BlackRock Inc. Makes New $23.53 Million Investment in Latham Group, Inc. $SWIM

BlackRock Inc. purchased a new stake in Latham Group, Inc. (NASDAQ:SWIM) during the 2nd quarter, HoldingsChannel reports. The fund purchased 3,637,085 shares of the company’s stock, valued at approximately $23,532,000.

A number of other large investors have also recently modified their holdings of SWIM. BNP Paribas Financial Markets increased its position in shares of Latham Group by 83.9% in the second 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 last quarter. Raymond James Financial Inc. purchased a new stake in Latham Group in the second quarter valued at approximately $29,000. Summit Securities Group LLC bought a new stake in Latham Group during the first quarter valued at approximately $30,000. Covestor Ltd lifted its position in Latham Group by 153.0% during the fourth quarter. Covestor Ltd now owns 5,576 shares of the company’s stock valued at $35,000 after purchasing an additional 3,372 shares during the last quarter. Finally, State of Wyoming purchased a new position in Latham Group in the 4th quarter worth approximately $55,000. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SWIM. Zacks Research lowered shares of Latham Group from a “hold” rating to a “strong sell” rating in a report on Thursday, August 6th. Barclays lifted their price objective on shares of Latham Group from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of Latham Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Finally, The Goldman Sachs Group reissued a “sell” rating on shares of Latham Group in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $7.83.

Latham Group Stock Performance

Shares of NASDAQ SWIM opened at $6.87 on Thursday. The stock has a market cap of $808.26 million, a price-to-earnings ratio of 137.40, a P/E/G ratio of 1.50 and a beta of 1.72. The company has a current ratio of 2.16, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. Latham Group, Inc. has a 1-year low of $4.64 and a 1-year high of $8.97. The stock’s 50-day moving average is $6.47 and its 200 day moving average is $6.03.

Latham Group (NASDAQ:SWIM) last issued its earnings results on Tuesday, August 4th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.05). Latham Group had a return on equity of 1.31% and a net margin of 0.92%.The firm had revenue of $197.47 million during the quarter, compared to analysts’ expectations of $188.39 million. On average, sell-side analysts anticipate that Latham Group, Inc. will post 0.16 EPS for the current fiscal year.

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.