Key Points
- Director James Cline bought 50,000 shares of Latham Group at $4.84 each, a $242,000 purchase that doubled his stake to 100,000 shares.
- The stock was up 2.3% and opened at $4.89, near its 1-year low of $4.64 and well below its 1-year high of $8.97.
- Latham Group recently reported a Q1 earnings miss, posting EPS of -$0.07 versus expectations of -$0.05, while analysts currently rate the stock a consensus Hold with a $7.50 price target.
Latham Group, Inc. (NASDAQ:SWIM - Get Free Report) Director James Cline purchased 50,000 shares of the company's stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $4.84 per share, with a total value of $242,000.00. Following the completion of the purchase, the director directly owned 100,000 shares in the company, valued at $484,000. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Latham Group Trading Up 2.3%
SWIM stock opened at $4.89 on Thursday. Latham Group, Inc. has a 1-year low of $4.64 and a 1-year high of $8.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.88 and a quick ratio of 1.16. The company has a market capitalization of $574.14 million, a price-to-earnings ratio of 69.86, a PEG ratio of 0.82 and a beta of 1.72. The business has a 50 day simple moving average of $5.64 and a two-hundred day simple moving average of $6.29.
Latham Group (NASDAQ:SWIM - Get Free Report) last posted its quarterly earnings results 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). Latham Group had a return on equity of 2.13% and a net margin of 1.55%.The business had revenue of $117.32 million during the quarter, compared to the consensus estimate of $118.39 million. Research analysts anticipate that Latham Group, Inc. will post 0.18 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Stifel Nicolaus upped their price target on Latham Group from $8.75 to $9.50 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. Barclays dropped their price target on Latham Group from $8.00 to $7.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 8th. Bank of America dropped their price target on Latham Group from $7.00 to $6.00 and set an "underperform" rating for the company in a research note on Monday, April 20th. The Goldman Sachs Group reiterated a "sell" rating on shares of Latham Group in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded 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 given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Latham Group presently has an average rating of "Hold" and a consensus price target of $7.50.
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Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of SWIM. BNP Paribas Financial Markets boosted its position in shares of Latham Group by 83.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company's stock valued at $27,000 after acquiring an additional 1,921 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Latham Group during the 2nd quarter valued at approximately $29,000. Summit Securities Group LLC bought a new position in shares of Latham Group during the 1st quarter valued at approximately $30,000. Covestor Ltd boosted 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 valued at $35,000 after acquiring an additional 3,372 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Latham Group during the 3rd quarter valued at approximately $47,000. 83.95% of the stock is currently owned by institutional investors.
Latham Group Company Profile
(
Get Free Report)
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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