AlphaCrest Capital Management LLC Makes New Investment in Latham Group, Inc. (NASDAQ:SWIM)

Posted by on Mar 8th, 2023

AlphaCrest Capital Management LLC purchased a new stake in shares of Latham Group, Inc. (NASDAQ:SWIM – Get Rating) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 198,443 shares of the company’s stock, valued at approximately $712,000. AlphaCrest Capital Management LLC owned 0.17% of Latham Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ensign Peak Advisors Inc acquired a new position in Latham Group during the 1st quarter valued at $85,000. Point72 Hong Kong Ltd acquired a new position in shares of Latham Group during the first quarter valued at about $88,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Latham Group in the second quarter valued at about $47,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Latham Group in the third quarter valued at about $34,000. Finally, Creative Planning acquired a new stake in Latham Group during the third quarter worth about $36,000. 31.00% of the stock is owned by institutional investors and hedge funds.

Latham Group Stock Up 15.5 %

Shares of SWIM opened at $3.88 on Wednesday. The company has a market capitalization of $454.43 million, a P/E ratio of 55.43, a PEG ratio of 1.57 and a beta of 1.28. Latham Group, Inc. has a one year low of $2.75 and a one year high of $17.50. The business’s 50 day simple moving average is $3.68 and its 200-day simple moving average is $3.96. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.71 and a quick ratio of 1.28.

Wall Street Analysts Forecast Growth

SWIM has been the subject of several recent research reports. Morgan Stanley cut their price target on Latham Group from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Friday, January 6th. Robert W. Baird decreased their price target on shares of Latham Group from $8.00 to $6.00 in a research note on Monday, November 14th. Stifel Nicolaus began coverage on shares of Latham Group in a research note on Monday, December 12th. They issued a “hold” rating and a $3.00 price objective for the company. Barclays lowered shares of Latham Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $7.00 to $5.00 in a research report on Wednesday, December 14th. Finally, Truist Financial dropped their price target on shares of Latham Group from $10.00 to $6.00 in a research report on Monday, November 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.56.

Latham Group Profile

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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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Institutional Ownership by Quarter for Latham Group (NASDAQ:SWIM)

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