Latham Group (NASDAQ:SWIM) Reaches New 1-Year High After Analyst Upgrade

Latham Group, Inc. (NASDAQ:SWIM) shares reached a new 52-week high during mid-day trading on Tuesday 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 $6.83 and last traded at $6.73, with a volume of 167752 shares. The stock had previously closed at $6.43.

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

Insider Buying and Selling at Latham Group

In other news, VP Suraj Kunchala sold 10,139 shares of the firm’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 sale, the vice president now owns 38,748 shares of the company’s stock, valued at approximately $196,064.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Latham Group news, CEO Scott Michael Rajeski sold 33,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.09, for a total value of $200,970.00. Following the completion of the sale, the chief executive officer now owns 516,680 shares in the company, valued at approximately $3,146,581.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Suraj Kunchala sold 10,139 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $5.06, for a total value of $51,303.34. Following the completion of the transaction, the vice president now directly owns 38,748 shares in the company, valued at $196,064.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,932 shares of company stock worth $441,364. Insiders own 8.60% of the company’s stock.

Institutional Trading of Latham Group

Hedge funds have recently bought and sold shares of the stock. Oxford Asset Management LLP bought a new stake in shares of Latham Group in the 4th quarter worth about $46,000. Premier Fund Managers Ltd raised its holdings in shares of Latham Group by 55.7% in the fourth quarter. Premier Fund Managers Ltd now owns 199,536 shares of the company’s stock valued at $542,000 after acquiring an additional 71,343 shares in the last quarter. Cullen Capital Management LLC boosted its stake in shares of Latham Group by 50.4% during the fourth quarter. Cullen Capital Management LLC now owns 76,059 shares of the company’s stock valued at $200,000 after purchasing an additional 25,491 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Latham Group in the 4th quarter valued at about $32,000. Finally, Empowered Funds LLC lifted its holdings in shares of Latham Group by 8.2% during the 1st quarter. Empowered Funds LLC now owns 271,220 shares of the company’s stock valued at $1,074,000 after purchasing an additional 20,475 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Latham Group Price Performance

The stock has a 50 day moving average price of $4.92 and a two-hundred day moving average price of $3.94. The firm has a market cap of $744.29 million, a PE ratio of 214.67 and a beta of 1.87. The company has a quick ratio of 2.15, a current ratio of 3.22 and a debt-to-equity ratio of 0.68.

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