Latham Group, Inc. (NASDAQ:SWIM – Get Free Report) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 1,200,000 shares, a drop of 16.1% from the August 31st total of 1,430,000 shares. Currently, 3.2% of the shares of the company are sold short. Based on an average trading volume of 468,000 shares, the days-to-cover ratio is currently 2.6 days.
Latham Group Price Performance
Latham Group stock opened at $2.80 on Friday. Latham Group has a one year low of $2.12 and a one year high of $4.79. The business has a fifty day moving average price of $3.51 and a 200-day moving average price of $3.30. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.98 and a quick ratio of 1.54. The firm has a market capitalization of $321.55 million, a P/E ratio of -18.67 and a beta of 1.25.
Latham Group (NASDAQ:SWIM – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.07). The business had revenue of $177.10 million for the quarter, compared to the consensus estimate of $170.70 million. Latham Group had a negative net margin of 2.58% and a negative return on equity of 4.10%. Latham Group’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 EPS. As a group, equities research analysts forecast that Latham Group will post 0.18 EPS for the current year.
Insider Activity at Latham Group
In related news, CFO J Mark Borseth sold 39,035 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $3.94, for a total transaction of $153,797.90. Following the completion of the sale, the chief financial officer now directly owns 819,767 shares of the company’s stock, valued at $3,229,881.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Scott Michael Rajeski bought 8,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average cost of $3.96 per share, with a total value of $31,680.00. Following the completion of the transaction, the chief executive officer now directly owns 291,056 shares of the company’s stock, valued at approximately $1,152,581.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO J Mark Borseth sold 39,035 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $3.94, for a total value of $153,797.90. Following the completion of the transaction, the chief financial officer now directly owns 819,767 shares of the company’s stock, valued at $3,229,881.98. The disclosure for this sale can be found here. Over the last three months, insiders acquired 33,000 shares of company stock valued at $132,720 and sold 135,836 shares valued at $547,231. 8.60% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Latham Group
Large investors have recently added to or reduced their stakes in the business. Ewing Morris & Co. Investment Partners Ltd. boosted its stake in Latham Group by 106.3% during the fourth quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,589,367 shares of the company’s stock valued at $5,118,000 after buying an additional 819,000 shares during the period. Voss Capital LLC bought a new stake in Latham Group during the fourth quarter worth about $2,880,000. Hotchkis & Wiley Capital Management LLC lifted its stake in Latham Group by 27.8% during the second quarter. Hotchkis & Wiley Capital Management LLC now owns 2,187,420 shares of the company’s stock worth $8,115,000 after purchasing an additional 475,410 shares during the last quarter. Formula Growth Ltd. lifted its stake in Latham Group by 32.8% during the second quarter. Formula Growth Ltd. now owns 1,015,718 shares of the company’s stock worth $3,768,000 after purchasing an additional 250,718 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Latham Group by 26.9% during the second quarter. Los Angeles Capital Management LLC now owns 99,897 shares of the company’s stock worth $371,000 after purchasing an additional 21,190 shares during the last quarter. Institutional investors own 28.79% 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, and GLI brand names.