Insider Selling: Latham Group, Inc. (NASDAQ:SWIM) Major Shareholder Sells $688,335.00 in Stock

Latham Group, Inc. (NASDAQ:SWIM) major shareholder Wc Partners Executive Iv, L.P. sold 105,250 shares of Latham Group stock in a transaction on Friday, March 14th. The stock was sold at an average price of $6.54, for a total transaction of $688,335.00. Following the sale, the insider now directly owns 332,818 shares of the company’s stock, valued at $2,176,629.72. This represents a 24.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Latham Group Stock Down 4.1 %

Shares of NASDAQ:SWIM opened at $6.28 on Friday. The stock has a market capitalization of $727.08 million, a P/E ratio of 69.79 and a beta of 1.84. The stock’s 50-day moving average price is $6.75 and its 200-day moving average price is $6.65. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67. Latham Group, Inc. has a 12-month low of $2.38 and a 12-month high of $8.41.

Hedge Funds Weigh In On Latham Group

Several institutional investors and hedge funds have recently bought and sold shares of SWIM. Summit Securities Group LLC purchased a new stake in shares of Latham Group during the fourth quarter valued at approximately $33,000. BNP Paribas Financial Markets bought a new stake in Latham Group during the 4th quarter valued at $42,000. FMR LLC raised 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 buying an additional 3,123 shares during the last quarter. Quarry LP purchased a new stake in Latham Group during the 3rd quarter valued at $53,000. Finally, Quadrature Capital Ltd bought a new stake in Latham Group in the 3rd quarter worth $72,000. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SWIM has been the subject of several research analyst reports. Craig Hallum began coverage on Latham Group in a research note on Monday, December 9th. They set a “buy” rating and a $10.00 price target for the company. Robert W. Baird set a $8.50 target price on Latham Group in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus upped their target price on Latham Group from $7.70 to $8.80 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.66.

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.