Latham Group (NASDAQ:SWIM) Trading 3.8% Higher – Still a Buy?

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

Analyst Upgrades and Downgrades

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

Latham Group Price Performance

The company has a debt-to-equity ratio of 0.67, a current ratio of 2.44 and a quick ratio of 1.60. The firm has a fifty day moving average of $6.65 and a two-hundred day moving average of $5.61. The stock has a market capitalization of $804.75 million, a P/E ratio of 77.34 and a beta of 1.84.

Insider Buying and Selling

In related news, CFO Oliver C. Gloe sold 10,216 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $6.44, for a total transaction of $65,791.04. Following the sale, the chief financial officer now owns 282,706 shares of the company’s stock, valued at $1,820,626.64. This trade represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Michael Rajeski sold 22,191 shares of Latham Group 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 completion of the transaction, the chief executive officer now owns 480,829 shares in the company, valued at $4,010,113.86. This trade represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,157 shares of company stock valued at $320,189 over the last 90 days. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Latham Group

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake 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 worth $4,067,000 after acquiring an additional 234,930 shares in the last quarter. Geode Capital Management LLC grew its holdings in 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 purchasing an additional 20,209 shares during the last quarter. State Street Corp increased its position 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 worth $5,372,000 after purchasing an additional 40,764 shares in the last quarter. Roubaix Capital LLC increased its position in shares of Latham Group by 70.9% during the third quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock worth $5,178,000 after purchasing an additional 315,889 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Latham Group by 11.2% during the 2nd quarter. Renaissance Technologies LLC now owns 690,856 shares of the company’s stock valued at $2,093,000 after purchasing an additional 69,356 shares during the last quarter. 83.95% of the stock is currently owned by 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.