Formula Growth Ltd. Trims Stock Position in Latham Group, Inc. (NASDAQ:SWIM)

Formula Growth Ltd. trimmed its holdings in Latham Group, Inc. (NASDAQ:SWIM) by 17.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,203,079 shares of the company’s stock after selling 259,045 shares during the period. Latham Group comprises about 2.8% of Formula Growth Ltd.’s investment portfolio, making the stock its largest holding. Formula Growth Ltd.’s holdings in Latham Group were worth $8,373,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Summit Securities Group LLC acquired a new position in Latham Group in the 4th quarter worth $33,000. FMR LLC lifted its holdings in shares of Latham Group by 75.9% in the third quarter. FMR LLC now owns 7,239 shares of the company’s stock valued at $49,000 after purchasing an additional 3,123 shares in the last quarter. US Bancorp DE boosted its position in shares of Latham Group by 29,902.6% during the fourth quarter. US Bancorp DE now owns 11,701 shares of the company’s stock worth $81,000 after buying an additional 11,662 shares during the period. Arizona State Retirement System bought a new position in shares of Latham Group during the fourth quarter worth about $82,000. Finally, EntryPoint Capital LLC acquired a new stake in Latham Group in the 4th quarter valued at approximately $109,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird set a $8.50 price target on Latham Group in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.66.

Latham Group Trading Up 1.7 %

Latham Group stock opened at $4.91 on Friday. The company has a market cap of $568.47 million, a price-to-earnings ratio of 54.56 and a beta of 1.70. The firm has a 50-day moving average of $6.23 and a 200-day moving average of $6.56. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.44 and a quick ratio of 1.60. Latham Group, Inc. has a one year low of $2.38 and a one year high of $8.41.

Insider Buying and Selling

In related news, major shareholder Wc Partners Executive Iv, L.P. sold 105,250 shares of the firm’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 completion of the transaction, the insider now directly owns 332,818 shares of the company’s stock, valued at approximately $2,176,629.72. This trade represents a 24.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is currently owned by corporate insiders.

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.