Principal Financial Group Inc. Takes $697,000 Position in Latham Group, Inc. (NASDAQ:SWIM)

Principal Financial Group Inc. purchased a new position in Latham Group, Inc. (NASDAQ:SWIM) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 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 reporting period.

Several other hedge funds have also recently bought and sold shares of SWIM. Bank of New York Mellon Corp raised its stake in shares of Latham Group by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 177,134 shares of the company’s stock worth $537,000 after buying an additional 3,837 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in Latham Group by 27.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 151,547 shares of the company’s stock valued at $459,000 after acquiring an additional 32,410 shares in the last quarter. American Century Companies Inc. increased its holdings in Latham Group by 103.7% during the 2nd quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock valued at $1,269,000 after acquiring an additional 213,128 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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. Finally, Renaissance Technologies LLC lifted its holdings in shares of Latham Group by 11.2% in the second 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 in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Latham Group Stock Performance

Latham Group stock opened at $6.57 on Monday. 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 12 month low of $2.11 and a 12 month high of $8.41. The company has a market cap of $759.66 million, a price-to-earnings ratio of 73.01 and a beta of 1.84. The stock’s 50-day moving average is $6.65 and its 200-day moving average is $5.67.

Wall Street Analysts Forecast Growth

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

Insider Activity at Latham Group

In related news, CEO Scott Michael Rajeski sold 22,191 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $8.34, for a total value of $185,072.94. Following the completion of the sale, the chief executive officer now directly owns 480,829 shares in the company, valued at approximately $4,010,113.86. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Sanjeev Bahl sold 11,750 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $5.90, for a total value of $69,325.00. Following the transaction, the chief operating officer now owns 262,811 shares in the company, valued at approximately $1,550,584.90. This represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,157 shares of company stock worth $320,189. Company 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.