Latham Group (NASDAQ:SWIM) Trading 11.1% Higher – Time to Buy?

Latham Group, Inc. (NASDAQ:SWIM)’s share price shot up 11.1% during mid-day trading on Monday . The stock traded as high as $7.27 and last traded at $7.20. 117,327 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 447,265 shares. The stock had previously closed at $6.48.

Analyst Ratings Changes

SWIM has been the topic of several research analyst reports. Craig Hallum assumed coverage on Latham Group in a research note on Monday. They set a “buy” rating and a $10.00 target price on the stock. Stifel Nicolaus upped their price objective on shares of Latham Group from $7.00 to $7.70 and gave the company a “buy” rating in a research note on Monday, November 25th. Barclays lifted their target price on shares of Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. The Goldman Sachs Group upped their price target 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. Finally, Robert W. Baird increased their price objective on Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.47.

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 firm has a market cap of $817.43 million, a price-to-earnings ratio of 80.01 and a beta of 1.84. The firm’s 50 day moving average is $6.49 and its 200-day moving average is $5.18.

Insider Activity

In other 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 value of $65,791.04. Following 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 trade represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Sanjeev Bahl sold 11,750 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $5.90, for a total value of $69,325.00. Following the completion of the sale, the chief operating officer now directly owns 262,811 shares in the company, valued at $1,550,584.90. This trade represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. 7.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Latham Group

A number of institutional investors have recently bought and sold shares of SWIM. Vanguard Group Inc. lifted its holdings in shares of Latham Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock worth $8,234,000 after acquiring an additional 17,259 shares during the period. Diversified Trust Co bought a new position in Latham Group during the second quarter worth about $34,000. Bank of New York Mellon Corp boosted its holdings in Latham Group by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 177,134 shares of the company’s stock valued at $537,000 after purchasing an additional 3,837 shares in the last quarter. BloombergSen Inc. grew its stake in shares of Latham Group by 24.3% in the 2nd quarter. BloombergSen Inc. now owns 48,560 shares of the company’s stock valued at $147,000 after purchasing an additional 9,506 shares during the period. Finally, Panagora Asset Management Inc. raised its holdings in shares of Latham Group by 1.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 197,072 shares of the company’s stock worth $597,000 after buying an additional 3,161 shares in the last quarter. Institutional investors and hedge funds 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.