Latham Group, Inc. (NASDAQ:SWIM) Short Interest Update

Latham Group, Inc. (NASDAQ:SWIM - Get Free Report) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 3,030,000 shares, an increase of 28.4% from the November 30th total of 2,360,000 shares. Based on an average daily volume of 637,700 shares, the short-interest ratio is presently 4.8 days. Currently, 7.9% of the company's shares are sold short.

Insider Transactions at Latham Group

In other news, CEO Scott Michael Rajeski sold 22,191 shares of the firm's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $8.34, for a total transaction of $185,072.94. Following the completion of the transaction, the chief executive officer now owns 480,829 shares of the company's stock, valued at approximately $4,010,113.86. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $65,791.04. Following the transaction, the chief financial officer now owns 282,706 shares in the company, valued at approximately $1,820,626.64. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,157 shares of company stock worth $320,189. Insiders own 8.60% of the company's stock.

Institutional Trading of Latham Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in Latham Group by 21.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,342,142 shares of the company's stock worth $4,067,000 after acquiring an additional 234,930 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Latham Group by 2.1% during the third quarter. Geode Capital Management LLC now owns 971,731 shares of the company's stock worth $6,609,000 after purchasing an additional 20,209 shares during the period. State Street Corp lifted its holdings in shares of Latham Group by 5.4% in the 3rd quarter. State Street Corp now owns 789,974 shares of the company's stock worth $5,372,000 after purchasing an additional 40,764 shares in the last quarter. Roubaix Capital LLC grew its position in Latham Group by 70.9% in the 3rd quarter. Roubaix Capital LLC now owns 761,541 shares of the company's stock valued at $5,178,000 after purchasing an additional 315,889 shares during the period. Finally, Renaissance Technologies LLC grew its position in Latham Group by 11.2% in the 2nd quarter. Renaissance Technologies LLC now owns 690,856 shares of the company's stock valued at $2,093,000 after purchasing an additional 69,356 shares during the period. 83.95% of the stock is owned by institutional investors.

Latham Group Stock Down 4.6 %

SWIM traded down $0.34 during midday trading on Friday, hitting $7.00. The company had a trading volume of 417,683 shares, compared to its average volume of 468,136. The stock's 50 day moving average price is $6.64 and its 200 day moving average price is $5.56. Latham Group has a 52 week low of $2.11 and a 52 week high of $8.41. The company has a market capitalization of $809.38 million, a price-to-earnings ratio of 77.79 and a beta of 1.84. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus raised their price objective 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 target on shares of Latham Group from $3.00 to $5.00 and gave the company a "sell" rating in a research report on Wednesday, November 6th. Craig Hallum began coverage on Latham Group in a research report on Monday, December 9th. They issued a "buy" rating and a $10.00 price objective for the company. Finally, Robert W. Baird upped their target price on 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 given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $6.65.

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.