Principal Financial Group Inc. Acquires Shares of 102,446 Latham Group, Inc. (NASDAQ:SWIM)

Principal Financial Group Inc. bought a new stake in shares of Latham Group, Inc. (NASDAQ:SWIM - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 102,446 shares of the company's stock, valued at approximately $697,000. Principal Financial Group Inc. owned 0.09% of Latham Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Diversified Trust Co bought a new stake in shares of Latham Group during the second quarter valued at approximately $34,000. Public Employees Retirement System of Ohio boosted its position 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 buying an additional 4,484 shares during the last quarter. Burns Matteson Capital Management LLC bought a new stake in Latham Group in the 2nd quarter worth about $49,000. Ritholtz Wealth Management bought a new stake in Latham Group in the 2nd quarter worth about $55,000. Finally, Lazard Asset Management LLC purchased a new position in Latham Group in the 1st quarter worth about $80,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Latham Group Price Performance

Shares of SWIM traded up $0.57 during mid-day trading on Friday, reaching $6.89. The stock had a trading volume of 780,732 shares, compared to its average volume of 685,394. The business has a fifty day moving average of $6.47 and a 200 day moving average of $4.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.60 and a current ratio of 2.44. The firm has a market cap of $796.66 million, a price-to-earnings ratio of 76.56 and a beta of 1.88. Latham Group, Inc. has a 12 month low of $2.11 and a 12 month high of $7.33.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SWIM. Stifel Nicolaus raised their price target on shares of Latham Group from $6.80 to $7.00 and gave the company a "buy" rating in a report on Monday, September 16th. The Goldman Sachs Group lifted their target price on shares of Latham Group from $3.00 to $5.00 and gave the stock a "sell" rating in a research report on Wednesday, November 6th. Robert W. Baird increased their price target on Latham Group from $5.50 to $7.50 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Finally, Barclays raised their price objective on shares of Latham Group from $3.00 to $6.00 and gave the stock an "equal weight" rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Latham Group has a consensus rating of "Hold" and an average price target of $5.62.

Insider Buying and Selling

In other Latham Group news, CEO Scott Michael Rajeski sold 25,851 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $6.54, for a total transaction of $169,065.54. Following the completion of the transaction, the chief executive officer now owns 490,829 shares of the company's stock, valued at $3,210,021.66. This represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Sanjeev Bahl sold 11,750 shares of Latham Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $5.90, for a total value of $69,325.00. Following the completion of the sale, the chief operating officer now directly owns 262,811 shares in the company, valued at $1,550,584.90. This trade represents a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,817 shares of company stock valued at $304,182. Company insiders own 8.60% of the company's stock.

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.