Bank of New York Mellon Corp Cuts Stake in Latham Group, Inc. (NASDAQ:SWIM)

Bank of New York Mellon Corp lowered its stake in shares of Latham Group, Inc. (NASDAQ:SWIM) by 4.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 148,676 shares of the company’s stock after selling 6,881 shares during the quarter. Bank of New York Mellon Corp’s holdings in Latham Group were worth $1,035,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Wynnchurch Capital Partners IV L.P. bought a new stake in Latham Group in the 4th quarter worth approximately $104,287,000. Geode Capital Management LLC grew its holdings in shares of Latham Group by 2.1% in the third quarter. Geode Capital Management LLC now owns 971,731 shares of the company’s stock valued at $6,609,000 after purchasing an additional 20,209 shares in the last quarter. State Street Corp grew its holdings in shares of Latham Group by 5.4% in the third quarter. State Street Corp now owns 789,974 shares of the company’s stock valued at $5,372,000 after purchasing an additional 40,764 shares in the last quarter. Empowered Funds LLC increased its position in Latham Group by 5.1% in the fourth quarter. Empowered Funds LLC now owns 377,291 shares of the company’s stock worth $2,626,000 after purchasing an additional 18,364 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Latham Group by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 333,206 shares of the company’s stock valued at $2,266,000 after purchasing an additional 7,502 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Wc Partners Executive Iv, L.P. sold 105,250 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $6.54, for a total value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is owned by company insiders.

Latham Group Trading Up 7.2 %

NASDAQ SWIM opened at $6.67 on Tuesday. Latham Group, Inc. has a 52 week low of $2.38 and a 52 week high of $8.41. The company has a 50 day moving average price of $6.75 and a 200 day moving average price of $6.66. 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 firm has a market cap of $772.23 million, a PE ratio of 74.12 and a beta of 1.84.

Analyst Ratings Changes

Several equities research analysts have weighed in on SWIM shares. Stifel Nicolaus boosted their price objective on Latham Group from $7.70 to $8.80 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Craig Hallum initiated coverage on Latham Group in a report on Monday, December 9th. They issued a “buy” rating and a $10.00 target price for the company. Finally, Robert W. Baird set a $8.50 price target on Latham Group in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.