Latham Group (NASDAQ:SWIM) Trading Down 4.3% – Time to Sell?

Latham Group, Inc. (NASDAQ:SWIM) fell 4.3% during trading on Tuesday . The company traded as low as $5.93 and last traded at $5.8450. Approximately 65,518 shares changed hands during trading, a decline of 92% from the average session volume of 856,994 shares. The stock had previously closed at $6.11.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Weiss Ratings upgraded Latham Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Bank of America reduced their price target on shares of Latham Group from $7.00 to $6.00 and set an “underperform” rating on the stock in a research report on Monday, April 20th. Barclays decreased their price objective on shares of Latham Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Wall Street Zen lowered Latham Group from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Finally, Zacks Research cut shares of Latham Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.50.

Latham Group Price Performance

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 cap of $685.67 million, a PE ratio of 83.43, a P/E/G ratio of 1.00 and a beta of 1.62. The business has a 50 day moving average of $5.67 and a 200-day moving average of $5.99.

Latham Group (NASDAQ:SWIM) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate 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 $117.31 million during the quarter, compared to analysts’ expectations of $118.39 million. Equities research analysts predict that Latham Group, Inc. will post 0.18 EPS for the current fiscal year.

Insider Activity at Latham Group

In related news, CFO Oliver C. Gloe purchased 15,050 shares of the firm’s 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 trade represents a 2.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James E. Cline bought 50,000 shares of Latham Group stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average price of $4.84 per share, with a total value of $242,000.00. Following the purchase, the director directly owned 100,000 shares in the company, valued at approximately $484,000. This trade represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.32% of the stock is owned by corporate insiders.

Institutional Trading of Latham Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its position in Latham Group by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 63,639 shares of the company’s stock worth $406,000 after purchasing an additional 1,672 shares in the last quarter. Deutsche Bank AG raised its position in shares of Latham Group by 5.1% in the 4th quarter. Deutsche Bank AG now owns 35,682 shares of the company’s stock worth $227,000 after buying an additional 1,721 shares during the period. Squarepoint Ops LLC grew its position in Latham Group by 5.5% during the third quarter. Squarepoint Ops LLC now owns 35,978 shares of the company’s stock valued at $274,000 after acquiring an additional 1,873 shares during the period. BNP Paribas Financial Markets grew its holdings 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 worth $27,000 after purchasing an additional 1,921 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Latham Group by 9.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,950 shares of the company’s stock worth $140,000 after purchasing an additional 1,978 shares during the period. Hedge funds and other institutional investors own 83.95% 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.