Latham Group (NASDAQ:SWIM) Trading Down 4.6% – Here’s What Happened

Latham Group, Inc. (NASDAQ:SWIM) dropped 4.6% during trading on Thursday . The company traded as low as $6.63 and last traded at $6.64. 167,328 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 467,921 shares. The stock had previously closed at $6.96.

Analyst Ratings Changes

SWIM has been the topic of several research reports. Robert W. Baird increased their price target on shares of Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Stifel Nicolaus raised their price target on Latham Group from $7.70 to $8.80 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group upped their price objective on Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Finally, Craig Hallum assumed coverage on Latham Group in a research report on Monday, December 9th. They set a “buy” rating and a $10.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.65.

Latham Group Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 2.44 and a quick ratio of 1.60. The stock has a market cap of $759.66 million, a price-to-earnings ratio of 73.01 and a beta of 1.84. The firm’s 50-day moving average is $6.65 and its 200 day moving average is $5.64.

Insider Transactions at Latham Group

In other Latham Group news, COO Sanjeev Bahl sold 11,750 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $5.90, for a total transaction of $69,325.00. Following the transaction, the chief operating officer now owns 262,811 shares in the company, valued at $1,550,584.90. The trade was a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott Michael Rajeski sold 22,191 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $8.34, for a total value of $185,072.94. Following the completion of the sale, the chief executive officer now directly owns 480,829 shares of the company’s stock, valued at $4,010,113.86. The trade was a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,157 shares of company stock worth $320,189 in the last ninety days. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Latham Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its position 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 purchasing an additional 3,123 shares in the last quarter. Quarry LP acquired a new position in Latham Group in the 3rd quarter worth $53,000. Ritholtz Wealth Management purchased a new position in Latham Group in the 2nd quarter valued at about $55,000. Quadrature Capital Ltd acquired a new stake in shares of Latham Group during the third quarter valued at about $72,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Latham Group by 71.1% during the second quarter. Cubist Systematic Strategies LLC now owns 27,923 shares of the company’s stock worth $85,000 after acquiring an additional 11,601 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.