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

Latham Group, Inc. (NASDAQ:SWIM) shares traded down 4.3% during trading on Tuesday . The stock traded as low as $5.93 and last traded at $5.8450. 65,518 shares changed hands 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen cut shares of Latham Group from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. The Goldman Sachs Group reiterated a “sell” rating on shares of Latham Group in a research note on Wednesday, May 6th. Weiss Ratings raised Latham Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Bank of America decreased their target price on 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, Zacks Research lowered Latham Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Latham Group presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Latham Group Price Performance

The company has a quick ratio of 1.16, a current ratio of 1.88 and a debt-to-equity ratio of 0.70. The stock has a market cap 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’s 50-day moving average is $5.64 and its 200-day moving average is $6.00.

Latham Group (NASDAQ:SWIM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The business had revenue of $117.31 million for the quarter, compared to the consensus estimate of $118.39 million. Latham Group had a return on equity of 2.13% and a net margin of 1.55%. Equities research analysts expect that Latham Group, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Oliver C. Gloe purchased 15,050 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $4.90 per share, with a total value of $73,745.00. Following the purchase, the chief financial officer directly owned 540,758 shares in the company, valued at $2,649,714.20. This represents a 2.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James E. Cline purchased 50,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was bought at an average price of $4.84 per share, for a total transaction of $242,000.00. Following the completion of the transaction, the director directly owned 100,000 shares of the company’s stock, valued at approximately $484,000. This trade represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SWIM. Wellington Management Group LLP grew its holdings in shares of Latham Group by 216.4% in the 4th quarter. Wellington Management Group LLP now owns 6,749,349 shares of the company’s stock worth $42,858,000 after purchasing an additional 4,616,367 shares during the last quarter. Citadel Advisors LLC lifted its holdings in Latham Group by 206.5% during the 3rd quarter. Citadel Advisors LLC now owns 4,620,114 shares of the company’s stock valued at $35,159,000 after purchasing an additional 3,112,708 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Latham Group by 16.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,370,146 shares of the company’s stock valued at $18,096,000 after buying an additional 470,123 shares in the last quarter. Vanguard Group Inc. boosted its position in Latham Group by 36.7% in the third quarter. Vanguard Group Inc. now owns 3,257,228 shares of the company’s stock valued at $24,788,000 after buying an additional 873,903 shares in the last quarter. Finally, Wasatch Advisors LP grew its stake in Latham Group by 29.5% during the second quarter. Wasatch Advisors LP now owns 3,116,247 shares of the company’s stock worth $19,882,000 after buying an additional 709,368 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

About Latham Group

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.