Insider Buying: Latham Group (NASDAQ:SWIM) CFO Purchases 15,050 Shares of Stock

Latham Group, Inc. (NASDAQ:SWIM) CFO Oliver Gloe bought 15,050 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of $4.90 per share, with a total value of $73,745.00. Following the purchase, the chief financial officer 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Latham Group Price Performance

Shares of SWIM traded up $0.14 during midday trading on Thursday, hitting $5.03. 412,585 shares of the company traded hands, compared to its average volume of 882,476. The stock has a 50-day moving average of $5.64 and a 200-day moving average of $6.29. Latham Group, Inc. has a one year low of $4.64 and a one year high of $8.97. The firm has a market cap of $590.11 million, a P/E ratio of 71.80, a PEG ratio of 0.82 and a beta of 1.72. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.88 and a quick ratio of 1.16.

Latham Group (NASDAQ:SWIM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The firm had revenue of $117.32 million during the quarter, compared to the consensus estimate of $118.39 million. Latham Group had a net margin of 1.55% and a return on equity of 2.13%. As a group, sell-side analysts predict that Latham Group, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on SWIM. Barclays reduced their price target on shares of Latham Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. The Goldman Sachs Group reissued a “sell” rating on shares of Latham Group in a research note on Wednesday, May 6th. William Blair restated an “outperform” rating on shares of Latham Group in a research report on Wednesday, March 4th. Zacks Research lowered Latham Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Bank of America lowered their price target 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 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’s stock. Based on data from MarketBeat, Latham Group presently has an average rating of “Hold” and a consensus price target of $7.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its stake in Latham Group by 7.4% in the first quarter. Empowered Funds LLC now owns 405,207 shares of the company’s stock valued at $2,605,000 after acquiring an additional 27,916 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Latham Group by 27.1% in the 1st quarter. Jane Street Group LLC now owns 24,894 shares of the company’s stock worth $160,000 after purchasing an additional 5,315 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Latham Group by 9.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,950 shares of the company’s stock valued at $140,000 after purchasing an additional 1,978 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Latham Group by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 63,639 shares of the company’s stock valued at $406,000 after buying an additional 1,672 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Latham Group by 12.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,096 shares of the company’s stock valued at $115,000 after buying an additional 2,038 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

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.