Latham Group, Inc. (NASDAQ:SWIM) Shares Bought by Gitterman Wealth Management LLC

Gitterman Wealth Management LLC grew its stake in Latham Group, Inc. (NASDAQ:SWIM) by 82.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,099 shares of the company’s stock after buying an additional 10,875 shares during the quarter. Gitterman Wealth Management LLC’s holdings in Latham Group were worth $63,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Latham Group during the third quarter worth $46,000. Panagora Asset Management Inc. boosted its stake in shares of Latham Group by 60.3% during the 3rd quarter. Panagora Asset Management Inc. now owns 194,680 shares of the company’s stock worth $545,000 after acquiring an additional 73,248 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Latham Group by 66.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,997,115 shares of the company’s stock valued at $5,592,000 after acquiring an additional 797,733 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Latham Group by 19.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 119,137 shares of the company’s stock valued at $334,000 after purchasing an additional 19,240 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Latham Group in the 3rd quarter worth about $104,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Latham Group Price Performance

Shares of NASDAQ SWIM traded up $0.01 during midday trading on Friday, hitting $3.05. The stock had a trading volume of 165,599 shares, compared to its average volume of 156,188. The company has a quick ratio of 1.64, a current ratio of 2.77 and a debt-to-equity ratio of 0.70. The stock has a 50 day simple moving average of $3.28 and a 200-day simple moving average of $2.77. The company has a market capitalization of $351.94 million, a PE ratio of -101.67 and a beta of 1.57. Latham Group, Inc. has a 1 year low of $2.04 and a 1 year high of $4.77.

Latham Group (NASDAQ:SWIM) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The company had revenue of $90.90 million for the quarter, compared to analyst estimates of $86.95 million. Latham Group had a negative return on equity of 0.62% and a negative net margin of 0.42%. The firm’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) EPS. On average, sell-side analysts expect that Latham Group, Inc. will post -0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on SWIM shares. Bank of America cut Latham Group from a “buy” rating to an “underperform” rating and cut their price objective for the company from $4.50 to $2.60 in a research report on Wednesday, March 13th. Stifel Nicolaus upgraded shares of Latham Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $3.00 to $4.00 in a research report on Monday, March 18th.

Insider Activity at Latham Group

In related news, COO Sanjeev Bahl sold 10,342 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $3.05, for a total value of $31,543.10. Following the completion of the sale, the chief operating officer now owns 126,713 shares of the company’s stock, valued at $386,474.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Sanjeev Bahl sold 10,342 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $3.05, for a total transaction of $31,543.10. Following the transaction, the chief operating officer now owns 126,713 shares of the company’s stock, valued at approximately $386,474.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Patrick M. Sheller sold 10,431 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $3.05, for a total transaction of $31,814.55. Following the sale, the general counsel now owns 139,164 shares of the company’s stock, valued at $424,450.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,383 shares of company stock valued at $165,868. Corporate insiders own 8.60% of the company’s stock.

Latham Group Company Profile

Latham Group, Inc designs, manufactures, and markets in-ground residential swimming pools in North America, Australia, and New Zealand. It offers a portfolio of pools and related products, including in-ground swimming pools that include fiber glass and packaged pools; and pool covers and liners under the Latham, Narellan, CoverStar, Radiant, and GLI brand names.