Wynnchurch Capital Partners IV L.P. Sells 3,600,000 Shares of Latham Group, Inc. (NASDAQ:SWIM)

Wynnchurch Capital Partners IV L.P. cut its holdings in Latham Group, Inc. (NASDAQ:SWIM) by 24.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 portfolio, making the stock its largest holding. Wynnchurch Capital Partners IV L.P. owned 9.83% of Latham Group worth $73,198,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SWIM. Summit Securities Group LLC purchased a new position in shares of Latham Group during the fourth quarter valued at approximately $33,000. BNP Paribas Financial Markets purchased a new position in shares of Latham Group during the fourth quarter valued at approximately $42,000. GAMMA Investing LLC lifted its stake in shares of 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 buying an additional 6,696 shares during the period. ProShare Advisors LLC purchased a new position in shares of Latham Group during the fourth quarter valued at approximately $79,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Latham Group during the fourth quarter valued at approximately $109,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Latham Group Stock Performance

NASDAQ:SWIM opened at $6.88 on Monday. The company has a quick ratio of 1.50, a current ratio of 2.55 and a debt-to-equity ratio of 0.80. The company 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 fifty-two week low of $3.08 and a fifty-two week high of $8.41. The firm’s 50 day moving average is $6.25 and its two-hundred day moving average is $6.29.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upped their price objective on shares of Latham Group from $4.00 to $4.50 and gave the company a “sell” rating in a research note on Thursday, May 8th. One research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.56.

Insiders Place Their Bets

In other Latham Group news, Director James E. Cline sold 45,583 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,152,324.60. This trade represents a 19.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.85% of the stock is currently owned by corporate insiders.

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.