Latham Group (NASDAQ:SWIM) Stock Price Down 6.3% – Here’s Why

Latham Group, Inc. (NASDAQ:SWIM) was down 6.3% during mid-day trading on Tuesday . The stock traded as low as $6.49 and last traded at $6.50. Approximately 189,836 shares changed hands during trading, a decline of 58% from the average daily volume of 447,445 shares. The stock had previously closed at $6.94.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. 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 report on Wednesday, November 6th. Barclays lifted their price target on 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 increased their price objective on Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus boosted their target price on shares of Latham Group from $7.00 to $7.70 and gave the stock a “buy” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.76.

Latham Group Stock Down 1.1 %

The stock has a market capitalization of $761.94 million, a PE ratio of 72.67 and a beta of 1.88. The firm has a 50 day moving average of $6.48 and a two-hundred day moving average of $5.03. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67.

Insider Activity at Latham Group

In other news, CFO Oliver C. Gloe sold 10,216 shares of Latham Group stock in a transaction on Thursday, October 31st. The stock was 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 owns 282,706 shares of the company’s stock, valued at $1,820,626.64. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Sanjeev Bahl sold 11,750 shares of Latham Group stock in a transaction 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 of the company’s stock, valued at approximately $1,550,584.90. This 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 company insiders.

Institutional Investors Weigh In On Latham Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted its holdings in Latham Group by 75.9% in the third quarter. FMR LLC now owns 7,239 shares of the company’s stock valued at $49,000 after acquiring an additional 3,123 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Latham Group by 1.6% in the second quarter. Panagora Asset Management Inc. now owns 197,072 shares of the company’s stock valued at $597,000 after acquiring an additional 3,161 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in 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 valued at $537,000 after acquiring an additional 3,837 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Latham Group by 69.2% in the first quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock valued at $43,000 after acquiring an additional 4,484 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Latham Group by 2.3% in 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 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.