Hillsdale Investment Management Inc. Reduces Stock Position in Latham Group, Inc. (NASDAQ:SWIM)

Hillsdale Investment Management Inc. cut its holdings in Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 94.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,600 shares of the company's stock after selling 589,963 shares during the period. Hillsdale Investment Management Inc.'s holdings in Latham Group were worth $220,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. grew its holdings in shares of Latham Group by 30.1% in the fourth quarter. American Century Companies Inc. now owns 778,239 shares of the company's stock worth $5,417,000 after purchasing an additional 179,866 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Latham Group by 16.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 108,877 shares of the company's stock valued at $758,000 after buying an additional 15,504 shares during the period. Natixis Advisors LLC lifted its position in shares of Latham Group by 198.4% in the 4th quarter. Natixis Advisors LLC now owns 153,510 shares of the company's stock worth $1,068,000 after purchasing an additional 102,062 shares during the period. Commonwealth Equity Services LLC purchased a new position in shares of Latham Group during the 4th quarter worth approximately $1,431,000. Finally, Swiss National Bank purchased a new position in shares of Latham Group in the 4th quarter valued at approximately $553,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Latham Group

In other news, major shareholder Wc Partners Executive Iv, L.P. sold 105,250 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $6.54, for a total transaction of $688,335.00. Following the transaction, the insider now directly owns 332,818 shares of the company's stock, valued at $2,176,629.72. This represents a 24.03 % 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. 8.60% of the stock is owned by insiders.

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Latham Group Stock Down 8.0 %

Latham Group stock traded down $0.56 during trading hours on Friday, hitting $6.43. The stock had a trading volume of 1,014,710 shares, compared to its average volume of 550,094. The stock's 50-day moving average price is $6.77 and its 200-day moving average price is $6.68. The stock has a market capitalization of $744.45 million, a P/E ratio of 71.45 and a beta of 1.84. Latham Group, Inc. has a 12-month low of $2.38 and a 12-month high of $8.41. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Latham Group from $7.70 to $8.80 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Craig Hallum started coverage on shares of Latham Group in a report on Monday, December 9th. They set a "buy" rating and a $10.00 target price for the company. Finally, Robert W. Baird set a $8.50 price target on Latham Group in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.66.

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.