Bank of America Corp DE Acquires 107,012 Shares of Latham Group, Inc. (NASDAQ:SWIM)

Bank of America Corp DE raised its holdings in shares of Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 68.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 262,547 shares of the company's stock after acquiring an additional 107,012 shares during the quarter. Bank of America Corp DE owned approximately 0.23% of Latham Group worth $1,827,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. LPL Financial LLC grew its stake in shares of Latham Group by 12.0% during the 4th quarter. LPL Financial LLC now owns 15,954 shares of the company's stock worth $111,000 after acquiring an additional 1,713 shares in the last quarter. Olympiad Research LP raised its holdings in Latham Group by 8.0% during the fourth quarter. Olympiad Research LP now owns 25,418 shares of the company's stock worth $177,000 after acquiring an additional 1,889 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Latham Group by 15.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,856 shares of the company's stock worth $111,000 after acquiring an additional 2,168 shares in the last quarter. Rhumbline Advisers raised its holdings in Latham Group by 4.8% during the fourth quarter. Rhumbline Advisers now owns 64,502 shares of the company's stock worth $449,000 after acquiring an additional 2,942 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings 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 acquiring an additional 3,133 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SWIM has been the topic of several analyst reports. The Goldman Sachs Group upped their target price on Latham Group from $4.00 to $4.50 and gave the stock a "sell" rating in a report on Thursday, May 8th. Robert W. Baird set a $8.50 target price on shares of Latham Group in a research note on Wednesday, March 5th. One investment 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, the stock currently has a consensus rating of "Hold" and an average price target of $7.56.

Insiders Place Their Bets

In other Latham Group news, major shareholder Wc Partners Executive Iv, L.P. sold 105,250 shares of Latham Group stock in a transaction on Friday, March 14th. The shares were sold at an average price of $6.54, for a total transaction of $688,335.00. Following the completion of the transaction, the insider now directly owns 332,818 shares of the company's stock, valued at $2,176,629.72. The trade was a 24.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James E. Cline sold 4,417 shares of Latham Group stock in a transaction on Monday, May 12th. The stock was sold at an average price of $6.45, for a total transaction of $28,489.65. Following the transaction, the director now directly owns 189,251 shares of the company's stock, valued at approximately $1,220,668.95. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 155,250 shares of company stock valued at $988,044 over the last ninety days. 8.60% of the stock is currently owned by company insiders.

Latham Group Stock Up 1.4%

Shares of NASDAQ:SWIM traded up $0.08 during midday trading on Friday, hitting $5.87. The stock had a trading volume of 257,570 shares, compared to its average volume of 629,754. Latham Group, Inc. has a 12 month low of $2.54 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. The business's 50-day simple moving average is $5.68 and its 200-day simple moving average is $6.42. The company has a market cap of $683.08 million, a P/E ratio of 65.23 and a beta of 1.69.

About Latham Group

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.