Latham Group (NASDAQ:SWIM) Trading Down 4.6% – What’s Next?

Latham Group, Inc. (NASDAQ:SWIM)’s share price dropped 4.6% during mid-day trading on Thursday . The company traded as low as $6.63 and last traded at $6.64. Approximately 167,328 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 467,921 shares. The stock had previously closed at $6.96.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. The Goldman Sachs Group lifted their price target on Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Craig Hallum began coverage on Latham Group in a research report on Monday, December 9th. They issued a “buy” rating and a $10.00 target price for the company. Stifel Nicolaus upped their price target on Latham Group from $7.70 to $8.80 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Robert W. Baird lifted their price objective on shares of Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.65.

Latham Group Stock Performance

The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.60 and a current ratio of 2.44. The stock has a 50 day moving average of $6.65 and a 200 day moving average of $5.64. The stock has a market capitalization of $759.66 million, a P/E ratio of 73.01 and a beta of 1.84.

Insider Transactions at Latham Group

In other news, CFO Oliver C. Gloe sold 10,216 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $6.44, for a total value of $65,791.04. Following the completion of the sale, the chief financial officer now directly owns 282,706 shares of the company’s stock, valued at approximately $1,820,626.64. This represents a 3.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott Michael Rajeski sold 22,191 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $8.34, for a total transaction of $185,072.94. Following the completion of the transaction, the chief executive officer now owns 480,829 shares of the company’s stock, valued at $4,010,113.86. This trade represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,157 shares of company stock worth $320,189. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Latham Group

A number of institutional investors have recently added to or reduced their stakes in the company. Roubaix Capital LLC raised its stake in shares of Latham Group by 70.9% in the 3rd quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock worth $5,178,000 after buying an additional 315,889 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Latham Group by 21.2% during the second 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 during the period. American Century Companies Inc. raised its position in Latham Group by 103.7% in the second quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock worth $1,269,000 after acquiring an additional 213,128 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Latham Group in the 3rd quarter valued at about $697,000. Finally, Thrivent Financial for Lutherans acquired a new stake in Latham Group in the 3rd quarter valued at about $635,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

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.