Latham Group, Inc. (NASDAQ:SWIM) Shares Sold by Wynnchurch Capital Partners IV L.P.

Key Points

• Wynnchurch Capital Partners IV L.P. reduced its stake in Latham Group, selling 3,600,000 shares and lowering its ownership to approximately 9.83% of the company, making it its largest holding.
• The stock is currently rated as a "Hold" by analysts, with a consensus target price of $7.56 and a recent upgrade from Goldman Sachs to $4.50, though it still holds a sell rating.
• Institutional investors own about 83.95% of Latham Group, reflecting significant interest, while recent insider activity included a 19.05% ownership reduction by Director James E. Cline.

Wynnchurch Capital Partners IV L.P. lessened its stake in shares of Latham Group, Inc. (NASDAQ:SWIM - Free Report) by 24.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,383,771 shares of the company's stock after selling 3,600,000 shares during the quarter. Latham Group makes up approximately 100.0% of Wynnchurch Capital Partners IV L.P.'s holdings, making the stock its largest holding. Wynnchurch Capital Partners IV L.P. owned 9.83% of Latham Group worth $73,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in shares of Latham Group by 12.0% during the 4th quarter. LPL Financial LLC now owns 15,954 shares of the company's stock worth $111,000 after purchasing an additional 1,713 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Latham Group by 15.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,856 shares of the company's stock worth $111,000 after purchasing an additional 2,168 shares during the period. EP Wealth Advisors LLC grew its holdings in shares of Latham Group by 9.8% during the 4th quarter. EP Wealth Advisors LLC now owns 43,575 shares of the company's stock worth $303,000 after purchasing an additional 3,883 shares during the period. Summit Securities Group LLC acquired a new position in Latham Group during the 4th quarter worth approximately $33,000. Finally, Wells Fargo & Company MN raised its position in shares of Latham Group by 26.2% in the 4th quarter. Wells Fargo & Company MN now owns 23,783 shares of the company's stock valued at $166,000 after purchasing an additional 4,931 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Buying and Selling

In related news, Director James E. Cline sold 45,583 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $5.95, for a total transaction of $271,218.85. Following the completion of the transaction, the director directly 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 through this hyperlink. 8.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upped their price target on 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 issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $7.56.

Latham Group Stock Performance

SWIM traded up $0.09 during trading on Thursday, reaching $6.88. 823,277 shares of the company were exchanged, compared to its average volume of 616,749. The stock has a market cap of $800.63 million, a P/E ratio of -49.14 and a beta of 1.72. The firm has a 50 day moving average of $6.29 and a 200 day moving average of $6.30. The company has a current ratio of 2.55, a quick ratio of 1.50 and a debt-to-equity ratio of 0.80. Latham Group, Inc. has a 52 week low of $3.08 and a 52 week high of $8.41.

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.