Formula Growth Ltd. Invests $8.90 Million in Latham Group, Inc. $SWIM

Formula Growth Ltd. acquired a new stake in shares of Latham Group, Inc. (NASDAQ:SWIM) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,375,082 shares of the company’s stock, valued at approximately $8,897,000. Latham Group accounts for 3.1% of Formula Growth Ltd.’s investment portfolio, making the stock its 2nd largest position. Formula Growth Ltd. owned about 1.17% of Latham Group at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Rhumbline Advisers boosted its stake in Latham Group by 2.7% during the second quarter. Rhumbline Advisers now owns 63,639 shares of the company’s stock worth $406,000 after buying an additional 1,672 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Latham Group by 5.1% in the 4th quarter. Deutsche Bank AG now owns 35,682 shares of the company’s stock valued at $227,000 after buying an additional 1,721 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Latham Group by 5.5% in the 3rd quarter. Squarepoint Ops LLC now owns 35,978 shares of the company’s stock valued at $274,000 after buying an additional 1,873 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Latham Group by 83.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company’s stock worth $27,000 after acquiring an additional 1,921 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Latham Group by 9.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,950 shares of the company’s stock worth $140,000 after acquiring an additional 1,978 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Latham Group Trading Down 2.0%

Shares of SWIM stock opened at $6.98 on Friday. Latham Group, Inc. has a 12-month low of $4.64 and a 12-month high of $8.97. The company has a market capitalization of $821.20 million, a P/E ratio of 139.60, a P/E/G ratio of 1.55 and a beta of 1.65. The firm has a 50-day moving average price of $6.38 and a 200 day moving average price of $6.02. The company has a quick ratio of 1.44, a current ratio of 2.16 and a debt-to-equity ratio of 0.67.

Latham Group (NASDAQ:SWIM) last issued 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). The firm had revenue of $197.47 million for the quarter, compared to the consensus estimate of $188.39 million. Latham Group had a return on equity of 1.31% and a net margin of 0.92%. Research analysts forecast that Latham Group, Inc. will post 0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SWIM has been the topic of a number of analyst reports. The Goldman Sachs Group reissued a “sell” rating on shares of Latham Group in a research note on Wednesday, May 6th. Weiss Ratings raised Latham Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. Zacks Research lowered Latham Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 6th. Finally, Barclays raised their target price on Latham Group from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $7.83.

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.