Cornerstone Investment Partners LLC Makes New $147,000 Investment in Latham Group, Inc. $SWIM

Cornerstone Investment Partners LLC acquired a new stake in shares of Latham Group, Inc. (NASDAQ:SWIM) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 23,012 shares of the company’s stock, valued at approximately $147,000.

Other institutional investors have also recently made changes to their positions in the company. Atria Investments Inc purchased a new position in shares of Latham Group in the 2nd quarter valued at approximately $280,000. Emerald Mutual Fund Advisers Trust lifted its position in Latham Group by 231.9% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 642,554 shares of the company’s stock valued at $4,099,000 after buying an additional 448,972 shares during the period. Emerald Advisers LLC boosted its holdings in shares of Latham Group by 234.4% during the 2nd quarter. Emerald Advisers LLC now owns 982,337 shares of the company’s stock valued at $6,267,000 after buying an additional 688,582 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of Latham Group by 94.2% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 48,345 shares of the company’s stock worth $308,000 after buying an additional 23,452 shares during the period. Finally, BloombergSen Inc. grew its position in shares of Latham Group by 106.4% in the 2nd quarter. BloombergSen Inc. now owns 271,885 shares of the company’s stock worth $1,735,000 after buying an additional 140,169 shares during the period. Institutional investors own 83.95% of the company’s stock.

Latham Group Stock Down 5.0%

NASDAQ:SWIM opened at $6.60 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.51 and a current ratio of 2.39. The firm has a market cap of $769.16 million, a P/E ratio of -65.99 and a beta of 1.71. Latham Group, Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $8.46. The firm has a 50-day simple moving average of $7.60 and a two-hundred day simple moving average of $6.86.

Insider Buying and Selling at Latham Group

In other news, Director Frank J. Dellaquila acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was bought at an average cost of $8.24 per share, for a total transaction of $41,200.00. Following the acquisition, the director directly owned 21,814 shares in the company, valued at approximately $179,747.36. The trade was a 29.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 8.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SWIM shares. Barclays boosted their price objective on shares of Latham Group from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Latham Group in a report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $8.75 price target on Latham Group in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.95.

Latham Group Company 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.