Advantage Alpha Capital Partners LP Sells 50,669 Shares of Latham Group, Inc. $SWIM

Key Points

• Advantage Alpha Capital Partners LP reduced its stake in Latham Group, Inc. (NASDAQ:SWIM) by 6.4%, holding 735,153 shares worth approximately $4.7 million after selling 50,669 shares.
• The Goldman Sachs Group raised its target price on Latham Group from $4.00 to $4.50 while maintaining a "sell" rating; the stock currently enjoys an average rating of "Moderate Buy" with a target price of $7.95.
• Latham Group's stock opened at $7.68, with a market cap of $895.03 million, and has fluctuated between a 12-month low of $4.56 and a high of $8.41.

Advantage Alpha Capital Partners LP cut its holdings in shares of Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 6.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 735,153 shares of the company's stock after selling 50,669 shares during the period. Advantage Alpha Capital Partners LP owned 0.63% of Latham Group worth $4,727,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc increased its stake in shares of Latham Group by 740.9% during the fourth quarter. Legal & General Group Plc now owns 31,299 shares of the company's stock valued at $218,000 after buying an additional 27,577 shares during the period. Barclays PLC increased its stake in shares of Latham Group by 27.0% during the fourth quarter. Barclays PLC now owns 69,477 shares of the company's stock valued at $484,000 after buying an additional 14,757 shares during the period. Wells Fargo & Company MN grew its stake in Latham Group by 26.2% in the fourth quarter. Wells Fargo & Company MN now owns 23,783 shares of the company's stock worth $166,000 after purchasing an additional 4,931 shares during the period. Bank of America Corp DE grew its stake in Latham Group by 68.8% in the fourth quarter. Bank of America Corp DE now owns 262,547 shares of the company's stock worth $1,827,000 after purchasing an additional 107,012 shares during the period. Finally, GAMMA Investing LLC grew its stake in Latham Group by 2,565.5% in the first quarter. GAMMA Investing LLC now owns 6,957 shares of the company's stock worth $45,000 after purchasing an additional 6,696 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Latham Group Stock Performance

Shares of NASDAQ:SWIM traded up $0.08 during midday trading on Tuesday, reaching $8.25. 651,964 shares of the company's stock traded hands, compared to its average volume of 631,998. The company has a market cap of $961.46 million, a price-to-earnings ratio of -68.74 and a beta of 1.72. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.51 and a current ratio of 2.39. Latham Group, Inc. has a one year low of $4.56 and a one year high of $8.46. The stock has a 50 day moving average of $6.87 and a 200 day moving average of $6.35.

Insiders Place Their Bets

In related news, Director Frank J. Dellaquila purchased 5,000 shares of Latham Group stock in a transaction on Friday, August 22nd. The stock was acquired at an average price of $8.24 per share, for a total transaction of $41,200.00. Following the completion of the transaction, the director directly owned 21,814 shares in the company, valued at $179,747.36. This represents a 29.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.85% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their price target on Latham Group from $4.00 to $4.50 and gave the stock a "sell" rating in a research note on Thursday, May 8th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Latham Group has an average rating of "Moderate Buy" and a consensus price target of $7.95.

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.