3,637,085 Shares in Latham Group, Inc. $SWIM Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 3.64 million shares of Latham Group during the second quarter, worth approximately $23.5 million and representing a 3.10% stake. Institutional investors collectively own 83.95% of SWIM.
• Latham Group reported quarterly revenue of $197.5 million, exceeding estimates, but earnings per share of $0.11 fell short of the $0.16 consensus forecast. The company’s net margin was 0.92%.
• Analyst sentiment remains cautious, with an average “Reduce” rating and a consensus price target of $7.83; recent actions included a Zacks downgrade to “strong sell” and a Barclays target increase to $8.00 with an “equal weight” rating.

BlackRock Inc. acquired a new stake in Latham Group, Inc. (NASDAQ:SWIM - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,637,085 shares of the company's stock, valued at approximately $23,532,000. BlackRock Inc. owned 3.10% of Latham Group as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its position in shares of Latham Group by 83.9% in the second quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company's stock valued at $27,000 after purchasing an additional 1,921 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Latham Group during the 2nd quarter valued at approximately $29,000. Summit Securities Group LLC bought a new position in Latham Group in the 1st quarter worth approximately $30,000. Covestor Ltd grew its stake in Latham Group by 153.0% in the 4th quarter. Covestor Ltd now owns 5,576 shares of the company's stock valued at $35,000 after buying an additional 3,372 shares in the last quarter. Finally, State of Wyoming purchased a new position in Latham Group in the 4th quarter valued at approximately $55,000. Institutional investors own 83.95% of the company's stock.

Latham Group Price Performance

Shares of NASDAQ:SWIM opened at $6.87 on Thursday. The company has a 50 day moving average of $6.47 and a 200 day moving average of $6.03. The stock has a market cap of $808.26 million, a P/E ratio of 137.40, a P/E/G ratio of 1.50 and a beta of 1.72. Latham Group, Inc. has a 12 month low of $4.64 and a 12 month high of $8.97. The company has a current ratio of 2.16, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67.

Latham Group (NASDAQ:SWIM - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.05). Latham Group had a return on equity of 1.31% and a net margin of 0.92%.The firm had revenue of $197.47 million for the quarter, compared to the consensus estimate of $188.39 million. As a group, sell-side analysts forecast that Latham Group, Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SWIM has been the topic of several recent research reports. Zacks Research downgraded Latham Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 6th. The Goldman Sachs Group reaffirmed a "sell" rating on shares of Latham Group in a report on Wednesday, May 6th. Weiss Ratings upgraded Latham Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 18th. Finally, Barclays boosted their price objective on Latham Group from $7.00 to $8.00 and gave the company an "equal weight" rating in a research note on Monday, August 10th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Latham Group currently has an average rating of "Reduce" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source