Latham Group (NASDAQ:SWIM) Director Purchases 5,000 Shares

Key Points

• Frank Dellaquila, a director at Latham Group, purchased 5,000 shares of the company's stock for a total of $41,200, increasing his ownership by 29.74%.
• Latham Group's stock is currently valued at $8.22, with a market capitalization of approximately $958.08 million and a 1-year price range between $4.56 and $8.46.
• Institutional investors have significantly increased their holdings in Latham Group, with 83.95% of the stock now owned by hedge funds and other institutional investors.

Latham Group, Inc. (NASDAQ:SWIM - Get Free Report) Director Frank Dellaquila purchased 5,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were acquired at an average cost of $8.24 per share, for a total transaction of $41,200.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Latham Group Stock Up 0.0%

Latham Group stock traded up $0.0010 during midday trading on Monday, reaching $8.2210. The stock had a trading volume of 431,864 shares, compared to its average volume of 629,391. The stock has a market capitalization of $958.08 million, a P/E ratio of -68.58 and a beta of 1.72. Latham Group, Inc. has a 1-year low of $4.56 and a 1-year high of $8.46. The firm's fifty day simple moving average is $6.83 and its 200-day simple moving average is $6.34. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.51 and a current ratio of 2.39.

Institutional Trading of Latham Group

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its position in shares of Latham Group by 83.9% during the second quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company's stock valued at $27,000 after acquiring an additional 1,921 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Latham Group during the second quarter valued at $29,000. GAMMA Investing LLC raised its position in Latham Group by 2,565.5% during the first quarter. GAMMA Investing LLC now owns 6,957 shares of the company's stock valued at $45,000 after purchasing an additional 6,696 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Latham Group in the second quarter worth about $66,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Latham Group by 501.3% in the second quarter. Tower Research Capital LLC TRC now owns 10,835 shares of the company's stock worth $69,000 after buying an additional 9,033 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group boosted 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. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Latham Group has a consensus rating of "Moderate Buy" and an average price target of $7.95.

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.

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