Roubaix Capital LLC Sells 413,182 Shares of Latham Group, Inc. $SWIM

Key Points

• Roubaix Capital LLC reduced its holdings in Latham Group, Inc. by 55.7% during the first quarter, selling 413,182 shares and ending up with approximately 0.28% ownership valued at $2.11 million.
• During the fourth quarter, several institutional investors, including LPL Financial LLC and Russell Investments Group Ltd., significantly increased their stakes in Latham Group, which now has 83.95% of its stock owned by institutional investors.
• The Goldman Sachs Group raised its price target on Latham Group from $4.00 to $4.50 while maintaining a "sell" rating, indicating a cautious outlook on the stock's performance.

Roubaix Capital LLC cut its stake in Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 55.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 328,455 shares of the company's stock after selling 413,182 shares during the quarter. Roubaix Capital LLC owned about 0.28% of Latham Group worth $2,112,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its holdings in Latham Group by 77.7% in the 1st quarter. Russell Investments Group Ltd. now owns 199,323 shares of the company's stock worth $1,282,000 after purchasing an additional 87,167 shares in the last quarter. Nuveen LLC bought a new position in Latham Group in the 1st quarter worth $623,000. CenterBook Partners LP raised its holdings in Latham Group by 9.9% in the 1st quarter. CenterBook Partners LP now owns 1,265,210 shares of the company's stock worth $8,135,000 after purchasing an additional 113,676 shares in the last quarter. Deutsche Bank AG raised its holdings in Latham Group by 13.7% in the 1st quarter. Deutsche Bank AG now owns 24,220 shares of the company's stock worth $156,000 after purchasing an additional 2,914 shares in the last quarter. Finally, BloombergSen Inc. increased its stake in shares of Latham Group by 10.2% in the 1st quarter. BloombergSen Inc. now owns 131,716 shares of the company's stock worth $847,000 after acquiring an additional 12,193 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group increased their price target on shares of Latham Group from $4.00 to $4.50 and gave the stock a "sell" rating in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.95.

Latham Group Stock Up 8.3%

NASDAQ:SWIM traded up $0.64 on Friday, reaching $8.32. 265,774 shares of the stock traded hands, compared to its average volume of 626,693. The company has a market capitalization of $969.61 million, a price-to-earnings ratio of -69.33 and a beta of 1.72. The company has a current ratio of 2.39, a quick ratio of 1.51 and a debt-to-equity ratio of 0.70. Latham Group, Inc. has a 12 month low of $4.56 and a 12 month high of $8.41. The company's fifty day simple moving average is $6.77 and its 200 day simple moving average is $6.34.

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.