Latham Group, Inc. $SWIM Shares Sold by Wasatch Advisors LP

Key Points

• Wasatch Advisors LP reduced its Latham Group stake by 7.2% in the first quarter, selling 198,206 shares and ending with 2.57 million shares valued at about $13.8 million.
• Analyst sentiment is mixed but cautious: the stock has an average Hold rating with a consensus price target of $7.50, and recent moves included Barclays cutting its target to $7.00.
• Latham Group recently missed earnings expectations, reporting an EPS loss of $0.07 versus an expected loss of $0.05, while revenue came in slightly below estimates at $117.31 million.

Wasatch Advisors LP cut its stake in shares of Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 7.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,571,488 shares of the company's stock after selling 198,206 shares during the quarter. Wasatch Advisors LP owned approximately 2.20% of Latham Group worth $13,809,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in Latham Group by 83.9% in the second quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company's stock worth $27,000 after acquiring an additional 1,921 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Latham Group in the 2nd quarter valued at $29,000. Covestor Ltd lifted its position in shares of Latham Group by 153.0% during the 4th quarter. Covestor Ltd now owns 5,576 shares of the company's stock worth $35,000 after purchasing an additional 3,372 shares during the last quarter. State of Wyoming purchased a new stake in shares of Latham Group during the 4th quarter worth $55,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Latham Group during the fourth quarter worth $60,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SWIM has been the topic of a number of analyst reports. Barclays cut their price target on Latham Group from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. Zacks Research lowered Latham Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 3rd. William Blair restated an "outperform" rating on shares of Latham Group in a research note on Wednesday, March 4th. Wall Street Zen downgraded Latham Group from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. Finally, Weiss Ratings upgraded shares of Latham Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Latham Group has an average rating of "Hold" and an average price target of $7.50.

Latham Group Stock Up 1.1%

Latham Group stock opened at $6.41 on Friday. Latham Group, Inc. has a twelve month low of $4.64 and a twelve month high of $8.97. The stock has a 50 day moving average of $5.57 and a two-hundred day moving average of $6.05. The company has a current ratio of 1.88, a quick ratio of 1.16 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $752.60 million, a price-to-earnings ratio of 91.57, a PEG ratio of 1.09 and a beta of 1.67.

Latham Group (NASDAQ:SWIM - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.02). Latham Group had a net margin of 1.55% and a return on equity of 2.13%. The company had revenue of $117.31 million during the quarter, compared to analyst estimates of $118.39 million. As a group, research analysts expect that Latham Group, Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Latham Group

In other news, Director James E. Cline bought 50,000 shares of the stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average price 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. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Oliver C. Gloe purchased 15,050 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $4.90 per share, for a total transaction of $73,745.00. Following the completion of the purchase, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.32% of the company's stock.

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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