Cornercap Investment Counsel Inc. Sells 126,622 Shares of Latham Group, Inc. (NASDAQ:SWIM)

Cornercap Investment Counsel Inc. reduced its holdings in Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 54.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,699 shares of the company's stock after selling 126,622 shares during the quarter. Cornercap Investment Counsel Inc. owned about 0.09% of Latham Group worth $719,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of SWIM. Vanguard Group Inc. lifted its holdings in shares of Latham Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company's stock worth $8,234,000 after acquiring an additional 17,259 shares during the period. Roubaix Capital LLC acquired a new stake in shares of Latham Group in the 1st quarter valued at about $864,000. Lazard Asset Management LLC acquired a new position in shares of Latham Group in the 1st quarter worth approximately $80,000. Public Employees Retirement System of Ohio grew its holdings in shares of Latham Group by 69.2% during the first quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company's stock valued at $43,000 after purchasing an additional 4,484 shares during the last quarter. Finally, Burns Matteson Capital Management LLC acquired a new position in Latham Group during the 2nd quarter valued at about $49,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SWIM has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price 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. Stifel Nicolaus increased their price target on Latham Group from $6.80 to $7.00 and gave the company a "buy" rating in a report on Monday, September 16th. Robert W. Baird increased their price target on shares of Latham Group from $5.50 to $7.50 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Finally, Barclays upped their target price on shares of Latham Group from $3.00 to $6.00 and gave the company an "equal weight" rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $5.62.

Insiders Place Their Bets

In related news, CFO Oliver C. Gloe sold 10,216 shares of the business's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $6.44, for a total value of $65,791.04. Following the sale, the chief financial officer now owns 282,706 shares of the company's stock, valued at $1,820,626.64. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Scott Michael Rajeski sold 25,851 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $6.54, for a total transaction of $169,065.54. Following the transaction, the chief executive officer now owns 490,829 shares of the company's stock, valued at approximately $3,210,021.66. The trade was a 5.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,817 shares of company stock valued at $304,182. 8.60% of the stock is currently owned by corporate insiders.

Latham Group Stock Down 2.3 %

Shares of NASDAQ:SWIM traded down $0.13 during mid-day trading on Friday, reaching $5.72. 708,429 shares of the stock were exchanged, compared to its average volume of 442,003. Latham Group, Inc. has a one year low of $2.11 and a one year high of $7.33. The stock's 50 day simple moving average is $6.46 and its 200-day simple moving average is $4.85. The company has a market cap of $660.80 million, a P/E ratio of 63.50 and a beta of 1.88. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67.

About Latham Group

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.