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

Shares of Latham Group, Inc. (NASDAQ:SWIM) saw unusually-strong trading volume on Wednesday . Approximately 231,541 shares traded hands during mid-day trading, a decline of 45% from the previous session’s volume of 417,557 shares.The stock last traded at $6.71 and had previously closed at $6.77.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Stifel Nicolaus increased their target price on Latham Group from $6.80 to $7.00 and gave the company a “buy” rating in a report on Monday, September 16th. Robert W. Baird increased their price objective on Latham Group from $5.00 to $5.50 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Barclays lifted their target price on shares of Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th.

Latham Group Stock Down 2.4 %

The company’s fifty day simple moving average is $6.40 and its 200 day simple moving average is $4.50. The company has a quick ratio of 2.15, a current ratio of 3.22 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $763.94 million, a PE ratio of 226.33 and a beta of 1.88.

Latham Group (NASDAQ:SWIM) last released its earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. Latham Group had a net margin of 2.24% and a return on equity of 2.93%. The firm had revenue of $160.12 million for the quarter, compared to the consensus estimate of $156.00 million. Analysts anticipate that Latham Group, Inc. will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Latham Group news, CEO Scott Michael Rajeski sold 25,851 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $6.54, for a total transaction of $169,065.54. Following the completion of the sale, the chief executive officer now directly owns 490,829 shares in the company, valued at approximately $3,210,021.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Latham Group news, CEO Scott Michael Rajeski sold 25,851 shares of Latham Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $6.54, for a total value of $169,065.54. Following the completion of the sale, the chief executive officer now owns 490,829 shares of the company’s stock, valued at approximately $3,210,021.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Suraj Kunchala sold 10,139 shares of the business’s 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 of the company’s stock, valued at $196,064.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,932 shares of company stock valued at $441,364. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Latham Group

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Latham Group by 21.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,342,142 shares of the company’s stock valued at $4,067,000 after purchasing an additional 234,930 shares during the last quarter. Roubaix Capital LLC raised its stake in Latham Group by 104.1% during the 2nd quarter. Roubaix Capital LLC now owns 445,652 shares of the company’s stock valued at $1,350,000 after buying an additional 227,349 shares during the last quarter. American Century Companies Inc. lifted its holdings in Latham Group by 103.7% in the second quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock valued at $1,269,000 after acquiring an additional 213,128 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Latham Group by 11.2% in the 2nd quarter. Renaissance Technologies LLC now owns 690,856 shares of the company’s stock worth $2,093,000 after purchasing an additional 69,356 shares during the period. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Latham Group by 27.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 151,547 shares of the company’s stock worth $459,000 after acquiring an additional 32,410 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.