Latham Group (NASDAQ:SWIM) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Latham Group, Inc. (NASDAQ:SWIM) saw strong trading volume on Friday . 625,292 shares were traded during mid-day trading, an increase of 15% from the previous session’s volume of 543,161 shares.The stock last traded at $6.61 and had previously closed at $6.99.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SWIM. Stifel Nicolaus boosted their price target on Latham Group from $7.70 to $8.80 and gave the company a “buy” rating in a report on Wednesday, December 11th. Craig Hallum began 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, Robert W. Baird set a $8.50 target price on shares of Latham Group in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Latham Group has an average rating of “Hold” and a consensus price target of $7.66.

Latham Group Price Performance

The firm has a 50-day moving average of $6.77 and a 200-day moving average of $6.69. The stock has a market cap of $744.45 million, a PE ratio of 71.45 and a beta of 1.84. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.44 and a quick ratio of 1.60.

Insider Buying and Selling at Latham Group

In other news, major shareholder Wc Partners Executive Iv, L.P. sold 105,250 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $6.54, for a total transaction of $688,335.00. Following the completion of the transaction, the insider now owns 332,818 shares in the company, valued at $2,176,629.72. This trade represents a 24.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Latham Group

Hedge funds have recently made changes to their positions in the company. Wynnchurch Capital Partners IV L.P. bought a new stake in Latham Group in the 4th quarter worth approximately $104,287,000. Principal Financial Group Inc. bought a new stake in Latham Group in the third quarter worth $697,000. Barclays PLC raised its stake in Latham Group by 294.8% during the third quarter. Barclays PLC now owns 54,720 shares of the company’s stock valued at $372,000 after purchasing an additional 40,860 shares in the last quarter. ABS Direct Equity Fund LLC grew its stake in shares of Latham Group by 33.3% in the 4th quarter. ABS Direct Equity Fund LLC now owns 200,000 shares of the company’s stock worth $1,392,000 after buying an additional 50,000 shares in the last quarter. Finally, Thrivent Financial for Lutherans bought a new stake in shares of Latham Group in the 3rd quarter worth about $635,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

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.