Latham Group (NASDAQ:SWIM) Trading Up 3.8% – What’s Next?

Latham Group, Inc. (NASDAQ:SWIM) shares traded up 3.8% during trading on Tuesday . The company traded as high as $7.09 and last traded at $7.07. 152,554 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 466,385 shares. The stock had previously closed at $6.81.

Analysts Set New Price Targets

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

Latham Group Trading Up 3.8 %

The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $6.64 and its 200-day moving average price is $5.58. The firm has a market cap of $817.47 million, a price-to-earnings ratio of 78.56 and a beta of 1.84.

Insiders Place Their Bets

In related news, COO Sanjeev Bahl sold 11,750 shares of Latham Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $5.90, for a total transaction 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 trade represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott Michael Rajeski sold 22,191 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $8.34, for a total transaction of $185,072.94. Following the transaction, the chief executive officer now directly owns 480,829 shares in the company, valued at approximately $4,010,113.86. The trade was a 4.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 44,157 shares of company stock worth $320,189. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Latham Group

A number of institutional investors have recently bought and sold shares of the company. FMR LLC lifted its holdings in Latham Group by 75.9% in the third quarter. FMR LLC now owns 7,239 shares of the company’s stock valued at $49,000 after acquiring an additional 3,123 shares during the last quarter. Quarry LP acquired a new position in shares of Latham Group in the 3rd quarter valued at $53,000. Quadrature Capital Ltd purchased a new position in shares of Latham Group during the 3rd quarter worth $72,000. Voya Financial Advisors Inc. acquired a new stake in shares of Latham Group during the 3rd quarter worth about $89,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Latham Group during the 3rd quarter worth about $92,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

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.