Congruence Capital LLC Invests $1.28 Million in Latham Group, Inc. $SWIM

by · The Cerbat Gem

Congruence Capital LLC purchased a new position in shares of Latham Group, Inc. (NASDAQ:SWIM – Free Report) during the fourth quarter, Holdings Channel reports. The firm purchased 201,243 shares of the company’s stock, valued at approximately $1,278,000. Latham Group makes up about 0.5% of Congruence Capital LLC’s holdings, making the stock its 28th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. CAS Investment Partners LLC purchased a new position in Latham Group during the 3rd quarter worth approximately $7,610,000. CenterBook Partners LP grew its stake in Latham Group by 21.0% during the 4th quarter. CenterBook Partners LP now owns 1,245,337 shares of the company’s stock worth $7,908,000 after buying an additional 215,774 shares during the last quarter. UBS Group AG grew its stake in Latham Group by 1,709.2% during the 4th quarter. UBS Group AG now owns 955,867 shares of the company’s stock worth $6,070,000 after buying an additional 903,032 shares during the last quarter. AdviceOne Advisory Services LLC purchased a new position in Latham Group during the 3rd quarter worth approximately $991,000. Finally, IFP Advisors Inc grew its stake in Latham Group by 100.2% during the 3rd quarter. IFP Advisors Inc now owns 296,376 shares of the company’s stock worth $2,259,000 after buying an additional 148,365 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Latham Group Trading Down 1.6%

Shares of SWIM stock opened at $5.60 on Friday. The business’s 50 day moving average is $5.52 and its two-hundred day moving average is $6.14. Latham Group, Inc. has a twelve month low of $4.64 and a twelve month high of $8.97. The company has a market capitalization of $657.50 million, a P/E ratio of 80.00, a price-to-earnings-growth ratio of 0.96 and a beta of 1.67. The company has a current ratio of 1.88, a quick ratio of 1.16 and a debt-to-equity ratio of 0.70.

Latham Group (NASDAQ:SWIM – Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The company had revenue of $117.32 million during the quarter, compared to analysts’ expectations of $118.39 million. Latham Group had a net margin of 1.55% and a return on equity of 2.13%. Equities analysts forecast that Latham Group, Inc. will post 0.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SWIM. Bank of America lowered their target price on Latham Group from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Monday, April 20th. Zacks Research downgraded Latham Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Stifel Nicolaus lifted their target price on Latham Group from $8.75 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, March 4th. William Blair reiterated an “outperform” rating on shares of Latham Group in a research note on Wednesday, March 4th. Finally, Wall Street Zen downgraded Latham Group from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.50.

Get Our Latest Research Report on SWIM

Insider Activity at Latham Group

In other Latham Group news, CFO Oliver C. Gloe purchased 15,050 shares of Latham Group stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $4.90 per share, with a total value of $73,745.00. Following the acquisition, the chief financial officer directly owned 540,758 shares of the company’s stock, valued at $2,649,714.20. This represents a 2.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Cline purchased 50,000 shares of Latham Group stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of $4.84 per share, with a total value of $242,000.00. Following the completion of the acquisition, the director directly owned 100,000 shares in the company, valued at approximately $484,000. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.32% of the stock is owned by company insiders.

Latham Group Company Profile

(Free Report)

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.

See Also

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