Wynnchurch Capital Partners IV L.P. Acquires Shares of 14,983,771 Latham Group, Inc. (NASDAQ:SWIM)

Wynnchurch Capital Partners IV L.P. bought a new position in shares of Latham Group, Inc. (NASDAQ:SWIM) in the fourth quarter, HoldingsChannel reports. The firm bought 14,983,771 shares of the company’s stock, valued at approximately $104,287,000. Latham Group makes up approximately 100.0% of Wynnchurch Capital Partners IV L.P.’s investment portfolio, making the stock its largest holding. Wynnchurch Capital Partners IV L.P. owned 0.13% of Latham Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Roubaix Capital LLC boosted its holdings in Latham Group by 70.9% during the third quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock worth $5,178,000 after buying an additional 315,889 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Latham Group during the 3rd quarter valued at approximately $697,000. Thrivent Financial for Lutherans acquired a new stake in shares of Latham Group during the 3rd quarter valued at approximately $635,000. Empowered Funds LLC boosted its stake in shares of Latham Group by 22.8% during the 3rd quarter. Empowered Funds LLC now owns 358,927 shares of the company’s stock worth $2,441,000 after acquiring an additional 66,647 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Latham Group in the 3rd quarter worth approximately $438,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Latham Group

In other Latham Group news, CEO Scott Michael Rajeski sold 22,191 shares of Latham Group stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $8.34, for a total value of $185,072.94. Following the completion of the sale, the chief executive officer now directly owns 480,829 shares of the company’s stock, valued at approximately $4,010,113.86. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Latham Group Stock Performance

NASDAQ SWIM opened at $6.41 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67. The stock has a market cap of $741.12 million, a price-to-earnings ratio of 71.23 and a beta of 1.81. Latham Group, Inc. has a fifty-two week low of $2.38 and a fifty-two week high of $8.41. The business has a fifty day moving average of $6.85 and a 200-day moving average of $6.57.

Wall Street Analyst Weigh In

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

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.