Arrowstreet Capital Limited Partnership Acquires 321,577 Shares of Latham Group, Inc. $SWIM

Key Points

• Arrowstreet Capital significantly increased its Latham Group stake by purchasing 321,577 shares in the first quarter, bringing its total holdings to 431,239 shares valued at approximately $2.3 million. Institutional investors collectively own 83.95% of SWIM.
• Latham Group insiders also bought shares: CFO Oliver Gloe purchased 15,050 shares and Director James Cline acquired 50,000 shares. Corporate insiders now own 3.32% of the company.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $7.50 price target. The stock opened at $5.70, while the company’s latest quarterly earnings of $0.11 per share missed estimates despite revenue exceeding expectations.

Arrowstreet Capital Limited Partnership increased its stake in Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 293.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 431,239 shares of the company's stock after buying an additional 321,577 shares during the period. Arrowstreet Capital Limited Partnership owned 0.37% of Latham Group worth $2,316,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in Latham Group by 83.9% in the second quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company's stock worth $27,000 after buying an additional 1,921 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Latham Group during the 2nd quarter worth $29,000. Summit Securities Group LLC acquired a new position in Latham Group during the 1st quarter valued at about $30,000. Covestor Ltd raised its stake in Latham Group by 153.0% in the fourth quarter. Covestor Ltd now owns 5,576 shares of the company's stock valued at $35,000 after buying an additional 3,372 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Latham Group in the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Buying and Selling at Latham Group

In related news, CFO Oliver C. Gloe purchased 15,050 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $4.90 per share, with a total value of $73,745.00. Following the transaction, the chief financial officer 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Cline acquired 50,000 shares of Latham Group stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $4.84 per share, with a total value of $242,000.00. Following the purchase, the director directly owned 100,000 shares in the company, valued at approximately $484,000. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. 3.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SWIM shares. Weiss Ratings upgraded Latham Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. Barclays lowered their target price on shares of Latham Group from $8.00 to $7.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 8th. The Goldman Sachs Group reissued a "sell" rating on shares of Latham Group in a research report on Wednesday, May 6th. Bank of America cut their price target on shares of Latham Group from $7.00 to $6.00 and set an "underperform" rating on the stock in a research note on Monday, April 20th. Finally, Wall Street Zen cut shares of Latham Group from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.50.

Latham Group Stock Performance

Shares of NASDAQ SWIM opened at $5.70 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.16 and a debt-to-equity ratio of 0.70. Latham Group, Inc. has a 12 month low of $4.64 and a 12 month high of $8.97. The company has a 50 day simple moving average of $5.77 and a two-hundred day simple moving average of $5.94. The stock has a market cap of $669.24 million, a price-to-earnings ratio of 81.43, a PEG ratio of 0.96 and a beta of 1.65.

Latham Group (NASDAQ:SWIM - Get Free Report) last released its quarterly earnings data 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 2.13% and a net margin of 1.55%.The business had revenue of $197.47 million during the quarter, compared to analyst estimates of $188.39 million. As a group, analysts predict that Latham Group, Inc. will post 0.18 earnings per share for the current year.

Latham Group Company 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.

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