Latham Group, Inc. $SWIM Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd increased its position in shares of Latham Group, Inc. (NASDAQ:SWIM) by 94.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 48,345 shares of the company’s stock after purchasing an additional 23,452 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Latham Group were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SWIM. ABS Direct Equity Fund LLC lifted its holdings in shares of Latham Group by 31.6% in the 2nd quarter. ABS Direct Equity Fund LLC now owns 250,000 shares of the company’s stock valued at $1,595,000 after buying an additional 60,000 shares during the period. New York State Common Retirement Fund boosted its position in shares of Latham Group by 51.4% during the 1st quarter. New York State Common Retirement Fund now owns 17,148 shares of the company’s stock worth $110,000 after purchasing an additional 5,820 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Latham Group by 2,471,716.7% during the 1st quarter. IFP Advisors Inc now owns 148,309 shares of the company’s stock worth $954,000 after purchasing an additional 148,303 shares during the period. Wellington Management Group LLP purchased a new position in shares of Latham Group in the 1st quarter valued at about $4,382,000. Finally, Bosun Asset Management LLC lifted its stake in shares of Latham Group by 1.3% in the first quarter. Bosun Asset Management LLC now owns 215,408 shares of the company’s stock valued at $1,385,000 after purchasing an additional 2,795 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SWIM. Barclays upped their target price on shares of Latham Group from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Stifel Nicolaus set a $8.75 price target on Latham Group in a report on Wednesday. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Latham Group in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.95.

Latham Group Stock Performance

NASDAQ SWIM opened at $6.83 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.39 and a debt-to-equity ratio of 0.70. Latham Group, Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $8.46. The business has a fifty day moving average of $7.58 and a 200-day moving average of $6.89. The stock has a market cap of $796.79 million, a price-to-earnings ratio of -68.29 and a beta of 1.71.

Insider Activity

In other news, Director Frank J. Dellaquila purchased 5,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was acquired at an average cost of $8.24 per share, for a total transaction of $41,200.00. Following the completion of the acquisition, the director directly owned 21,814 shares in the company, valued at $179,747.36. This represents a 29.74% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is 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.