Victory Capital Management Inc. Cuts Stock Holdings in Latham Group, Inc. (NASDAQ:SWIM)

Victory Capital Management Inc. trimmed its holdings in shares of Latham Group, Inc. (NASDAQ:SWIM) by 9.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,601,333 shares of the company’s stock after selling 270,251 shares during the period. Victory Capital Management Inc.’s holdings in Latham Group were worth $7,882,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Roubaix Capital LLC raised its holdings in Latham Group by 104.1% during the 2nd quarter. Roubaix Capital LLC now owns 445,652 shares of the company’s stock valued at $1,350,000 after acquiring an additional 227,349 shares during the period. Ritholtz Wealth Management purchased a new stake in shares of Latham Group in the second quarter worth about $55,000. Panagora Asset Management Inc. boosted its position in shares of Latham Group by 1.6% in the second quarter. Panagora Asset Management Inc. now owns 197,072 shares of the company’s stock valued at $597,000 after acquiring an additional 3,161 shares during the period. BloombergSen Inc. grew its stake in Latham Group by 24.3% during the second quarter. BloombergSen Inc. now owns 48,560 shares of the company’s stock valued at $147,000 after acquiring an additional 9,506 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Latham Group by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 177,134 shares of the company’s stock worth $537,000 after acquiring an additional 3,837 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

SWIM has been the topic of several research analyst reports. Stifel Nicolaus upped their price target on shares of Latham Group from $4.75 to $6.80 and gave the stock a “buy” rating in a report on Friday, August 30th. Robert W. Baird upped their price objective on shares of Latham Group from $5.00 to $5.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Barclays boosted their price target on shares of Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th.

Insider Activity at Latham Group

In other Latham Group news, VP Suraj Kunchala sold 10,139 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $5.06, for a total transaction of $51,303.34. Following the transaction, the vice president now directly owns 38,748 shares of the company’s stock, valued at approximately $196,064.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Suraj Kunchala sold 10,139 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $5.06, for a total value of $51,303.34. Following the completion of the transaction, the vice president now directly owns 38,748 shares in the company, valued at approximately $196,064.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Michael Rajeski sold 25,851 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $6.54, for a total transaction of $169,065.54. Following the sale, the chief executive officer now directly owns 490,829 shares in the company, valued at approximately $3,210,021.66. The disclosure for this sale can be found here. Insiders sold a total of 72,932 shares of company stock worth $441,364 over the last quarter. 8.60% of the stock is owned by corporate insiders.

Latham Group Trading Up 1.3 %

SWIM stock opened at $6.25 on Monday. The company has a market capitalization of $722.33 million, a PE ratio of 208.33 and a beta of 1.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.15 and a current ratio of 3.22. Latham Group, Inc. has a one year low of $2.04 and a one year high of $6.68. The company’s 50 day moving average price is $4.69 and its two-hundred day moving average price is $3.87.

Latham Group (NASDAQ:SWIM) last issued its earnings results on Tuesday, August 6th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The company had revenue of $160.12 million for the quarter, compared to analysts’ expectations of $156.00 million. Latham Group had a net margin of 2.24% and a return on equity of 2.93%. As a group, analysts predict that Latham Group, Inc. will post -0.03 earnings per share for the current fiscal year.

Latham Group 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.