Cornercap Investment Counsel Inc. Sells 68,897 Shares of Latham Group, Inc. (NASDAQ:SWIM)

Cornercap Investment Counsel Inc. decreased its position in Latham Group, Inc. (NASDAQ:SWIM) by 65.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,802 shares of the company’s stock after selling 68,897 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Latham Group were worth $256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its holdings in Latham Group by 75.9% during the 3rd quarter. FMR LLC now owns 7,239 shares of the company’s stock valued at $49,000 after purchasing an additional 3,123 shares during the period. Quarry LP bought a new stake in shares of Latham Group in the 3rd quarter worth approximately $53,000. Quadrature Capital Ltd purchased a new position in shares of Latham Group during the third quarter valued at approximately $72,000. US Bancorp DE raised its holdings in shares of Latham Group by 29,902.6% during the fourth quarter. US Bancorp DE now owns 11,701 shares of the company’s stock valued at $81,000 after acquiring an additional 11,662 shares in the last quarter. Finally, Arizona State Retirement System purchased a new stake in Latham Group in the fourth quarter worth $82,000. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on SWIM. Craig Hallum assumed coverage on shares of Latham Group in a report on Monday, December 9th. They issued a “buy” rating and a $10.00 price objective for the company. Robert W. Baird set a $8.50 price target on Latham Group in a research note on Wednesday, March 5th. Finally, Stifel Nicolaus lifted their price target on shares of Latham Group from $7.70 to $8.80 and gave the company a “buy” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Latham Group has an average rating of “Hold” and a consensus target price of $7.66.

Latham Group Stock Performance

SWIM stock opened at $6.43 on Friday. The stock has a market capitalization of $744.45 million, a PE ratio of 71.45 and a beta of 1.84. The stock’s 50 day simple moving average is $6.77 and its 200 day simple moving average is $6.69. Latham Group, Inc. has a 12-month low of $2.38 and a 12-month high of $8.41. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67.

Insider Activity at Latham Group

In related news, major shareholder Wc Partners Executive Iv, L.P. sold 105,250 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $6.54, for a total transaction of $688,335.00. Following the transaction, the insider now owns 332,818 shares in the company, valued at $2,176,629.72. This represents a 24.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is currently owned by insiders.

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.