Latham Group, Inc. $SWIM Shares Sold by Ewing Morris & Co. Investment Partners Ltd.

Key Points

• Ewing Morris & Co. Investment Partners Ltd. cut its Latham Group stake by 63.5% in the second quarter, selling 368,199 shares and retaining 211,459 shares valued at approximately $1.37 million.
• Latham Group reported quarterly revenue of $197.47 million, exceeding estimates, but earnings per share of $0.11 fell short of the $0.16 consensus forecast. The stock opened at $6.87, with 83.95% of shares held by institutional investors and hedge funds.
• Analyst sentiment remains cautious: ratings include two Buys, two Holds and three Sells, resulting in a consensus “Reduce” rating and an average price target of $7.83.

Ewing Morris & Co. Investment Partners Ltd. lowered its position in shares of Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 63.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 211,459 shares of the company's stock after selling 368,199 shares during the period. Ewing Morris & Co. Investment Partners Ltd. owned approximately 0.18% of Latham Group worth $1,368,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Empowered Funds LLC boosted its stake in shares of Latham Group by 7.4% in the first quarter. Empowered Funds LLC now owns 405,207 shares of the company's stock valued at $2,605,000 after purchasing an additional 27,916 shares during the period. Jane Street Group LLC increased its stake in 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 buying an additional 5,315 shares during the period. JPMorgan Chase & Co. increased its stake in Latham Group by 9.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,950 shares of the company's stock worth $140,000 after buying an additional 1,978 shares during the period. Rhumbline Advisers lifted its holdings in Latham Group by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 63,639 shares of the company's stock worth $406,000 after buying an additional 1,672 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted 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 worth $115,000 after buying an additional 2,038 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Latham Group Trading Down 0.1%

NASDAQ SWIM opened at $6.87 on Thursday. The company has a market capitalization of $808.26 million, a price-to-earnings ratio of 137.40, a price-to-earnings-growth 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, Inc. has a 12 month low of $4.64 and a 12 month high of $8.97. The company's fifty day moving average price is $6.47 and its two-hundred day moving average price is $6.03.

Latham Group (NASDAQ:SWIM - Get Free Report) last issued 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 1.31%. The company had revenue of $197.47 million during the quarter, compared to analyst estimates of $188.39 million. As a group, research analysts predict that Latham Group, Inc. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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