Cubist Systematic Strategies LLC Acquires 11,601 Shares of Latham Group, Inc. (NASDAQ:SWIM)

Cubist Systematic Strategies LLC grew its stake in Latham Group, Inc. (NASDAQ:SWIM) by 71.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 27,923 shares of the company’s stock after acquiring an additional 11,601 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Latham Group were worth $85,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Panagora Asset Management Inc. boosted its stake in Latham Group by 1.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 197,072 shares of the company’s stock valued at $597,000 after buying an additional 3,161 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Latham Group by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 177,134 shares of the company’s stock valued at $537,000 after purchasing an additional 3,837 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Latham Group by 69.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock worth $43,000 after purchasing an additional 4,484 shares during the last quarter. ELCO Management Co. LLC increased its position in shares of Latham Group by 8.6% during the 2nd quarter. ELCO Management Co. LLC now owns 97,762 shares of the company’s stock worth $296,000 after purchasing an additional 7,762 shares in the last quarter. Finally, BloombergSen Inc. lifted its holdings in Latham Group by 24.3% during the 2nd quarter. BloombergSen Inc. now owns 48,560 shares of the company’s stock valued at $147,000 after purchasing an additional 9,506 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Latham Group Price Performance

Shares of SWIM stock opened at $7.01 on Wednesday. Latham Group, Inc. has a 1 year low of $2.04 and a 1 year high of $7.15. The company has a current ratio of 3.22, a quick ratio of 2.15 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average is $6.21 and its 200-day moving average is $4.38. The firm has a market capitalization of $810.17 million, a price-to-earnings ratio of 233.67 and a beta of 1.88.

Latham Group (NASDAQ:SWIM) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. The firm had revenue of $160.12 million for the quarter, compared to analyst estimates of $156.00 million. Latham Group had a return on equity of 2.93% and a net margin of 2.24%. Sell-side analysts forecast that Latham Group, Inc. will post -0.02 EPS for the current fiscal year.

Insider Activity at Latham Group

In other Latham Group news, 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 completion of the sale, the chief executive officer now directly owns 490,829 shares of the company’s stock, valued at approximately $3,210,021.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Suraj Kunchala sold 10,139 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $5.06, for a total value of $51,303.34. Following the transaction, the vice president now owns 38,748 shares of the company’s stock, valued at $196,064.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott Michael Rajeski sold 25,851 shares of Latham Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $6.54, for a total value of $169,065.54. Following the sale, the chief executive officer now directly owns 490,829 shares of the company’s stock, valued at approximately $3,210,021.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,932 shares of company stock worth $441,364 over the last 90 days. Insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Robert W. Baird raised their price objective on shares of Latham Group from $5.00 to $5.50 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Barclays raised their price target on Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus boosted their price objective on Latham Group from $6.80 to $7.00 and gave the stock a “buy” rating in a research note on Monday, September 16th.

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.