CAS Investment Partners LLC Acquires Shares of 1,000,000 Latham Group, Inc. $SWIM

CAS Investment Partners LLC bought a new position in shares of Latham Group, Inc. (NASDAQ:SWIM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,000,000 shares of the company’s stock, valued at approximately $7,610,000. Latham Group accounts for 0.3% of CAS Investment Partners LLC’s portfolio, making the stock its 5th largest position. CAS Investment Partners LLC owned about 0.86% of Latham Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in shares of Latham Group by 83.9% during the second quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company’s stock valued at $27,000 after purchasing an additional 1,921 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in Latham Group during the third quarter valued at $28,000. Raymond James Financial Inc. purchased a new position in Latham Group during the second quarter valued at $29,000. State of Alaska Department of Revenue bought a new stake in shares of Latham Group during the 3rd quarter valued at $47,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Latham Group during the 2nd quarter valued at $66,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Latham Group Stock Down 1.8%

Shares of Latham Group stock opened at $6.02 on Friday. The company has a 50-day simple moving average of $6.56 and a two-hundred day simple moving average of $6.98. The stock has a market capitalization of $702.96 million, a PE ratio of 66.89, a price-to-earnings-growth ratio of 2.16 and a beta of 1.70. Latham Group, Inc. has a 52-week low of $4.56 and a 52-week high of $8.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.82 and a current ratio of 2.77.

Latham Group (NASDAQ:SWIM) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $99.95 million for the quarter, compared to analysts’ expectations of $95.86 million. Latham Group had a net margin of 2.04% and a return on equity of 2.79%. On average, analysts anticipate that Latham Group, Inc. will post -0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on SWIM. William Blair reiterated an “outperform” rating on shares of Latham Group in a research note on Wednesday, March 4th. Barclays upped 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 Wednesday, March 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Latham Group in a report on Monday, December 29th. Stifel Nicolaus boosted their price target on Latham Group from $8.75 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, Zacks Research upgraded Latham Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Latham Group currently has a consensus rating of “Hold” and an average price target of $7.33.

Latham Group 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.