ABS Direct Equity Fund LLC Acquires New Stake in Latham Group, Inc. (NASDAQ:SWIM)

ABS Direct Equity Fund LLC bought a new position in Latham Group, Inc. (NASDAQ:SWIM) during the 4th quarter, Holdings Channel reports. The institutional investor bought 69,352 shares of the company’s stock, valued at approximately $182,000.

Several other hedge funds have also added to or reduced their stakes in SWIM. Victory Capital Management Inc. raised its position in shares of Latham Group by 66.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,997,115 shares of the company’s stock worth $5,592,000 after purchasing an additional 797,733 shares during the last quarter. Voss Capital LLC raised its holdings in Latham Group by 52.1% in the fourth quarter. Voss Capital LLC now owns 1,922,639 shares of the company’s stock worth $5,057,000 after buying an additional 658,280 shares during the last quarter. Natixis Advisors L.P. lifted its stake in shares of Latham Group by 50.1% in the fourth quarter. Natixis Advisors L.P. now owns 877,079 shares of the company’s stock worth $2,306,000 after buying an additional 292,885 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Latham Group by 60.3% during the third quarter. Panagora Asset Management Inc. now owns 194,680 shares of the company’s stock valued at $545,000 after buying an additional 73,248 shares during the last quarter. Finally, ELCO Management Co. LLC bought a new stake in shares of Latham Group during the third quarter valued at approximately $118,000. 83.95% of the stock is owned by institutional investors.

Latham Group Stock Up 8.1 %

Shares of SWIM traded up $0.21 during mid-day trading on Friday, hitting $2.81. 191,911 shares of the company traded hands, compared to its average volume of 239,409. The stock has a 50-day moving average price of $3.28 and a two-hundred day moving average price of $2.78. Latham Group, Inc. has a 1 year low of $2.04 and a 1 year high of $4.77. The company has a quick ratio of 1.64, a current ratio of 2.77 and a debt-to-equity ratio of 0.70.

Latham Group (NASDAQ:SWIM) last announced its earnings results on Tuesday, March 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The business had revenue of $90.90 million during the quarter, compared to analyst estimates of $86.95 million. Latham Group had a negative net margin of 0.42% and a negative return on equity of 0.62%. The company’s quarterly revenue was down 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) EPS. On average, equities analysts forecast that Latham Group, Inc. will post -0.24 earnings per share for the current year.

Insider Transactions at Latham Group

In other news, CEO Scott Michael Rajeski sold 24,913 shares of Latham Group stock in a transaction on Monday, March 4th. The shares were sold at an average price of $3.05, for a total transaction of $75,984.65. Following the transaction, the chief executive officer now owns 266,143 shares in the company, valued at approximately $811,736.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Latham Group news, COO Sanjeev Bahl sold 10,342 shares of Latham Group stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $3.05, for a total transaction of $31,543.10. Following the transaction, the chief operating officer now owns 126,713 shares of the company’s stock, valued at $386,474.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Michael Rajeski sold 24,913 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $3.05, for a total transaction of $75,984.65. Following the completion of the sale, the chief executive officer now directly owns 266,143 shares of the company’s stock, valued at $811,736.15. The disclosure for this sale can be found here. Insiders have sold 54,383 shares of company stock worth $165,868 in the last quarter. Company insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

SWIM has been the topic of several analyst reports. Stifel Nicolaus raised Latham Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $3.00 to $4.00 in a research report on Monday, March 18th. Bank of America downgraded Latham Group from a “buy” rating to an “underperform” rating and lowered their price target for the company from $4.50 to $2.60 in a report on Wednesday, March 13th.

Latham Group Company Profile

Latham Group, Inc designs, manufactures, and markets in-ground residential swimming pools in North America, Australia, and New Zealand. It offers a portfolio of pools and related products, including in-ground swimming pools that include fiber glass and packaged pools; and pool covers and liners under the Latham, Narellan, CoverStar, Radiant, and GLI brand names.