Formula Growth Ltd. Purchases New Shares in Latham Group, Inc. $SWIM

Formula Growth Ltd. purchased a new position in shares of Latham Group, Inc. (NASDAQ:SWIM) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,375,082 shares of the company’s stock, valued at approximately $8,897,000. Latham Group makes up approximately 3.1% of Formula Growth Ltd.’s holdings, making the stock its 2nd largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in Latham Group by 216.4% during the 4th quarter. Wellington Management Group LLP now owns 6,749,349 shares of the company’s stock worth $42,858,000 after acquiring an additional 4,616,367 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Latham Group during the second quarter worth approximately $23,532,000. Citadel Advisors LLC lifted its position in shares of Latham Group by 206.5% during the third quarter. Citadel Advisors LLC now owns 4,620,114 shares of the company’s stock worth $35,159,000 after purchasing an additional 3,112,708 shares in the last quarter. UBS Group AG grew its stake in shares of Latham Group by 1,709.2% during the fourth quarter. UBS Group AG now owns 955,867 shares of the company’s stock valued at $6,070,000 after purchasing an additional 903,032 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Latham Group by 36.7% during the third 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 during the last quarter. Institutional investors own 83.95% of the company’s stock.

Latham Group Stock Down 2.0%

Shares of NASDAQ:SWIM opened at $6.98 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.16 and a quick ratio of 1.44. The stock has a market cap of $821.20 million, a price-to-earnings ratio of 139.60, a P/E/G ratio of 1.55 and a beta of 1.65. The company has a 50 day moving average of $6.38 and a 200-day moving average of $6.02. Latham Group, Inc. has a one year low of $4.64 and a one year high of $8.97.

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

Analyst Ratings Changes

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

Latham Group Company 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.