ABS Direct Equity Fund LLC Boosts Stake in Latham Group, Inc. (NASDAQ:SWIM)

ABS Direct Equity Fund LLC increased its stake in Latham Group, Inc. (NASDAQ:SWIM) by 33.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 200,000 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. Latham Group makes up about 1.6% of ABS Direct Equity Fund LLC’s portfolio, making the stock its 27th biggest holding. ABS Direct Equity Fund LLC’s holdings in Latham Group were worth $1,392,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. acquired a new stake in shares of Latham Group in the 3rd quarter worth $697,000. Barclays PLC increased its stake in Latham Group by 294.8% during the third quarter. Barclays PLC now owns 54,720 shares of the company’s stock worth $372,000 after purchasing an additional 40,860 shares during the period. Thrivent Financial for Lutherans purchased a new position in Latham Group in the 3rd quarter valued at approximately $635,000. Geode Capital Management LLC grew its stake in Latham Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 971,731 shares of the company’s stock worth $6,609,000 after purchasing an additional 20,209 shares in the last quarter. Finally, Roubaix Capital LLC raised its holdings in Latham Group by 70.9% in the third quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock valued at $5,178,000 after acquiring an additional 315,889 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Latham Group

In other news, CFO Oliver C. Gloe sold 10,216 shares of Latham Group stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $6.44, for a total transaction of $65,791.04. Following the completion of the sale, the chief financial officer now directly owns 282,706 shares in the company, valued at $1,820,626.64. The trade was a 3.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Sanjeev Bahl sold 11,750 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $5.90, for a total value of $69,325.00. Following the completion of the transaction, the chief operating officer now owns 262,811 shares in the company, valued at $1,550,584.90. This represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,157 shares of company stock valued at $320,189 in the last three months. 8.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SWIM. Robert W. Baird upped their price target on Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Craig Hallum initiated coverage on Latham Group in a research note on Monday, December 9th. They set a “buy” rating and a $10.00 price objective for the company. Stifel Nicolaus raised their target price on shares of Latham Group from $7.70 to $8.80 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group lifted their price target on Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.65.

Latham Group Price Performance

Shares of NASDAQ SWIM opened at $7.39 on Tuesday. The firm’s 50-day simple moving average is $6.85 and its 200 day simple moving average is $6.09. The stock has a market cap of $854.43 million, a P/E ratio of 82.12, a P/E/G ratio of 387.01 and a beta of 1.80. Latham Group, Inc. has a fifty-two week low of $2.31 and a fifty-two week high of $8.41. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67.

Latham Group Company 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.