Latham Group, Inc. (NASDAQ:SWIM) Major Shareholder Sells $688,335.00 in Stock

Latham Group, Inc. (NASDAQ:SWIM) major shareholder Wc Partners Executive Iv, L.P. sold 105,250 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $6.54, for a total value of $688,335.00. Following the sale, the insider now owns 332,818 shares of the company’s stock, valued at approximately $2,176,629.72. This represents a 24.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Latham Group Stock Performance

NASDAQ:SWIM opened at $6.55 on Thursday. The company has a market cap of $758.34 million, a P/E ratio of 72.79 and a beta of 1.84. Latham Group, Inc. has a twelve month low of $2.38 and a twelve month high of $8.41. The company’s 50-day moving average price is $6.76 and its 200-day moving average price is $6.65. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67.

Hedge Funds Weigh In On Latham Group

Institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in shares of Latham Group during the third quarter valued at about $697,000. Empowered Funds LLC increased its holdings in Latham Group by 22.8% in the 3rd quarter. Empowered Funds LLC now owns 358,927 shares of the company’s stock valued at $2,441,000 after purchasing an additional 66,647 shares during the last quarter. Natixis Advisors LLC purchased a new stake in Latham Group in the third quarter valued at approximately $350,000. Thrivent Financial for Lutherans purchased a new stake in Latham Group in the third quarter valued at approximately $635,000. Finally, Intech Investment Management LLC acquired a new position in Latham Group during the third quarter worth $92,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on SWIM. Robert W. Baird set a $8.50 price objective on shares of Latham Group in a research note on Wednesday, March 5th. Stifel Nicolaus lifted their price target on Latham Group from $7.70 to $8.80 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Craig Hallum initiated coverage on Latham Group in a report on Monday, December 9th. They issued a “buy” rating and a $10.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.66.

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.