Latham Group (NASDAQ:SWIM) Trading Down 4.3% – Here’s What Happened

Latham Group, Inc. (NASDAQ:SWIM) fell 4.3% during mid-day trading on Tuesday . The company traded as low as $5.93 and last traded at $5.8450. Approximately 65,518 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 856,994 shares. The stock had previously closed at $6.11.

Analysts Set New Price Targets

SWIM has been the subject of several analyst reports. Wall Street Zen downgraded Latham Group from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Barclays dropped their price target on Latham Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Zacks Research lowered shares of Latham Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Bank of America reduced their price objective on shares of Latham Group from $7.00 to $6.00 and set an “underperform” rating for the company in a research note on Monday, April 20th. Finally, The Goldman Sachs Group reiterated a “sell” rating on shares of Latham Group in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.50.

Latham Group Trading Down 4.3%

The firm has a market capitalization of $686.26 million, a price-to-earnings ratio of 83.64, a price-to-earnings-growth ratio of 1.01 and a beta of 1.62. The company has a fifty day moving average price of $5.64 and a 200-day moving average price of $6.00. The company has a current ratio of 1.88, a quick ratio of 1.16 and a debt-to-equity ratio of 0.70.

Latham Group (NASDAQ:SWIM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The firm had revenue of $117.31 million during the quarter, compared to analyst estimates of $118.39 million. Latham Group had a return on equity of 2.13% and a net margin of 1.55%. On average, equities research analysts predict that Latham Group, Inc. will post 0.18 EPS for the current year.

Insider Buying and Selling at Latham Group

In related news, CFO Oliver C. Gloe bought 15,050 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $4.90 per share, for a total transaction of $73,745.00. Following the completion of the acquisition, the chief financial officer directly owned 540,758 shares in the company, valued at approximately $2,649,714.20. This represents a 2.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Cline bought 50,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $4.84 per share, for a total transaction of $242,000.00. Following the completion of the acquisition, the director owned 100,000 shares of the company’s stock, valued at approximately $484,000. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in Latham Group by 9.0% in the 1st quarter. Renaissance Technologies LLC now owns 497,500 shares of the company’s stock worth $2,672,000 after purchasing an additional 41,100 shares during the last quarter. Modern Wealth Management LLC grew its holdings in Latham Group by 28.3% during the first quarter. Modern Wealth Management LLC now owns 16,814 shares of the company’s stock valued at $90,000 after purchasing an additional 3,712 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Latham Group by 293.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 431,239 shares of the company’s stock valued at $2,316,000 after purchasing an additional 321,577 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Latham Group in the first quarter valued at approximately $320,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Latham Group by 16.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,370,146 shares of the company’s stock worth $18,096,000 after buying an additional 470,123 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Latham Group Company Profile

Latham Group, Inc designs, manufactures and supplies a broad range of aquatic products and services for residential and commercial applications. Offerings include fiberglass and vinyl-liner pool shells, commercial water park structures, water slides, surf simulators, pumps, filters, heaters and sanitation systems. The company also provides parts, equipment and technical support for pool installation, maintenance and repair.

Operating across three core segments—commercial, residential and aftermarket—Latham delivers turnkey aquatic facilities and attractions for municipal, hospitality and resort clients, offers packaged pool kits and equipment packages to builders and dealers, and supplies replacement parts, service contracts and technical assistance to support ongoing pool operations.

Headquartered in the United States, Latham Group maintains manufacturing and distribution centers throughout North America and Europe.