IFP Advisors Inc Has $949,000 Holdings in Latham Group, Inc. $SWIM

IFP Advisors Inc cut its stake in Latham Group, Inc. (NASDAQ:SWIM) by 49.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 149,514 shares of the company’s stock after selling 147,112 shares during the quarter. IFP Advisors Inc’s holdings in Latham Group were worth $949,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Citadel Advisors LLC raised its holdings in shares of Latham Group by 206.5% in the 3rd quarter. Citadel Advisors LLC now owns 4,620,114 shares of the company’s stock worth $35,159,000 after buying an additional 3,112,708 shares in the last quarter. Vanguard Group Inc. increased its holdings in Latham Group by 36.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,257,228 shares of the company’s stock valued at $24,788,000 after purchasing an additional 873,903 shares in the last quarter. Wasatch Advisors LP increased its holdings in Latham Group by 29.5% during the 2nd quarter. Wasatch Advisors LP now owns 3,116,247 shares of the company’s stock valued at $19,882,000 after purchasing an additional 709,368 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Latham Group by 4.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,741,719 shares of the company’s stock valued at $20,864,000 after purchasing an additional 118,497 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Latham Group during the 3rd quarter valued at $16,232,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director James E. Cline purchased 50,000 shares of Latham Group stock in a transaction dated Tuesday, May 19th. The shares were acquired 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Oliver C. Gloe purchased 15,050 shares of Latham Group stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $4.90 per share, for a total transaction of $73,745.00. Following the completion of the transaction, the chief financial officer directly owned 540,758 shares in the company, valued at $2,649,714.20. The trade was a 2.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.32% of the stock is currently owned by company insiders.

Latham Group Price Performance

Shares of SWIM opened at $5.22 on Monday. The firm has a market capitalization of $612.88 million, a price-to-earnings ratio of 74.57, a PEG ratio of 0.89 and a beta of 1.72. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.16 and a current ratio of 1.88. The business’s fifty day moving average price is $5.60 and its two-hundred day moving average price is $6.27. Latham Group, Inc. has a 52 week low of $4.64 and a 52 week high of $8.97.

Latham Group (NASDAQ:SWIM) last announced 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%. On average, analysts predict that Latham Group, Inc. will post 0.18 earnings per share for the current year.

Analysts Set New Price Targets

SWIM has been the subject of a number of recent analyst reports. Weiss Ratings raised Latham Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Wall Street Zen cut Latham Group from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Stifel Nicolaus raised their price target on Latham Group from $8.75 to $9.50 and gave the company a “buy” rating in a report on Wednesday, March 4th. Zacks Research cut Latham Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Latham Group in a report on Wednesday, March 4th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.50.

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.