Alpha Paradigm Partners LLC Cuts Holdings in Latham Group, Inc. (NASDAQ:SWIM)

Alpha Paradigm Partners LLC trimmed its holdings in shares of Latham Group, Inc. (NASDAQ:SWIM – Get Rating) by 30.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,685 shares of the company’s stock after selling 48,713 shares during the period. Alpha Paradigm Partners LLC owned about 0.09% of Latham Group worth $397,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SWIM. Bank of New York Mellon Corp raised its stake in shares of Latham Group by 33.8% during the 1st quarter. Bank of New York Mellon Corp now owns 132,582 shares of the company’s stock worth $1,755,000 after buying an additional 33,518 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Latham Group during the 1st quarter worth approximately $373,000. PNC Financial Services Group Inc. purchased a new position in shares of Latham Group during the 1st quarter worth approximately $178,000. MetLife Investment Management LLC increased its stake in Latham Group by 104.8% in the 1st quarter. MetLife Investment Management LLC now owns 25,195 shares of the company’s stock valued at $334,000 after purchasing an additional 12,891 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Latham Group by 35.9% in the 1st quarter. Rhumbline Advisers now owns 37,768 shares of the company’s stock valued at $500,000 after purchasing an additional 9,987 shares in the last quarter. 31.00% of the stock is owned by hedge funds and other institutional investors.

Latham Group Stock Performance

Shares of Latham Group stock opened at $3.26 on Wednesday. Latham Group, Inc. has a twelve month low of $2.75 and a twelve month high of $16.25. The company has a current ratio of 2.94, a quick ratio of 1.03 and a debt-to-equity ratio of 0.81. The business’s fifty day moving average price is $3.69 and its 200 day moving average price is $3.87.

Latham Group (NASDAQ:SWIM – Get Rating) last issued its earnings results on Tuesday, March 7th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). Latham Group had a negative net margin of 0.82% and a negative return on equity of 0.77%. The firm had revenue of $107.90 million during the quarter, compared to analyst estimates of $101.23 million. During the same quarter in the previous year, the business posted ($0.05) EPS. Latham Group’s revenue was down 22.3% compared to the same quarter last year. As a group, equities analysts expect that Latham Group, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SWIM. Stifel Nicolaus began coverage on Latham Group in a report on Monday, December 12th. They set a “hold” rating and a $3.00 target price on the stock. Morgan Stanley decreased their price objective on Latham Group from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Friday, January 6th. Finally, Barclays cut Latham Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $7.00 to $5.00 in a report on Wednesday, December 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.56.

About Latham Group

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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, pool covers, and pool liners. The company was formerly known as Latham Topco, Inc and changed its name to Latham Group, Inc in March 2021.