Latham Group, Inc. $SWIM Shares Sold by AYAL Capital Advisors Ltd

Key Points

• AYAL Capital Advisors Ltd cut its Latham Group stake by 64.7% in the fourth quarter, selling 550,010 shares and ending with 300,000 shares worth about $1.9 million.
• Latham Group recently reported mixed quarterly results, posting a smaller-than-expected loss per share of $0.07 on revenue of $117.3 million, both slightly below analyst estimates.
• Despite analyst caution and a consensus Hold rating, Latham has seen insider buying from CFO Oliver C. Gloe and Director James E. Cline, while institutional investors still own 83.95% of the stock.

AYAL Capital Advisors Ltd lessened its holdings in shares of Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 64.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 300,000 shares of the company's stock after selling 550,010 shares during the period. AYAL Capital Advisors Ltd owned 0.26% of Latham Group worth $1,905,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SWIM. Citadel Advisors LLC grew its stake in Latham Group by 206.5% during the 3rd quarter. Citadel Advisors LLC now owns 4,620,114 shares of the company's stock worth $35,159,000 after buying an additional 3,112,708 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Latham Group by 36.7% in the third quarter. Vanguard Group Inc. now owns 3,257,228 shares of the company's stock valued at $24,788,000 after buying an additional 873,903 shares in the last quarter. Wasatch Advisors LP raised its holdings in Latham Group by 29.5% during the second quarter. Wasatch Advisors LP now owns 3,116,247 shares of the company's stock worth $19,882,000 after purchasing an additional 709,368 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Latham Group by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,900,023 shares of the company's stock worth $18,414,000 after purchasing an additional 158,304 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in Latham Group during the third quarter worth $16,232,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Latham Group Trading Up 2.9%

Shares of NASDAQ SWIM opened at $5.62 on Thursday. The stock's 50 day moving average price is $5.54 and its two-hundred day moving average price is $6.10. Latham Group, Inc. has a 52-week low of $4.64 and a 52-week high of $8.97. The stock has a market capitalization of $659.86 million, a P/E ratio of 80.29, a PEG ratio of 0.93 and a beta of 1.67. The company has a quick ratio of 1.16, a current ratio of 1.88 and a debt-to-equity ratio of 0.70.

Latham Group (NASDAQ:SWIM - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $117.32 million for the quarter, compared to analyst estimates of $118.39 million. Latham Group had a net margin of 1.55% and a return on equity of 2.13%. On average, analysts anticipate that Latham Group, Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

SWIM has been the subject of a number of analyst reports. Bank of America cut their price target on Latham Group from $7.00 to $6.00 and set an "underperform" rating for the company in a report on Monday, April 20th. Wall Street Zen downgraded Latham Group from a "buy" rating to a "hold" rating in a research report on Sunday, April 12th. William Blair reissued an "outperform" rating on shares of Latham Group in a research report on Wednesday, March 4th. Weiss Ratings raised Latham Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group reaffirmed a "sell" rating on shares of Latham Group in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $7.50.

Insider Buying and Selling

In other Latham Group news, CFO Oliver C. Gloe acquired 15,050 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost of $4.90 per share, with a total value of $73,745.00. Following the acquisition, the chief financial officer directly owned 540,758 shares of the company's stock, valued at $2,649,714.20. This represents a 2.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Cline acquired 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $4.84 per share, with a total value of $242,000.00. Following the completion of the acquisition, the director directly owned 100,000 shares in the company, valued at approximately $484,000. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.32% of the stock is currently owned by corporate insiders.

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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