Centiva Capital LP Acquires New Stake in Latham Group, Inc. (NASDAQ:SWIM)

Centiva Capital LP purchased a new position in Latham Group, Inc. (NASDAQ:SWIM) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 26,844 shares of the company’s stock, valued at approximately $183,000.

A number of other large investors also recently modified their holdings of SWIM. FMR LLC raised its holdings in shares of 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 period. Diversified Trust Co bought a new stake in Latham Group during the 2nd quarter valued at $34,000. Intech Investment Management LLC bought a new stake in Latham Group during the 3rd quarter valued at $92,000. SG Americas Securities LLC bought a new stake in shares of Latham Group in the 3rd quarter worth $105,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Latham Group during the third quarter worth $113,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Latham Group Stock Down 7.5 %

NASDAQ SWIM opened at $7.72 on Friday. 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 1-year low of $2.11 and a 1-year high of $8.41. The company has a 50 day moving average of $6.58 and a 200-day moving average of $5.27. The company has a market cap of $892.63 million, a price-to-earnings ratio of 85.78 and a beta of 1.84.

Insiders Place Their Bets

In other Latham Group news, CFO Oliver C. Gloe sold 10,216 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $6.44, for a total value of $65,791.04. Following the completion of the sale, the chief financial officer now owns 282,706 shares in the company, valued at approximately $1,820,626.64. This trade represents a 3.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott Michael Rajeski sold 22,191 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $8.34, for a total transaction of $185,072.94. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold 44,157 shares of company stock worth $320,189 over the last three months. Insiders own 7.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SWIM. Craig Hallum started coverage on Latham Group in a research note on Monday. They issued a “buy” rating and a $10.00 target price on the stock. Robert W. Baird upped their price target on Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Stifel Nicolaus upped their price objective on Latham Group from $7.70 to $8.80 and gave the company a “buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group increased their price target on Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Two analysts have 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. According to MarketBeat.com, 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.