Key Points
- Latham Group CFO Oliver Gloe bought 15,050 shares at $4.90 each, spending about $73,745 and lifting his stake by 2.86% to 540,758 shares.
- The stock rose 5.5% and opened at $5.16, but it remains well below its 52-week high of $8.97.
- The company recently missed quarterly earnings estimates, reporting a loss of $0.07 per share versus expectations for a $0.05 loss, while analysts currently rate the stock a consensus Hold with a $7.50 target price.
Latham Group, Inc. (NASDAQ:SWIM - Get Free Report) CFO Oliver Gloe acquired 15,050 shares of Latham Group stock in a transaction dated Wednesday, May 20th. The stock was bought 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 represents a 2.86% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Latham Group Stock Up 5.5%
Latham Group stock opened at $5.16 on Friday. 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 stock has a market cap of $605.84 million, a PE ratio of 73.71, a P/E/G ratio of 0.84 and a beta of 1.72. The stock's fifty day moving average is $5.62 and its two-hundred day moving average is $6.28.
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 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 business had revenue of $117.32 million during the quarter, compared to analyst estimates of $118.39 million. On average, sell-side analysts expect that Latham Group, Inc. will post 0.18 EPS for the current fiscal year.
Hedge Funds Weigh In On Latham Group
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its holdings in shares of Latham Group by 83.9% during the second quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company's stock worth $27,000 after buying an additional 1,921 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Latham Group during the second quarter worth about $29,000. Summit Securities Group LLC purchased a new position in shares of Latham Group during the first quarter worth about $30,000. Covestor Ltd grew its holdings in shares of Latham Group by 153.0% during the fourth quarter. Covestor Ltd now owns 5,576 shares of the company's stock worth $35,000 after buying an additional 3,372 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of Latham Group during the third quarter worth about $47,000. Hedge funds and other institutional investors own 83.95% of the company's stock.
Analyst Ratings Changes
A number of research firms have weighed in on SWIM. Weiss Ratings upgraded Latham Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. Zacks Research lowered Latham Group from a "strong-buy" rating to a "hold" rating in a report on Friday, April 3rd. Stifel Nicolaus raised their price objective on Latham Group from $8.75 to $9.50 and gave the stock a "buy" rating in a report on Wednesday, March 4th. The Goldman Sachs Group reaffirmed a "sell" rating on shares of Latham Group in a report on Wednesday, May 6th. Finally, Bank of America dropped their price objective on Latham Group from $7.00 to $6.00 and set an "underperform" rating on the stock in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $7.50.
Check Out Our Latest Research Report on SWIM
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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