ABS Direct Equity Fund LLC Increases Position in Latham Group, Inc. (NASDAQ:SWIM)

ABS Direct Equity Fund LLC lifted its stake in shares of Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 33.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 200,000 shares of the company's stock after acquiring an additional 50,000 shares during the quarter. Latham Group comprises about 1.6% of ABS Direct Equity Fund LLC's investment portfolio, making the stock its 27th biggest holding. ABS Direct Equity Fund LLC owned 0.17% of Latham Group worth $1,392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in shares of Latham Group by 21.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,342,142 shares of the company's stock worth $4,067,000 after buying an additional 234,930 shares during the period. Geode Capital Management LLC lifted its position in Latham Group by 2.1% during the third quarter. Geode Capital Management LLC now owns 971,731 shares of the company's stock worth $6,609,000 after purchasing an additional 20,209 shares during the period. State Street Corp grew its position in Latham Group by 5.4% in the third quarter. State Street Corp now owns 789,974 shares of the company's stock valued at $5,372,000 after acquiring an additional 40,764 shares during the last quarter. Roubaix Capital LLC raised its position in Latham Group by 70.9% in the third quarter. Roubaix Capital LLC now owns 761,541 shares of the company's stock valued at $5,178,000 after purchasing an additional 315,889 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Latham Group by 11.2% during the second quarter. Renaissance Technologies LLC now owns 690,856 shares of the company's stock worth $2,093,000 after acquiring an additional 69,356 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Latham Group

In other news, COO Sanjeev Bahl sold 11,750 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $5.90, for a total transaction of $69,325.00. Following the transaction, the chief operating officer now directly owns 262,811 shares in the company, valued at approximately $1,550,584.90. This represents a 4.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Michael Rajeski sold 22,191 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $8.34, for a total transaction of $185,072.94. Following the transaction, the chief executive officer now owns 480,829 shares in the company, valued at $4,010,113.86. This represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,157 shares of company stock worth $320,189 in the last three months. Insiders own 8.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Latham Group from $3.00 to $5.00 and gave the stock a "sell" rating in a report on Wednesday, November 6th. Craig Hallum assumed coverage on shares of Latham Group in a research note on Monday, December 9th. They issued a "buy" rating and a $10.00 price target for the company. Stifel Nicolaus lifted their target price on Latham Group from $7.70 to $8.80 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Finally, Robert W. Baird raised their price objective on shares of Latham Group from $5.50 to $7.50 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. Two analysts have 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $6.65.

Latham Group Stock Performance

Shares of NASDAQ SWIM traded up $0.04 during mid-day trading on Tuesday, hitting $7.43. The company had a trading volume of 534,508 shares, compared to its average volume of 512,059. Latham Group, Inc. has a 12 month low of $2.31 and a 12 month high of $8.41. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.44 and a quick ratio of 1.60. The business's 50-day simple moving average is $6.85 and its 200-day simple moving average is $6.09. The firm has a market cap of $859.06 million, a P/E ratio of 82.56, a PEG ratio of 387.01 and a beta of 1.80.

Latham Group 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.