Inspire Investing LLC Purchases 102,450 Shares of Latham Group, Inc. $SWIM

Inspire Investing LLC acquired a new stake in shares of Latham Group, Inc. (NASDAQ:SWIM) during the third quarter, Holdings Channel reports. The fund acquired 102,450 shares of the company’s stock, valued at approximately $638,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. WINTON GROUP Ltd bought a new position in shares of Latham Group during the second quarter worth about $72,000. Squarepoint Ops LLC grew its stake in Latham Group by 68.7% in the second quarter. Squarepoint Ops LLC now owns 574,790 shares of the company’s stock worth $3,719,000 after purchasing an additional 234,130 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Latham Group by 52.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,167 shares of the company’s stock valued at $292,000 after buying an additional 15,529 shares during the last quarter. Wellington Management Group LLP increased its holdings in Latham Group by 24.0% in the second quarter. Wellington Management Group LLP now owns 11,364,049 shares of the company’s stock valued at $73,525,000 after buying an additional 2,201,843 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in Latham Group during the second quarter valued at approximately $653,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SWIM. Zacks Research downgraded Latham Group from a “hold” rating to a “strong sell” rating in a report on Friday, October 9th. Barclays boosted their price target on Latham Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Weiss Ratings raised Latham Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. The Goldman Sachs Group restated a “sell” rating on shares of Latham Group in a research note on Monday, October 12th. Finally, William Blair cut Latham Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Latham Group currently has an average rating of “Reduce” and a consensus target price of $7.83.

Latham Group Stock Performance

Shares of NASDAQ SWIM opened at $7.05 on Thursday. The company has a quick ratio of 1.44, a current ratio of 2.16 and a debt-to-equity ratio of 0.67. The firm’s 50-day moving average price is $6.52 and its two-hundred day moving average price is $6.17. Latham Group, Inc. has a 52-week low of $4.64 and a 52-week high of $8.97. The stock has a market capitalization of $829.40 million, a P/E ratio of 141.00, a P/E/G ratio of 1.45 and a beta of 1.66.

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

Latham Group Profile

Latham Group, Inc designs, manufactures and markets residential swimming pool products. The company is best known for its in-ground fiberglass pools, which are manufactured as pre-formed shells and installed at residential properties. Its product portfolio also includes vinyl pool liners, automatic and safety pool covers, pool walls, steps, stairs and related components.

Latham serves the residential swimming pool construction and renovation markets through a network of dealers, builders and distributors.