Nuveen LLC Makes New Investment in Latham Group, Inc. $SWIM

Key Points

• Nuveen LLC has acquired 96,961 shares of Latham Group, Inc. (NASDAQ:SWIM), valued at approximately $623,000, representing about 0.08% ownership of the company as per its latest SEC filing.
• Several institutional investors have increased their stakes in Latham Group, with Dimensional Fund Advisors LP alone raising its position by 28.0%, now owning about 2.1 million shares valued at $14.58 million.
• Latham Group currently has a consensus rating of "Moderate Buy" with an average price target of $7.95, despite a recent downgrade by Goldman Sachs to a "sell" rating with a price target raised to $4.50.

Nuveen LLC bought a new stake in shares of Latham Group, Inc. (NASDAQ:SWIM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 96,961 shares of the company's stock, valued at approximately $623,000. Nuveen LLC owned 0.08% of Latham Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC purchased a new stake in shares of Latham Group during the fourth quarter valued at about $10,221,000. Jacobs Levy Equity Management Inc. purchased a new position in Latham Group in the fourth quarter valued at approximately $5,180,000. Dimensional Fund Advisors LP grew its position in Latham Group by 28.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,094,992 shares of the company's stock valued at $14,580,000 after buying an additional 458,604 shares during the last quarter. Emerald Advisers LLC boosted its position in shares of Latham Group by 718.1% during the 1st quarter. Emerald Advisers LLC now owns 293,755 shares of the company's stock worth $1,889,000 after purchasing an additional 257,846 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in Latham Group by 2,471,716.7% in the 1st quarter. IFP Advisors Inc now owns 148,309 shares of the company's stock valued at $954,000 after buying an additional 148,303 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 acquired at an average price of $8.24 per share, for a total transaction of $41,200.00. Following the completion of the acquisition, the director owned 21,814 shares of the company's stock, valued at $179,747.36. This trade represents a 29.74% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 8.60% of the company's stock.

Latham Group Stock Performance

Shares of SWIM stock traded down $0.12 on Monday, hitting $8.13. 268,035 shares of the stock traded hands, compared to its average volume of 626,098. Latham Group, Inc. has a 1-year low of $4.56 and a 1-year 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 company's fifty day moving average is $7.22 and its 200 day moving average is $6.44. The company has a market capitalization of $946.90 million, a PE ratio of -67.70 and a beta of 1.74.

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.