Perigon Wealth Management LLC Purchases Shares of 78,644 Latham Group, Inc. $SWIM

Perigon Wealth Management LLC acquired a new stake in Latham Group, Inc. (NASDAQ:SWIM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 78,644 shares of the company’s stock, valued at approximately $509,000. Perigon Wealth Management LLC owned 0.07% of Latham Group at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rice Hall James & Associates LLC bought a new stake in shares of Latham Group in the 2nd quarter valued at about $4,839,000. Bank of New York Mellon Corp bought a new position in shares of Latham Group during the 2nd quarter worth approximately $936,000. State of Wyoming acquired a new position in shares of Latham Group during the 2nd quarter worth approximately $75,000. Walleye Capital LLC bought a new stake in Latham Group in the 2nd quarter valued at $174,000. Finally, Renaissance Technologies LLC raised its stake in Latham Group by 9.0% in the 1st quarter. Renaissance Technologies LLC now owns 497,500 shares of the company’s stock valued at $2,672,000 after acquiring an additional 41,100 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Latham Group Stock Up 2.9%

NASDAQ SWIM opened at $7.19 on Thursday. The company has a current ratio of 2.16, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. The company has a market cap of $845.90 million, a price-to-earnings ratio of 143.80, a PEG ratio of 1.52 and a beta of 1.65. The company has a 50 day moving average of $6.20 and a 200-day moving average of $5.99. 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 data on Tuesday, August 4th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The company had revenue of $197.47 million for the quarter, compared to the consensus estimate of $188.39 million. Latham Group had a return on equity of 1.31% and a net margin of 0.92%. On average, equities research analysts expect that Latham Group, Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on SWIM shares. Barclays lifted their price objective on shares of Latham Group from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Zacks Research lowered shares of Latham Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 6th. The Goldman Sachs Group reissued a “sell” rating on shares of Latham Group in a report on Wednesday, May 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Latham Group in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $7.83.

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.