Victory Capital Management Inc. Sells 335,015 Shares of Latham Group, Inc. (NASDAQ:SWIM)

Victory Capital Management Inc. reduced its position in Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 13.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,135,581 shares of the company's stock after selling 335,015 shares during the period. Victory Capital Management Inc. owned about 1.84% of Latham Group worth $13,732,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Summit Securities Group LLC acquired a new stake in Latham Group during the 4th quarter valued at approximately $33,000. BNP Paribas Financial Markets purchased a new stake in shares of Latham Group in the fourth quarter worth $42,000. GAMMA Investing LLC boosted its stake in shares of Latham Group by 2,565.5% in the 1st quarter. GAMMA Investing LLC now owns 6,957 shares of the company's stock worth $45,000 after buying an additional 6,696 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of Latham Group during the 4th quarter valued at about $79,000. Finally, EntryPoint Capital LLC bought a new stake in Latham Group in the 4th quarter valued at $109,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Buying and Selling at Latham Group

In related news, Director James E. Cline sold 45,583 shares of the company's stock in a transaction dated 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 in the company, valued at $1,152,324.60. This represents a 19.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.60% of the company's stock.

Latham Group Price Performance

Latham Group stock traded down $0.04 during trading hours on Friday, hitting $6.88. 253,444 shares of the company traded hands, compared to its average volume of 611,575. The firm has a market cap of $800.63 million, a P/E ratio of -49.14 and a beta of 1.72. Latham Group, Inc. has a 1-year low of $3.08 and a 1-year high of $8.41. The firm's 50-day simple moving average is $6.24 and its two-hundred day simple moving average is $6.29. The company has a quick ratio of 1.50, a current ratio of 2.55 and a debt-to-equity ratio of 0.80.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group increased their price target on Latham Group from $4.00 to $4.50 and gave the company a "sell" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $7.56.

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.