Latham Group (NASDAQ:SWIM) Releases Earnings Results, Beats Expectations By $0.03 EPS

Latham Group (NASDAQ:SWIM) announced its quarterly earnings results on Tuesday. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03, FiscalAI reports. The company had revenue of $99.95 million for the quarter, compared to analysts’ expectations of $95.86 million. Latham Group had a negative net margin of 2.07% and a negative return on equity of 2.80%.

Latham Group Price Performance

Shares of NASDAQ:SWIM traded down $0.16 during midday trading on Tuesday, hitting $6.44. The company’s stock had a trading volume of 1,290,499 shares, compared to its average volume of 964,911. Latham Group has a 12-month low of $4.56 and a 12-month high of $8.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.72 and a current ratio of 2.43. The company has a market cap of $751.26 million, a P/E ratio of -64.39 and a beta of 1.72. The business’s 50 day simple moving average is $6.54 and its 200 day simple moving average is $7.06.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SWIM. Stifel Nicolaus set a $8.75 price objective on shares of Latham Group in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Latham Group in a report on Monday, December 29th. Finally, Barclays dropped their target price on Latham Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Sell” and an average price target of $7.19.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SWIM. Wellington Management Group LLP lifted 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 buying an additional 4,616,367 shares during the last quarter. Citadel Advisors LLC increased its holdings in shares of Latham Group by 206.5% in the 3rd quarter. Citadel Advisors LLC now owns 4,620,114 shares of the company’s stock valued at $35,159,000 after acquiring an additional 3,112,708 shares during the period. Vanguard Group Inc. boosted its stake in Latham Group by 36.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,257,228 shares of the company’s stock worth $24,788,000 after purchasing an additional 873,903 shares during the period. Wasatch Advisors LP grew its position in Latham Group by 29.5% during the 2nd quarter. Wasatch Advisors LP now owns 3,116,247 shares of the company’s stock worth $19,882,000 after purchasing an additional 709,368 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Latham Group by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,900,023 shares of the company’s stock worth $18,414,000 after purchasing an additional 158,304 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

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.