Latham Group (NASDAQ:SWIM) Sees Large Volume Increase – Here’s What Happened

Latham Group, Inc. (NASDAQ:SWIM) shares saw unusually-high trading volume on Thursday . Approximately 1,249,912 shares traded hands during trading, an increase of 109% from the previous session’s volume of 597,005 shares.The stock last traded at $6.1550 and had previously closed at $6.17.

Wall Street Analysts Forecast Growth

SWIM has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Latham Group in a report on Monday, December 29th. Barclays increased their price objective on shares of Latham Group from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Stifel Nicolaus set a $8.75 target price on Latham Group in a report on Wednesday, November 5th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Sell” and an average target price of $7.44.

Latham Group Trading Up 0.6%

The stock has a market cap of $723.88 million, a PE ratio of -62.24 and a beta of 1.72. The company’s fifty day moving average is $6.69 and its 200-day moving average is $7.11. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.43 and a quick ratio of 1.72.

Latham Group (NASDAQ:SWIM) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The firm had revenue of $161.90 million during the quarter, compared to analysts’ expectations of $165.35 million. Latham Group had a negative net margin of 2.07% and a negative return on equity of 2.80%. On average, analysts predict that Latham Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Atria Investments Inc acquired a new stake in Latham Group during the second quarter worth about $280,000. Voss Capital LP lifted its holdings in Latham Group by 11.0% in the 2nd quarter. Voss Capital LP now owns 6,299,042 shares of the company’s stock worth $40,188,000 after buying an additional 622,327 shares in the last quarter. Advantage Alpha Capital Partners LP grew its stake in Latham Group by 26.8% during the 2nd quarter. Advantage Alpha Capital Partners LP now owns 931,998 shares of the company’s stock valued at $5,946,000 after purchasing an additional 196,845 shares in the last quarter. AYAL Capital Advisors Ltd grew its position in shares of Latham Group by 40.9% during the second quarter. AYAL Capital Advisors Ltd now owns 800,000 shares of the company’s stock worth $5,104,000 after buying an additional 232,100 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its position in shares of Latham Group by 231.9% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 642,554 shares of the company’s stock worth $4,099,000 after purchasing an additional 448,972 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

About Latham Group

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.