Latham Group (NASDAQ:SWIM) Shares Gap Up – Still a Buy?

Latham Group, Inc. (NASDAQ:SWIM) gapped up before the market opened on Wednesday . The stock had previously closed at $5.46, but opened at $5.82. Latham Group shares last traded at $7.17, with a volume of 328,110 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently commented on SWIM. Craig Hallum initiated coverage on shares of Latham Group in a report on Monday, December 9th. They issued a “buy” rating and a $10.00 price objective on the stock. The Goldman Sachs Group upped their price target on shares of Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Robert W. Baird lifted their price objective on Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus upped 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, December 11th. 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 stock. According to MarketBeat, Latham Group presently has an average rating of “Hold” and a consensus price target of $6.65.

Latham Group Price Performance

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 stock has a 50-day moving average price of $6.70 and a 200 day moving average price of $6.58. The stock has a market capitalization of $823.25 million, a price-to-earnings ratio of 79.78 and a beta of 1.81.

Insider Buying and Selling at Latham Group

In other Latham Group news, CEO Scott Michael Rajeski sold 22,191 shares of the stock in a transaction 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 transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Latham Group

Institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC lifted its position in shares of Latham Group by 12.0% in the fourth quarter. LPL Financial LLC now owns 15,954 shares of the company’s stock valued at $111,000 after acquiring an additional 1,713 shares in the last quarter. Olympiad Research LP raised its stake in Latham Group by 8.0% in the 4th quarter. Olympiad Research LP now owns 25,418 shares of the company’s stock valued at $177,000 after purchasing an additional 1,889 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Latham Group by 15.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,856 shares of the company’s stock valued at $111,000 after purchasing an additional 2,168 shares in the last quarter. Rhumbline Advisers boosted its stake in Latham Group by 4.8% during the 4th quarter. Rhumbline Advisers now owns 64,502 shares of the company’s stock worth $449,000 after purchasing an additional 2,942 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Latham Group by 75.9% during the third quarter. FMR LLC now owns 7,239 shares of the company’s stock worth $49,000 after buying an additional 3,123 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.