ABS Direct Equity Fund LLC Acquires Shares of 69,352 Latham Group, Inc. (NASDAQ:SWIM)

ABS Direct Equity Fund LLC bought a new position in shares of Latham Group, Inc. (NASDAQ:SWIM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 69,352 shares of the company’s stock, valued at approximately $182,000. ABS Direct Equity Fund LLC owned approximately 0.06% of Latham Group as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in Latham Group by 23.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,462,645 shares of the company’s stock worth $6,477,000 after buying an additional 465,530 shares in the last quarter. Voss Capital LLC lifted its holdings in shares of Latham Group by 52.1% during the 4th quarter. Voss Capital LLC now owns 1,922,639 shares of the company’s stock worth $5,057,000 after acquiring an additional 658,280 shares during the period. Natixis Advisors L.P. boosted its position in shares of Latham Group by 50.1% during the 4th quarter. Natixis Advisors L.P. now owns 877,079 shares of the company’s stock worth $2,306,000 after acquiring an additional 292,885 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Latham Group by 60.3% in the third quarter. Panagora Asset Management Inc. now owns 194,680 shares of the company’s stock valued at $545,000 after acquiring an additional 73,248 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in Latham Group by 19.3% during the third 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. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other Latham Group news, General Counsel Patrick M. Sheller sold 10,431 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $3.05, for a total value of $31,814.55. Following the completion of the transaction, the general counsel now directly owns 139,164 shares in the company, valued at approximately $424,450.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Oliver C. Gloe bought 27,500 shares of Latham Group stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average cost of $2.92 per share, for a total transaction of $80,300.00. Following the completion of the acquisition, the chief financial officer now directly owns 292,922 shares of the company’s stock, valued at approximately $855,332.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Patrick M. Sheller sold 10,431 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $3.05, for a total transaction of $31,814.55. Following the transaction, the general counsel now owns 139,164 shares of the company’s stock, valued at approximately $424,450.20. The disclosure for this sale can be found here. Insiders sold 54,383 shares of company stock valued at $165,868 over the last quarter. 8.60% of the stock is owned by company insiders.

Latham Group Trading Up 8.1 %

Latham Group stock traded up $0.21 during mid-day trading on Friday, reaching $2.81. The company had a trading volume of 191,911 shares, compared to its average volume of 239,409. The business has a fifty day simple moving average of $3.28 and a 200 day simple moving average of $2.78. Latham Group, Inc. has a fifty-two week low of $2.04 and a fifty-two week high of $4.77. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 2.77.

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

Wall Street Analyst Weigh In

SWIM has been the topic of several recent analyst reports. Bank of America lowered Latham Group from a “buy” rating to an “underperform” rating and decreased their price target for the company from $4.50 to $2.60 in a research note on Wednesday, March 13th. Stifel Nicolaus upgraded Latham Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $3.00 to $4.00 in a research report on Monday, March 18th.

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.