Latham Group (NASDAQ:SWIM) Stock Price Up 11.1% – Still a Buy?

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SWIM shares. Barclays increased their target price on shares of Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Robert W. Baird raised 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. Craig Hallum assumed coverage on Latham Group in a research report on Monday. They set a “buy” rating and a $10.00 target price on the stock. Stifel Nicolaus lifted their price target on Latham Group from $7.00 to $7.70 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, The Goldman Sachs Group increased their price objective 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. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.47.

Latham Group Trading Up 9.1 %

The business has a fifty day moving average price of $6.49 and a 200 day moving average price of $5.18. The company has a market capitalization of $817.43 million, a PE ratio of 80.01 and a beta of 1.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.60 and a current ratio of 2.44.

Insider Activity

In other news, COO Sanjeev Bahl sold 11,750 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $5.90, for a total transaction of $69,325.00. Following the completion of the transaction, the chief operating officer now owns 262,811 shares in the company, valued at approximately $1,550,584.90. This represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Oliver C. Gloe sold 10,216 shares of Latham Group stock in a transaction dated Thursday, October 31st. The shares were 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 in the company, valued at approximately $1,820,626.64. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.60% of the company’s stock.

Institutional Trading of Latham Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SWIM. FMR LLC boosted its position in shares of Latham Group by 75.9% in the 3rd quarter. FMR LLC now owns 7,239 shares of the company’s stock valued at $49,000 after purchasing an additional 3,123 shares during the period. Panagora Asset Management Inc. boosted its holdings in shares of Latham Group by 1.6% in the second 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 during the period. Bank of New York Mellon Corp increased its position in shares of Latham Group by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 177,134 shares of the company’s stock worth $537,000 after acquiring an additional 3,837 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Latham Group by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 333,206 shares of the company’s stock valued at $2,266,000 after acquiring an additional 7,502 shares during the period. Finally, Quarry LP purchased a new stake in shares of Latham Group in the 3rd quarter valued at approximately $53,000. 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.