Latham Group, Inc. $SWIM Shares Sold by Voss Capital LP

Key Points

• Voss Capital LP cut its Latham Group stake by 62.6% in the fourth quarter, selling 2.725 million shares and leaving it with 1.625 million shares valued at about $10.3 million.
• Latham Group reported a slight earnings miss for the latest quarter, posting EPS of -$0.07 versus expectations of -$0.05, while revenue came in just below estimates at $117.3 million.
• Despite mixed results, the stock has seen mixed but mostly cautious analyst sentiment: the consensus rating is Hold with a $7.50 target, though insiders recently bought shares and institutional ownership remains high at 83.95%.

Voss Capital LP lessened its stake in shares of Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 62.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,625,000 shares of the company's stock after selling 2,725,000 shares during the quarter. Latham Group accounts for 0.5% of Voss Capital LP's investment portfolio, making the stock its 29th biggest position. Voss Capital LP owned 1.39% of Latham Group worth $10,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. CAS Investment Partners LLC acquired a new position in shares of Latham Group during the third quarter worth about $7,610,000. CenterBook Partners LP lifted its stake in shares of Latham Group by 21.0% during the fourth quarter. CenterBook Partners LP now owns 1,245,337 shares of the company's stock worth $7,908,000 after purchasing an additional 215,774 shares in the last quarter. UBS Group AG lifted its stake in shares of Latham Group by 1,709.2% during the fourth quarter. UBS Group AG now owns 955,867 shares of the company's stock worth $6,070,000 after purchasing an additional 903,032 shares in the last quarter. AdviceOne Advisory Services LLC acquired a new position in shares of Latham Group during the third quarter worth about $991,000. Finally, IFP Advisors Inc lifted its stake in shares of Latham Group by 100.2% during the third quarter. IFP Advisors Inc now owns 296,376 shares of the company's stock worth $2,259,000 after purchasing an additional 148,365 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Latham Group Stock Down 1.6%

Shares of Latham Group stock opened at $5.60 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.88 and a debt-to-equity ratio of 0.70. The firm has a market cap of $657.50 million, a P/E ratio of 80.00, a P/E/G ratio of 0.97 and a beta of 1.67. Latham Group, Inc. has a fifty-two week low of $4.64 and a fifty-two week high of $8.97. The business has a 50-day moving average price of $5.52 and a 200 day moving average price of $6.14.

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 for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $117.32 million during the quarter, compared to the consensus estimate of $118.39 million. Latham Group had a net margin of 1.55% and a return on equity of 2.13%. On average, sell-side analysts forecast that Latham Group, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. The Goldman Sachs Group restated a "sell" rating on shares of Latham Group in a research note on Wednesday, May 6th. Barclays dropped their target price on Latham Group from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 8th. Wall Street Zen lowered Latham Group from a "buy" rating to a "hold" rating in a research report on Sunday, April 12th. Stifel Nicolaus lifted their target price on Latham Group from $8.75 to $9.50 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings raised Latham Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $7.50.

Insider Activity

In other news, CFO Oliver C. Gloe acquired 15,050 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased 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 directly owned 540,758 shares in the company, valued at $2,649,714.20. This represents a 2.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James E. Cline acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased 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 owned 100,000 shares of the company's stock, valued at $484,000. The trade was 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 owned by insiders.

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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