Dimensional Fund Advisors LP Raises Stock Holdings in Latham Group, Inc. $SWIM

Key Points

• Dimensional Fund Advisors increased its Latham Group stake by 16.2% in the first quarter, owning 3.37 million shares valued at approximately $18.1 million. Institutional investors collectively own 83.95% of SWIM.
• Latham Group insiders also bought shares: Director James E. Cline purchased 50,000 shares, while CFO Oliver C. Gloe acquired 15,050 shares. Corporate insiders now own 3.32% of the company.
• Analyst sentiment remains cautious, with the stock carrying a consensus “Hold” rating and a $7.50 target price. Latham recently reported $0.11 in quarterly EPS, below the $0.16 estimate, despite revenue of $197.47 million exceeding forecasts.

Dimensional Fund Advisors LP increased its holdings in shares of Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 16.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,370,146 shares of the company's stock after purchasing an additional 470,123 shares during the period. Dimensional Fund Advisors LP owned 2.88% of Latham Group worth $18,096,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC grew its stake in shares of Latham Group by 7.4% during the 1st quarter. Empowered Funds LLC now owns 405,207 shares of the company's stock worth $2,605,000 after purchasing an additional 27,916 shares during the period. Jane Street Group LLC boosted its stake in shares of Latham Group by 27.1% during the 1st quarter. Jane Street Group LLC now owns 24,894 shares of the company's stock worth $160,000 after purchasing an additional 5,315 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Latham Group by 9.9% during the second quarter. JPMorgan Chase & Co. now owns 21,950 shares of the company's stock worth $140,000 after buying an additional 1,978 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Latham Group by 2.7% during the second quarter. Rhumbline Advisers now owns 63,639 shares of the company's stock worth $406,000 after purchasing an additional 1,672 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Latham Group by 12.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,096 shares of the company's stock valued at $115,000 after buying an additional 2,038 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Latham Group news, Director James E. Cline purchased 50,000 shares of the business's stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $4.84 per share, for a total transaction of $242,000.00. Following the completion of the purchase, the director directly owned 100,000 shares in the company, valued at approximately $484,000. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Oliver C. Gloe acquired 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 completion of the acquisition, 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 position. The SEC filing for this purchase provides additional information. Corporate insiders own 3.32% of the company's stock.

Analyst Upgrades and Downgrades

SWIM has been the topic of several research reports. Bank of America cut their price objective on Latham Group from $7.00 to $6.00 and set an "underperform" rating on the stock in a research report on Monday, April 20th. Wall Street Zen downgraded shares of Latham Group from a "buy" rating to a "hold" rating in a research report on Sunday, April 12th. 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 research report on Tuesday. Two 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $7.50.

Latham Group Trading Up 3.6%

NASDAQ:SWIM opened at $7.48 on Friday. 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, Inc. has a 52 week low of $4.64 and a 52 week high of $8.97. The stock's 50 day moving average price is $5.89 and its 200 day moving average price is $5.96. The company has a market capitalization of $880.02 million, a P/E ratio of 149.60, a P/E/G ratio of 1.48 and a beta of 1.65.

Latham Group (NASDAQ:SWIM - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.05). Latham Group had a net margin of 0.92% and a return on equity of 1.32%. The business had revenue of $197.47 million during the quarter, compared to analyst estimates of $188.39 million. On average, research analysts forecast that Latham Group, Inc. will post 0.17 EPS for the current fiscal year.

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.

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