395,558 Latham Group, Inc. $SWIM Shares Sold by CenterBook Partners LP

Key Points

• CenterBook Partners cut its Latham Group stake by 45%, selling 395,558 shares in the third quarter; it retained 483,092 shares, worth about $3.01 million. Institutional investors collectively own 83.95% of the company.
• Institutional activity was mixed: Wellington Management increased its position by 24% and Squarepoint Ops by 68.7%, while other funds also reported new or expanded holdings.
• Analyst sentiment is cautious, with a consensus rating of “Reduce” and an average price target of $7.83. Shares opened at $7.85, within a 52-week range of $4.64 to $8.97.

CenterBook Partners LP lessened its stake in Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 45.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 483,092 shares of the company's stock after selling 395,558 shares during the quarter. CenterBook Partners LP owned approximately 0.41% of Latham Group worth $3,010,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SWIM. Inspire Investing LLC acquired a new position in Latham Group during the third quarter worth $638,000. WINTON GROUP Ltd bought a new position in shares of Latham Group in the 2nd quarter valued at about $72,000. Squarepoint Ops LLC grew its position in shares of Latham Group by 68.7% in the 2nd quarter. Squarepoint Ops LLC now owns 574,790 shares of the company's stock valued at $3,719,000 after acquiring an additional 234,130 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Latham Group by 52.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,167 shares of the company's stock valued at $292,000 after acquiring an additional 15,529 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Latham Group by 24.0% during the 2nd quarter. Wellington Management Group LLP now owns 11,364,049 shares of the company's stock worth $73,525,000 after purchasing an additional 2,201,843 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. William Blair cut shares of Latham Group from an "outperform" rating to a "market perform" rating in a report on Thursday, October 8th. Barclays boosted their price target on Latham Group from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th. Zacks Research lowered Latham Group from a "hold" rating to a "strong sell" rating in a research note on Friday, October 9th. Weiss Ratings raised Latham Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 18th. Finally, The Goldman Sachs Group reiterated a "sell" rating on shares of Latham Group in a research note on Monday, October 12th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $7.83.

Latham Group Stock Performance

Shares of SWIM stock opened at $7.85 on Friday. The company has a market capitalization of $924.34 million, a price-to-earnings ratio of 98.12, a PEG ratio of 1.24 and a beta of 1.71. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 2.16. The company has a 50-day simple moving average of $6.60 and a 200 day simple moving average of $6.20. Latham Group, Inc. has a 52 week low of $4.64 and a 52 week high of $8.97.

About Latham Group

Latham Group, Inc designs, manufactures and markets residential swimming pool products. The company is best known for its in-ground fiberglass pools, which are manufactured as pre-formed shells and installed at residential properties. Its product portfolio also includes vinyl pool liners, automatic and safety pool covers, pool walls, steps, stairs and related components.

Latham serves the residential swimming pool construction and renovation markets through a network of dealers, builders and distributors.

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