Latham Group, Inc. $SWIM Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP reduced its stake in shares of Latham Group, Inc. (NASDAQ:SWIM) by 7.2% in the 1st quarter, HoldingsChannel reports. The firm owned 2,571,488 shares of the company’s stock after selling 198,206 shares during the quarter. Wasatch Advisors LP’s holdings in Latham Group were worth $13,809,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. CAS Investment Partners LLC purchased a new position in shares of Latham Group during the 3rd quarter worth $7,610,000. CenterBook Partners LP increased its stake in Latham Group by 21.0% in the fourth quarter. CenterBook Partners LP now owns 1,245,337 shares of the company’s stock valued at $7,908,000 after purchasing an additional 215,774 shares during the last quarter. UBS Group AG lifted its position in Latham Group by 1,709.2% during the fourth quarter. UBS Group AG now owns 955,867 shares of the company’s stock worth $6,070,000 after buying an additional 903,032 shares during the period. Congruence Capital LLC purchased a new position in Latham Group during the fourth quarter worth about $1,278,000. Finally, AdviceOne Advisory Services LLC acquired a new stake in Latham Group in the 3rd quarter worth about $991,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Latham Group news, Director James E. Cline bought 50,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average price of $4.84 per share, with a total value of $242,000.00. Following the purchase, the director owned 100,000 shares in the company, valued at approximately $484,000. The trade was a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Oliver C. Gloe bought 15,050 shares of Latham Group stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $4.90 per share, for a total transaction of $73,745.00. Following 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.32% of the company’s stock.

Latham Group Stock Up 1.1%

Shares of NASDAQ:SWIM opened at $6.41 on Friday. The stock has a 50-day simple moving average of $5.57 and a 200-day simple moving average of $6.05. The stock has a market capitalization of $752.60 million, a P/E ratio of 91.57, a PEG ratio of 1.09 and a beta of 1.67. Latham Group, Inc. has a 1 year low of $4.64 and a 1 year high of $8.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.16 and a current ratio of 1.88.

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

Analyst Ratings Changes

A number of research analysts have recently commented on SWIM shares. Zacks Research downgraded shares of Latham Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Wall Street Zen downgraded shares of Latham Group from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. William Blair reaffirmed an “outperform” rating on shares of Latham Group in a research note on Wednesday, March 4th. Stifel Nicolaus lifted their price target on shares of Latham Group from $8.75 to $9.50 and gave the company a “buy” rating in a report on Wednesday, March 4th. Finally, Weiss Ratings raised shares of Latham Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.50.

Latham Group 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.