Latham Group (NASDAQ:SWIM) Stock Price Up 4.2% After Analyst Upgrade

Shares of Latham Group, Inc. (NASDAQ:SWIM) shot up 4.2% during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $6.80 to $7.00. Stifel Nicolaus currently has a buy rating on the stock. Latham Group traded as high as $6.62 and last traded at $6.51. 95,921 shares traded hands during trading, a decline of 76% from the average session volume of 399,001 shares. The stock had previously closed at $6.25.

A number of other analysts also recently commented on SWIM. Robert W. Baird boosted their price target on shares of Latham Group from $5.00 to $5.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Barclays boosted their target price on Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th.

Insiders Place Their Bets

In other news, CEO Scott Michael Rajeski sold 33,000 shares of Latham Group stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.09, for a total value of $200,970.00. Following the transaction, the chief executive officer now owns 516,680 shares of the company’s stock, valued at approximately $3,146,581.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Suraj Kunchala sold 10,139 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $5.06, for a total value of $51,303.34. Following the completion of the transaction, the vice president now owns 38,748 shares in the company, valued at approximately $196,064.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Michael Rajeski sold 33,000 shares of Latham Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $6.09, for a total value of $200,970.00. Following the completion of the transaction, the chief executive officer now directly owns 516,680 shares in the company, valued at approximately $3,146,581.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,932 shares of company stock worth $441,364. 8.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SWIM. Quadrature Capital Ltd purchased a new stake in shares of Latham Group in the 4th quarter valued at approximately $32,000. Diversified Trust Co acquired a new stake in shares of Latham Group in the second quarter worth $34,000. Public Employees Retirement System of Ohio grew its holdings in shares of Latham Group by 69.2% during the first quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock valued at $43,000 after buying an additional 4,484 shares in the last quarter. Oxford Asset Management LLP acquired a new position in Latham Group during the fourth quarter valued at $46,000. Finally, Burns Matteson Capital Management LLC purchased a new stake in Latham Group in the 2nd quarter worth about $49,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Latham Group Price Performance

The stock has a 50-day simple moving average of $4.69 and a 200 day simple moving average of $3.87. The company has a current ratio of 3.22, a quick ratio of 2.15 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $752.38 million, a price-to-earnings ratio of 208.33 and a beta of 1.87.

Latham Group (NASDAQ:SWIM) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. The business had revenue of $160.12 million for the quarter, compared to the consensus estimate of $156.00 million. Latham Group had a net margin of 2.24% and a return on equity of 2.93%. On average, equities research analysts forecast that Latham Group, Inc. will post -0.03 EPS for the current fiscal year.

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.