Ewing Morris & Co. Investment Partners Ltd. Sells 94,845 Shares of Latham Group, Inc. $SWIM

Key Points

• Ewing Morris & Co. Investment Partners Ltd. reduced its stake in Latham Group, Inc. by 8.2%, now holding approximately 1,065,408 shares valued at $6.85 million.
• Other hedge funds have increased their ownership in Latham Group, with Wells Fargo and Barclays raising their positions by 26.2% and 27.0%, respectively.
• Analysts have rated Latham Group with a Moderate Buy average rating and a price target of $7.95, while Goldman Sachs upgraded its price objective to $4.50 with a sell rating.

Ewing Morris & Co. Investment Partners Ltd. trimmed its holdings in shares of Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 8.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,065,408 shares of the company's stock after selling 94,845 shares during the period. Latham Group accounts for about 2.6% of Ewing Morris & Co. Investment Partners Ltd.'s investment portfolio, making the stock its 12th biggest holding. Ewing Morris & Co. Investment Partners Ltd. owned approximately 0.92% of Latham Group worth $6,851,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SWIM. BNP Paribas Financial Markets acquired a new stake in Latham Group during the 4th quarter worth $42,000. GAMMA Investing LLC grew its holdings in Latham Group by 2,565.5% during 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. ProShare Advisors LLC acquired a new stake in shares of Latham Group during the 4th quarter worth about $79,000. New York State Common Retirement Fund increased its stake in shares of Latham Group by 51.4% during the first quarter. New York State Common Retirement Fund now owns 17,148 shares of the company's stock worth $110,000 after purchasing an additional 5,820 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Latham Group by 15.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,856 shares of the company's stock worth $111,000 after purchasing an additional 2,168 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, 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 research note on Thursday, May 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Latham Group presently has a consensus rating of "Moderate Buy" and an average price target of $7.95.

Latham Group Price Performance

Shares of NASDAQ SWIM remained flat at $7.79 during mid-day trading on Wednesday. 354,407 shares of the stock were exchanged, compared to its average volume of 693,092. Latham Group, Inc. has a 52-week low of $4.56 and a 52-week high of $8.46. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.39 and a quick ratio of 1.51. The business has a fifty day moving average of $7.13 and a 200-day moving average of $6.41.

Insider Transactions at Latham Group

In related news, Director Frank J. Dellaquila purchased 5,000 shares of Latham Group stock in a transaction that occurred on Friday, August 22nd. The stock was bought 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 owned 21,814 shares in the company, valued at $179,747.36. This represents a 29.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.85% of the stock is owned by company insiders.

Latham Group 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.