Cornercap Investment Counsel Inc. Sells 126,622 Shares of Latham Group, Inc. (NASDAQ:SWIM)

Cornercap Investment Counsel Inc. lowered its stake in shares of Latham Group, Inc. (NASDAQ:SWIM) by 54.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,699 shares of the company’s stock after selling 126,622 shares during the quarter. Cornercap Investment Counsel Inc. owned about 0.09% of Latham Group worth $719,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Diversified Trust Co bought a new stake in shares of Latham Group during the 2nd quarter worth $34,000. Public Employees Retirement System of Ohio boosted its holdings in Latham Group by 69.2% during the first quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock valued at $43,000 after acquiring an additional 4,484 shares during the period. Burns Matteson Capital Management LLC acquired a new stake in shares of Latham Group in the second quarter valued at about $49,000. Ritholtz Wealth Management bought a new position in shares of Latham Group in the second quarter worth about $55,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Latham Group during the 1st quarter worth about $80,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

SWIM has been the topic of a number of research analyst reports. Stifel Nicolaus raised their target price on Latham Group from $6.80 to $7.00 and gave the company a “buy” rating in a report on Monday, September 16th. Barclays raised their price objective 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. The Goldman Sachs Group upped their target price on shares of Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Finally, Robert W. Baird raised their price target on shares of Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Latham Group has an average rating of “Hold” and a consensus target price of $5.62.

Insider Buying and Selling

In related news, COO Sanjeev Bahl sold 11,750 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $5.90, for a total value of $69,325.00. Following the completion of the transaction, the chief operating officer now owns 262,811 shares of the company’s stock, valued at $1,550,584.90. This represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Oliver C. Gloe sold 10,216 shares of Latham Group stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $6.44, for a total value of $65,791.04. Following the sale, the chief financial officer now directly owns 282,706 shares in the company, valued at $1,820,626.64. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,817 shares of company stock valued at $304,182 over the last ninety days. 8.60% of the stock is owned by company insiders.

Latham Group Price Performance

Shares of NASDAQ:SWIM opened at $5.72 on Friday. The firm has a market capitalization of $660.80 million, a PE ratio of 63.50 and a beta of 1.88. 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 $7.33. The business’s 50 day moving average is $6.46 and its 200-day moving average is $4.85.

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.