Driehaus Capital Management LLC Acquires New Shares in Latham Group, Inc. (NASDAQ:SWIM)

Driehaus Capital Management LLC acquired a new position in shares of Latham Group, Inc. (NASDAQ:SWIM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,468,527 shares of the company's stock, valued at approximately $10,221,000. Driehaus Capital Management LLC owned about 1.27% of Latham Group at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SWIM. Barclays PLC raised its position in shares of Latham Group by 294.8% during the third quarter. Barclays PLC now owns 54,720 shares of the company's stock worth $372,000 after acquiring an additional 40,860 shares during the last quarter. SG Americas Securities LLC grew its stake in Latham Group by 20.3% during the fourth quarter. SG Americas Securities LLC now owns 18,573 shares of the company's stock worth $129,000 after purchasing an additional 3,133 shares during the period. ABS Direct Equity Fund LLC grew its stake in Latham Group by 33.3% during the fourth quarter. ABS Direct Equity Fund LLC now owns 200,000 shares of the company's stock worth $1,392,000 after purchasing an additional 50,000 shares during the period. Calamos Advisors LLC acquired a new stake in Latham Group during the fourth quarter worth approximately $421,000. Finally, Empowered Funds LLC grew its stake in Latham Group by 5.1% during the fourth quarter. Empowered Funds LLC now owns 377,291 shares of the company's stock worth $2,626,000 after purchasing an additional 18,364 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on SWIM. The Goldman Sachs Group raised their target price on Latham Group from $4.00 to $4.50 and gave the stock a "sell" rating in a research note on Thursday, May 8th. Robert W. Baird set a $8.50 target price on Latham Group in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $7.56.

Latham Group Stock Down 11.4%

Shares of NASDAQ:SWIM traded down $0.77 during mid-day trading on Wednesday, hitting $5.99. 955,427 shares of the company traded hands, compared to its average volume of 610,278. The stock has a market cap of $697.04 million, a P/E ratio of 66.56 and a beta of 1.72. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67. Latham Group, Inc. has a 12-month low of $2.54 and a 12-month high of $8.41. The stock has a 50-day moving average price of $5.99 and a two-hundred day moving average price of $6.44.

Insider Buying and Selling

In other Latham Group news, major shareholder Wc Partners Executive Iv, L.P. sold 105,250 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $6.54, for a total value of $688,335.00. Following the sale, the insider now directly owns 332,818 shares in the company, valued at $2,176,629.72. The trade was a 24.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James E. Cline sold 45,583 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $5.95, for a total value of $271,218.85. Following the completion of the sale, the director now owns 193,668 shares in the company, valued at approximately $1,152,324.60. The trade was a 19.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,250 shares of company stock worth $988,044. 8.60% of the stock is owned by company insiders.

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.