Latham Group (NASDAQ:SWIM) Trading Down 4.5% on Insider Selling

Latham Group, Inc. (NASDAQ:SWIM) shares were down 4.5% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $6.11 and last traded at $6.15. Approximately 38,040 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 398,463 shares. The stock had previously closed at $6.44.

Specifically, CEO Scott Michael Rajeski sold 25,851 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $6.54, for a total value of $169,065.54. Following the completion of the sale, the chief executive officer now directly owns 490,829 shares in the company, valued at $3,210,021.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SWIM. Barclays increased their price objective on Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Robert W. Baird upped their target price on shares of Latham Group from $5.00 to $5.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th.

Latham Group Trading Down 1.5 %

The stock has a market capitalization of $700.37 million, a PE ratio of 202.00 and a beta of 1.76. The company has a current ratio of 3.22, a quick ratio of 2.15 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average price of $3.99 and a 200-day moving average price of $3.60.

Hedge Funds Weigh In On Latham Group

Several institutional investors have recently made changes to their positions in the business. Natixis Advisors L.P. grew its holdings in Latham Group by 50.1% during the fourth quarter. Natixis Advisors L.P. now owns 877,079 shares of the company’s stock valued at $2,306,000 after purchasing an additional 292,885 shares during the period. Public Employees Retirement System of Ohio grew its stake in Latham Group by 69.2% during the first quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock valued at $43,000 after acquiring an additional 4,484 shares in the last quarter. Vanguard Group Inc. increased its holdings in Latham Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock valued at $8,234,000 after acquiring an additional 17,259 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Latham Group by 113.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,388 shares of the company’s stock worth $30,000 after purchasing an additional 6,060 shares in the last quarter. Finally, Oxford Asset Management LLP bought a new position in shares of Latham Group during the 4th quarter valued at about $46,000. Institutional investors own 83.95% 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.