Arizona State Retirement System lifted its stake in shares of Latham Group, Inc. (NASDAQ:SWIM – Get Rating) by 60.0% during the first quarter, Holdings Channel reports. The firm owned 12,964 shares of the company’s stock after buying an additional 4,862 shares during the period. Arizona State Retirement System’s holdings in Latham Group were worth $172,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Latham Group in the 4th quarter valued at approximately $169,000. Alpha Paradigm Partners LLC acquired a new stake in Latham Group in the 4th quarter valued at approximately $403,000. DAVENPORT & Co LLC acquired a new stake in Latham Group in the 1st quarter valued at approximately $428,000. New York State Common Retirement Fund increased its position in shares of Latham Group by 27.4% during the 4th quarter. New York State Common Retirement Fund now owns 18,280 shares of the company’s stock valued at $458,000 after purchasing an additional 3,929 shares during the period. Finally, Laurel Wealth Advisors Inc. acquired a new position in shares of Latham Group during the 4th quarter valued at $629,000. 24.69% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Truist Financial lowered their price target on Latham Group from $25.00 to $21.00 in a research report on Friday, May 13th. Barclays lowered their price target on Latham Group from $19.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. Robert W. Baird reduced their price objective on Latham Group from $24.00 to $16.00 in a research note on Friday, May 13th. The Goldman Sachs Group lowered Latham Group from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $8.00 to $5.50 in a research note on Wednesday, July 13th. Finally, Morgan Stanley reduced their price objective on Latham Group from $12.00 to $8.00 and set an “equal weight” rating for the company in a research note on Friday, July 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Latham Group has an average rating of “Moderate Buy” and an average price target of $14.36.
Latham Group Stock Performance
Shares of Latham Group stock opened at $5.77 on Friday. The stock has a market cap of $689.94 million, a PE ratio of -8.68, a price-to-earnings-growth ratio of 0.12 and a beta of 0.36. The business has a fifty day simple moving average of $7.35 and a 200-day simple moving average of $11.84. The company has a quick ratio of 1.40, a current ratio of 2.53 and a debt-to-equity ratio of 0.84. Latham Group, Inc. has a 12 month low of $5.02 and a 12 month high of $27.25.
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, pool covers, and pool liners. The company was formerly known as Latham Topco, Inc and changed its name to Latham Group, Inc in March 2021.
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