Latham Group (NASDAQ:SWIM) Announces Earnings Results, Misses Expectations By $0.05 EPS

Latham Group (NASDAQ:SWIM) announced its earnings results on Tuesday. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05), FiscalAI reports. Latham Group had a net margin of 1.55% and a return on equity of 2.13%. The firm had revenue of $197.47 million during the quarter, compared to analysts’ expectations of $188.39 million.

Latham Group Stock Performance

Shares of NASDAQ SWIM traded up $0.06 during trading on Tuesday, hitting $5.70. The company had a trading volume of 1,012,193 shares, compared to its average volume of 842,975. The stock has a 50 day simple moving average of $5.76 and a 200 day simple moving average of $5.94. The firm has a market capitalization of $669.24 million, a P/E ratio of 81.43, a price-to-earnings-growth ratio of 0.92 and a beta of 1.65. Latham Group has a 12 month low of $4.64 and a 12 month high of $8.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.16 and a current ratio of 1.88.

Wall Street Analysts Forecast Growth

SWIM has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Latham Group from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. The Goldman Sachs Group reiterated a “sell” rating on shares of Latham Group in a research report on Wednesday, May 6th. Barclays cut their target price on Latham Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Bank of America decreased their price objective on shares of Latham Group from $7.00 to $6.00 and set an “underperform” rating for the company in a report on Monday, April 20th. 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 issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.50.

Insiders Place Their Bets

In other news, Director James E. Cline acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average cost of $4.84 per share, for a total transaction of $242,000.00. Following the transaction, the director directly owned 100,000 shares of the company’s stock, valued at approximately $484,000. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Oliver C. Gloe purchased 15,050 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $4.90 per share, with a total value of $73,745.00. Following the purchase, the chief financial officer directly owned 540,758 shares in the company, valued at $2,649,714.20. This represents a 2.86% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Latham Group

A number of hedge funds have recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in Latham Group in the fourth quarter worth $97,000. Wellington Management Group LLP raised its holdings in shares of Latham Group by 216.4% in the fourth quarter. Wellington Management Group LLP now owns 6,749,349 shares of the company’s stock valued at $42,858,000 after acquiring an additional 4,616,367 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in Latham Group during the fourth quarter worth $207,000. Millennium Management LLC grew its position in shares of Latham Group by 124.0% in the 4th quarter. Millennium Management LLC now owns 151,710 shares of the company’s stock worth $963,000 after buying an additional 83,990 shares during the last quarter. Finally, Man Group plc acquired a new position in shares of Latham Group during the fourth quarter valued at about $118,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

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.