IFP Advisors Inc Acquires 148,303 Shares of Latham Group, Inc. (NASDAQ:SWIM)

IFP Advisors Inc boosted its position in Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 2,471,716.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,309 shares of the company's stock after purchasing an additional 148,303 shares during the quarter. IFP Advisors Inc owned about 0.13% of Latham Group worth $954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SWIM. Pamplona Capital Management LLC purchased a new stake in Latham Group in the 4th quarter worth approximately $360,846,000. Wasatch Advisors LP purchased a new stake in shares of Latham Group during the 4th quarter valued at $17,408,000. Driehaus Capital Management LLC purchased a new stake in shares of Latham Group during the 4th quarter valued at $10,221,000. Voss Capital LP raised its position in shares of Latham Group by 29.1% during the 4th quarter. Voss Capital LP now owns 5,164,178 shares of the company's stock valued at $35,943,000 after buying an additional 1,163,329 shares in the last quarter. Finally, CenterBook Partners LP raised its position in shares of Latham Group by 240.8% during the 4th quarter. CenterBook Partners LP now owns 1,151,534 shares of the company's stock valued at $8,015,000 after buying an additional 813,620 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Latham Group Trading Down 0.6%

Shares of SWIM stock traded down $0.04 on Friday, hitting $6.88. 253,444 shares of the company's stock traded hands, compared to its average volume of 611,575. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.50 and a current ratio of 2.55. Latham Group, Inc. has a one year low of $3.08 and a one year high of $8.41. The company's fifty day simple moving average is $6.24 and its 200 day simple moving average is $6.29. The stock has a market capitalization of $800.63 million, a price-to-earnings ratio of -49.14 and a beta of 1.72.

Insider Activity at Latham Group

In related news, Director James E. Cline sold 45,583 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $5.95, for a total transaction of $271,218.85. Following the transaction, the director owned 193,668 shares of the company's stock, valued at approximately $1,152,324.60. This trade represents a 19.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.60% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised their price objective on shares of Latham Group from $4.00 to $4.50 and gave the company a "sell" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $7.56.

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.