Latham Group (NASDAQ:SWIM) Sees Unusually-High Trading Volume – Here’s What Happened

Latham Group, Inc. (NASDAQ:SWIM) saw unusually-strong trading volume on Tuesday . 1,862,293 shares were traded during trading, an increase of 268% from the previous session’s volume of 506,078 shares.The stock last traded at $6.30 and had previously closed at $6.41.

Analysts Set New Price Targets

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

Latham Group Stock Performance

The firm has a market cap of $723.90 million, a PE ratio of 69.47 and a beta of 1.81. The business has a 50-day simple moving average of $6.85 and a 200 day simple moving average of $6.57. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.44 and a quick ratio of 1.60.

Insider Buying and Selling

In other Latham Group news, CEO Scott Michael Rajeski sold 22,191 shares of Latham Group stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $8.34, for a total value of $185,072.94. Following the sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SWIM. Pamplona Capital Management LLC bought a new position in Latham Group during the 4th quarter valued at about $360,846,000. Wynnchurch Capital Partners IV L.P. bought a new stake in shares of Latham Group during the fourth quarter worth $104,287,000. Voss Capital LP boosted its stake in shares of Latham Group by 29.1% during the fourth quarter. Voss Capital LP now owns 5,164,178 shares of the company’s stock valued at $35,943,000 after purchasing an additional 1,163,329 shares during the period. Wasatch Advisors LP bought a new position in shares of Latham Group in the fourth quarter worth about $17,408,000. Finally, Dimensional Fund Advisors LP increased its stake in Latham Group by 28.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,094,992 shares of the company’s stock worth $14,580,000 after buying an additional 458,604 shares during the period. 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.