Squarepoint Ops LLC Has $3.72 Million Stake in Latham Group, Inc. $SWIM

Key Points

• Squarepoint Ops increased its Latham Group stake by 68.7% in the second quarter, holding 574,790 shares worth approximately $3.72 million, or 0.49% of the company. Institutional investors and hedge funds collectively own 83.95% of SWIM.
• Latham Group reported quarterly revenue of $197.47 million, exceeding estimates of $188.39 million, but adjusted earnings of $0.11 per share missed the $0.16 consensus forecast.
• SWIM opened at $6.32, while analysts maintain a consensus “Hold” rating with an average price target of $7.83; recent ratings included upgrades from “strong sell” and “hold” perspectives.

Squarepoint Ops LLC boosted its position in Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 68.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 574,790 shares of the company's stock after purchasing an additional 234,130 shares during the period. Squarepoint Ops LLC owned 0.49% of Latham Group worth $3,719,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in shares of Latham Group by 216.4% during the fourth quarter. Wellington Management Group LLP now owns 6,749,349 shares of the company's stock worth $42,858,000 after purchasing an additional 4,616,367 shares during the last quarter. BlackRock Inc. bought a new position in Latham Group in the 2nd quarter valued at approximately $23,532,000. Citadel Advisors LLC boosted its position 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 period. Formula Growth Ltd. acquired a new stake in Latham Group during the 2nd quarter worth approximately $8,897,000. Finally, UBS Group AG grew its holdings in Latham Group by 1,709.2% during the 4th quarter. UBS Group AG now owns 955,867 shares of the company's stock worth $6,070,000 after acquiring an additional 903,032 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Latham Group Price Performance

SWIM stock opened at $6.32 on Friday. The firm has a market cap of $743.55 million, a price-to-earnings ratio of 126.40, a PEG ratio of 1.38 and a beta of 1.72. The company has a quick ratio of 1.44, a current ratio of 2.16 and a debt-to-equity ratio of 0.67. Latham Group, Inc. has a 12-month low of $4.64 and a 12-month high of $8.97. The company's fifty day simple moving average is $6.52 and its 200 day simple moving average is $6.04.

Latham Group (NASDAQ:SWIM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.11 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 firm had revenue of $197.47 million for the quarter, compared to the consensus estimate of $188.39 million. On average, analysts expect that Latham Group, Inc. will post 0.16 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on SWIM shares. Barclays upped their price target on shares of Latham Group from $7.00 to $8.00 and gave the company 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 research note on Tuesday, August 18th. Finally, Zacks Research upgraded Latham Group from a "strong sell" rating to a "hold" rating in a report on Friday, September 4th. Two equities 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 MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.83.

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.

Want to see what other hedge funds are holding SWIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Latham Group, Inc. (NASDAQ:SWIM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.