Rice Hall James & Associates LLC Makes New $4.84 Million Investment in Latham Group, Inc. $SWIM

Rice Hall James & Associates LLC acquired a new stake in shares of Latham Group, Inc. (NASDAQ:SWIM) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 747,843 shares of the company’s stock, valued at approximately $4,839,000. Rice Hall James & Associates LLC owned approximately 0.64% of Latham Group as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SWIM. Bank of New York Mellon Corp purchased a new position in shares of Latham Group in the 2nd quarter valued at approximately $936,000. State of Wyoming bought a new stake in shares of Latham Group during the second quarter valued at approximately $75,000. Walleye Capital LLC purchased a new stake in Latham Group in the second quarter worth $174,000. Renaissance Technologies LLC grew its stake in Latham Group by 9.0% in the first quarter. Renaissance Technologies LLC now owns 497,500 shares of the company’s stock worth $2,672,000 after purchasing an additional 41,100 shares during the period. Finally, Modern Wealth Management LLC raised its holdings in Latham Group by 28.3% in the first quarter. Modern Wealth Management LLC now owns 16,814 shares of the company’s stock worth $90,000 after purchasing an additional 3,712 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Latham Group Stock Performance

Latham Group stock opened at $7.13 on Tuesday. Latham Group, Inc. has a twelve month low of $4.64 and a twelve month high of $8.97. 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 company has a market capitalization of $838.84 million, a P/E ratio of 142.60, a PEG ratio of 1.60 and a beta of 1.65. The stock’s 50 day moving average is $6.14 and its 200 day moving average is $5.98.

Latham Group (NASDAQ:SWIM) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Latham Group had a net margin of 0.92% and a return on equity of 1.31%. The company had revenue of $197.47 million for the quarter, compared to analysts’ expectations of $188.39 million. On average, equities research analysts predict that Latham Group, Inc. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SWIM has been the subject of several recent research reports. Barclays raised their price objective on Latham Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Latham Group in a research report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Latham Group in a research note on Tuesday, August 4th. Bank of America lowered their price target on shares of Latham Group from $7.00 to $6.00 and set an “underperform” rating for the company in a research report on Monday, April 20th. Finally, Zacks Research lowered shares of Latham Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Latham Group presently has a consensus rating of “Reduce” and an average target price of $7.83.

Insider Transactions at Latham Group

In other news, CFO Oliver C. Gloe acquired 15,050 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost of $4.90 per share, with a total value of $73,745.00. Following the transaction, the chief financial officer owned 540,758 shares of the company’s stock, valued at $2,649,714.20. This trade represents a 2.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.32% of the stock is currently owned by insiders.

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.