Latham Group, Inc. $SWIM Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Latham Group by 20.9%, selling 136,888 shares, and now owns 0.45% of the company valued at approximately $3.34 million.
• Goldman Sachs has increased Latham Group's target price from $4.00 to $4.50 while maintaining a "sell" rating, as the stock currently has a consensus price target of $7.95.
• Director Frank J. Dellaquila purchased 5,000 shares of Latham Group at an average cost of $8.24 per share, increasing his shares owned by 29.74%.

Invesco Ltd. lessened its stake in Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 20.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 519,056 shares of the company's stock after selling 136,888 shares during the period. Invesco Ltd. owned 0.45% of Latham Group worth $3,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC boosted its position in shares of Latham Group by 27.0% in the 4th quarter. Barclays PLC now owns 69,477 shares of the company's stock valued at $484,000 after purchasing an additional 14,757 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Latham Group by 26.2% in the fourth quarter. Wells Fargo & Company MN now owns 23,783 shares of the company's stock valued at $166,000 after acquiring an additional 4,931 shares during the period. Bank of America Corp DE boosted its holdings in shares of Latham Group by 68.8% in the fourth quarter. Bank of America Corp DE now owns 262,547 shares of the company's stock valued at $1,827,000 after acquiring an additional 107,012 shares during the period. GAMMA Investing LLC grew its position in shares of 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 acquiring an additional 6,696 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Latham Group by 51.4% in the 1st quarter. New York State Common Retirement Fund now owns 17,148 shares of the company's stock valued at $110,000 after acquiring an additional 5,820 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Activity at Latham Group

In other news, Director Frank J. Dellaquila acquired 5,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $8.24 per share, with a total value of $41,200.00. Following the purchase, the director directly owned 21,814 shares of the company's stock, valued at approximately $179,747.36. This trade represents a 29.74% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 6.85% of the stock is owned by company insiders.

Latham Group Price Performance

Latham Group stock traded down $0.01 during midday trading on Wednesday, reaching $7.78. The company's stock had a trading volume of 101,089 shares, compared to its average volume of 628,872. The firm has a market capitalization of $906.68 million, a PE ratio of -64.70 and a beta of 1.74. Latham Group, Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $8.46. The stock's 50 day simple moving average is $7.13 and its 200 day simple moving average is $6.41. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.51 and a current ratio of 2.39.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lifted their price objective on shares of Latham Group from $4.00 to $4.50 and gave the company a "sell" rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.