Congruence Capital LLC Invests $1.28 Million in Latham Group, Inc. $SWIM

Congruence Capital LLC purchased a new position in shares of Latham Group, Inc. (NASDAQ:SWIM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 201,243 shares of the company’s stock, valued at approximately $1,278,000. Latham Group accounts for 0.5% of Congruence Capital LLC’s investment portfolio, making the stock its 28th biggest holding. Congruence Capital LLC owned about 0.17% of Latham Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of Latham Group by 83.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company’s stock worth $27,000 after purchasing an additional 1,921 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Latham Group during the 2nd quarter worth $29,000. Covestor Ltd grew its holdings in shares of Latham Group by 153.0% during the 4th quarter. Covestor Ltd now owns 5,576 shares of the company’s stock worth $35,000 after purchasing an additional 3,372 shares during the period. State of Wyoming purchased a new position in shares of Latham Group during the 4th quarter worth $55,000. Finally, waypoint wealth counsel purchased a new position in shares of Latham Group during the 4th quarter worth $64,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Latham Group Price Performance

SWIM stock opened at $5.60 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.88 and a quick ratio of 1.16. The firm has a market capitalization of $657.50 million, a P/E ratio of 80.00, a P/E/G ratio of 0.96 and a beta of 1.67. The business’s 50-day moving average is $5.52 and its two-hundred day moving average is $6.14. Latham Group, Inc. has a 1 year low of $4.64 and a 1 year high of $8.97.

Latham Group (NASDAQ:SWIM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The company had revenue of $117.32 million during the quarter, compared to analyst estimates of $118.39 million. Latham Group had a net margin of 1.55% and a return on equity of 2.13%. Analysts anticipate that Latham Group, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Latham Group

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

Analyst Upgrades and Downgrades

SWIM has been the topic of several research reports. Wall Street Zen lowered Latham Group from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Zacks Research lowered Latham Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. William Blair reissued an “outperform” rating on shares of Latham Group in a research note on Wednesday, March 4th. Weiss Ratings raised Latham Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group reissued a “sell” rating on shares of Latham Group in a research note on Wednesday, May 6th. Two 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’s stock. Based on data from MarketBeat, Latham Group currently has an average 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.