Geode Capital Management LLC Purchases 20,209 Shares of Latham Group, Inc. (NASDAQ:SWIM)

Geode Capital Management LLC increased its position in Latham Group, Inc. (NASDAQ:SWIM) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 971,731 shares of the company’s stock after acquiring an additional 20,209 shares during the period. Geode Capital Management LLC’s holdings in Latham Group were worth $6,609,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its position in Latham Group by 75.9% in the third quarter. FMR LLC now owns 7,239 shares of the company’s stock worth $49,000 after purchasing an additional 3,123 shares during the last quarter. Bank of New York Mellon Corp lifted 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 worth $537,000 after purchasing an additional 3,837 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Latham Group by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 333,206 shares of the company’s stock worth $2,266,000 after purchasing an additional 7,502 shares during the period. Quarry LP purchased a new position in shares of Latham Group in the third quarter worth approximately $53,000. Finally, ELCO Management Co. LLC grew its position in Latham Group by 8.6% during the second quarter. ELCO Management Co. LLC now owns 97,762 shares of the company’s stock valued at $296,000 after buying an additional 7,762 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Latham Group Stock Up 0.8 %

SWIM opened at $6.57 on Friday. The stock has a market cap of $759.66 million, a price-to-earnings ratio of 73.01 and a beta of 1.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.60 and a current ratio of 2.44. The firm’s fifty day moving average is $6.65 and its 200 day moving average is $5.64. Latham Group, Inc. has a fifty-two week low of $2.11 and a fifty-two week high of $8.41.

Analysts Set New Price Targets

Several research firms have weighed in on SWIM. Craig Hallum started coverage on shares of Latham Group in a research report on Monday, December 9th. They issued a “buy” rating and a $10.00 price target on the stock. Stifel Nicolaus raised their target price on Latham Group from $7.70 to $8.80 and gave the stock a “buy” rating in a report on Wednesday, December 11th. The Goldman Sachs Group boosted their price target on Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird raised their price objective on Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Latham Group presently has an average rating of “Hold” and a consensus target price of $6.65.

Insider Activity

In other Latham Group news, CFO Oliver C. Gloe sold 10,216 shares of Latham Group stock in a transaction 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 approximately $1,820,626.64. The trade was a 3.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott Michael Rajeski sold 22,191 shares of Latham Group stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $8.34, for a total transaction of $185,072.94. Following the completion of the sale, the chief executive officer now owns 480,829 shares in the company, valued at approximately $4,010,113.86. This represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,157 shares of company stock worth $320,189 over the last ninety days. Corporate insiders own 8.60% of the company’s stock.

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.