Latham Group, Inc. $SWIM Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management increased its Latham Group stake by 24% in the second quarter, acquiring 2.2 million additional shares and bringing its ownership to 9.66%. Institutional investors collectively hold 83.95% of SWIM.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce” and an average price target of $7.83, despite Barclays raising its target to $8.00.
• Latham Group reported quarterly earnings of $0.11 per share, missing the $0.16 consensus estimate, while revenue of $197.47 million exceeded expectations. Shares opened at $6.87, with a 12-month range of $4.64 to $8.97.

Wellington Management Group LLP grew its position in shares of Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 24.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,364,049 shares of the company's stock after purchasing an additional 2,201,843 shares during the period. Wellington Management Group LLP owned 9.66% of Latham Group worth $73,525,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SWIM. Congruence Capital LLC acquired a new stake in Latham Group in the 4th quarter worth about $1,278,000. CenterBook Partners LP increased its position in shares of Latham Group by 21.0% in the fourth quarter. CenterBook Partners LP now owns 1,245,337 shares of the company's stock worth $7,908,000 after acquiring an additional 215,774 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Latham Group by 293.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 431,239 shares of the company's stock valued at $2,316,000 after purchasing an additional 321,577 shares in the last quarter. UBS Group AG raised its holdings in shares of Latham Group by 1,709.2% during the 4th quarter. UBS Group AG now owns 955,867 shares of the company's stock valued at $6,070,000 after buying an additional 903,032 shares during the period. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Latham Group during the second quarter valued at approximately $4,839,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays lifted their target price on Latham Group from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th. Weiss Ratings raised shares of Latham Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 18th. Zacks Research cut Latham Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group reiterated a "sell" rating on shares of Latham Group in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $7.83.

Latham Group Stock Down 0.1%

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

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 the consensus estimate 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%. Equities research analysts expect that Latham Group, Inc. will post 0.16 earnings per share for the current fiscal year.

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.

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