Latham Group (NASDAQ:SWIM) Trading Up 4.2% After Analyst Upgrade

Shares of Latham Group, Inc. (NASDAQ:SWIM) were up 4.2% on Monday after Stifel Nicolaus raised their price target on the stock from $6.80 to $7.00. Stifel Nicolaus currently has a buy rating on the stock. Latham Group traded as high as $6.62 and last traded at $6.51. Approximately 95,921 shares changed hands during trading, a decline of 76% from the average daily volume of 399,001 shares. The stock had previously closed at $6.25.

Several other analysts have also recently issued reports on the company. Barclays upped their price objective on Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Robert W. Baird raised their price objective on Latham Group from $5.00 to $5.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th.

Insider Buying and Selling at Latham Group

In other news, VP Suraj Kunchala sold 10,139 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $5.06, for a total transaction of $51,303.34. Following the sale, the vice president now directly owns 38,748 shares in the company, valued at approximately $196,064.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Suraj Kunchala sold 10,139 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $5.06, for a total transaction of $51,303.34. Following the completion of the transaction, the vice president now owns 38,748 shares in the company, valued at $196,064.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Michael Rajeski sold 25,851 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $6.54, for a total transaction 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 approximately $3,210,021.66. The disclosure for this sale can be found here. Insiders sold a total of 72,932 shares of company stock worth $441,364 over the last ninety days. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Latham Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SWIM. Cubist Systematic Strategies LLC raised its stake in Latham Group by 71.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 27,923 shares of the company’s stock valued at $85,000 after acquiring an additional 11,601 shares in the last quarter. ELCO Management Co. LLC raised its stake in shares of Latham Group by 8.6% during the second quarter. ELCO Management Co. LLC now owns 97,762 shares of the company’s stock valued at $296,000 after purchasing an additional 7,762 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Latham Group by 11.2% in the second quarter. Renaissance Technologies LLC now owns 690,856 shares of the company’s stock worth $2,093,000 after purchasing an additional 69,356 shares during the period. Dimensional Fund Advisors LP grew its position in Latham Group by 21.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,342,142 shares of the company’s stock valued at $4,067,000 after buying an additional 234,930 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Latham Group by 103.7% during the 2nd quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock valued at $1,269,000 after buying an additional 213,128 shares during the period. 83.95% of the stock is owned by institutional investors.

Latham Group Price Performance

The business’s 50-day simple moving average is $4.76 and its 200 day simple moving average is $3.90. The company has a market capitalization of $743.13 million, a P/E ratio of 214.33 and a beta of 1.87. The company has a current ratio of 3.22, a quick ratio of 2.15 and a debt-to-equity ratio of 0.68.

Latham Group (NASDAQ:SWIM) last released its earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. Latham Group had a return on equity of 2.93% and a net margin of 2.24%. The firm had revenue of $160.12 million during the quarter, compared to the consensus estimate of $156.00 million. As a group, sell-side analysts anticipate that Latham Group, Inc. will post -0.03 EPS for the current year.

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.