Principal Financial Group Inc. Makes New Investment in Latham Group, Inc. (NASDAQ:SWIM)

Principal Financial Group Inc. acquired a new stake in Latham Group, Inc. (NASDAQ:SWIM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 102,446 shares of the company’s stock, valued at approximately $697,000. Principal Financial Group Inc. owned 0.09% of Latham Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Latham Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock valued at $8,234,000 after buying an additional 17,259 shares during the period. Dimensional Fund Advisors LP increased its stake in Latham Group by 21.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,342,142 shares of the company’s stock worth $4,067,000 after acquiring an additional 234,930 shares during the last quarter. Roubaix Capital LLC raised its position in Latham Group by 70.9% in the third quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock valued at $5,178,000 after purchasing an additional 315,889 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Latham Group by 11.2% in the 2nd quarter. Renaissance Technologies LLC now owns 690,856 shares of the company’s stock valued at $2,093,000 after purchasing an additional 69,356 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Latham Group by 103.7% during the 2nd quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock worth $1,269,000 after purchasing an additional 213,128 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Sanjeev Bahl sold 11,750 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $5.90, for a total transaction of $69,325.00. Following the sale, the chief operating officer now owns 262,811 shares of the company’s stock, valued at approximately $1,550,584.90. This trade represents a 4.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Michael Rajeski sold 25,851 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $6.54, for a total transaction of $169,065.54. Following the completion of the transaction, the chief executive officer now owns 490,829 shares in the company, valued at $3,210,021.66. This represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,817 shares of company stock worth $304,182 over the last 90 days. 8.60% of the stock is owned by insiders.

Latham Group Price Performance

SWIM stock opened at $6.89 on Friday. The business’s 50-day moving average is $6.47 and its two-hundred day moving average is $4.98. 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 1 year low of $2.11 and a 1 year high of $7.33. The firm has a market capitalization of $796.62 million, a P/E ratio of 76.56 and a beta of 1.88.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SWIM shares. Stifel Nicolaus increased their target price on shares of Latham Group from $6.80 to $7.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Barclays boosted their target price on Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Robert W. Baird lifted their price objective on Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their target price on Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Latham Group has an average rating of “Hold” and an average price target of $5.62.

Latham Group 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.