my position

On April 2022 I wrote an article about OneWater Marine (ONEW) where I detailed why I do like this company so much and the beauty of its strategy (link here). At that time the company was trading at ~$31, it went to $43 in August 2022 and now has come back to $31 again.

(Image Source: Yahoo Finance)

This situation, together with the presentation of the FY2022 results, has made think about reviewing this company. My investment approach could be described as “buy & hold, but constantly revisiting”. I do tend to keep my positions as long as possible and to analyze companies always with a long-term view, but I also think that it is important to constantly incorporate new information to each thesis in order to act swiftly in case of any change. Stock price deterioration should never be, by itself, a reason to close a position, but it may be a trigger to review your analysis and check if something is happening and if your initial conclusions remain valid.

FY2022 Results

I have to admit that I wa…