Latham Group (NASDAQ:SWIM) Shares Gap Down Following Insider Selling

Shares of Latham Group, Inc. (NASDAQ:SWIM) gapped down before the market opened on Friday after an insider sold shares in the company. The stock had previously closed at $7.72, but opened at $7.54. Latham Group shares last traded at $7.71, with a volume of 27,263 shares trading hands.

Specifically, CEO Scott Michael Rajeski sold 22,191 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $8.34, for a total value of $185,072.94. Following the sale, the chief executive officer now directly owns 480,829 shares of the company’s stock, valued at $4,010,113.86. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

SWIM has been the topic of several research reports. The Goldman Sachs Group boosted their price objective on shares of Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Robert W. Baird upped their price target on Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Craig Hallum assumed coverage on Latham Group in a research note on Monday, December 9th. They set a “buy” rating and a $10.00 price objective for the company. Finally, Stifel Nicolaus increased their target price on Latham Group from $7.70 to $8.80 and gave the stock a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Latham Group presently has an average rating of “Hold” and a consensus price target of $6.65.

Latham Group Stock Performance

The company has a market capitalization of $870.62 million, a PE ratio of 83.68 and a beta of 1.84. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67. The business’s fifty day moving average is $6.59 and its two-hundred day moving average is $5.30.

Institutional Trading of Latham Group

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Latham Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock valued at $8,234,000 after buying an additional 17,259 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Latham Group by 21.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,342,142 shares of the company’s stock valued at $4,067,000 after acquiring an additional 234,930 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Latham Group by 2.1% in the third quarter. Geode Capital Management LLC now owns 971,731 shares of the company’s stock worth $6,609,000 after acquiring an additional 20,209 shares during the period. State Street Corp raised its holdings in shares of Latham Group by 5.4% during the third quarter. State Street Corp now owns 789,974 shares of the company’s stock valued at $5,372,000 after purchasing an additional 40,764 shares during the last quarter. Finally, Roubaix Capital LLC lifted its position in Latham Group by 70.9% during the third quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock valued at $5,178,000 after purchasing an additional 315,889 shares during the period. 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.