Latham Group, Inc. (NASDAQ:SWIM) Sees Significant Increase in Short Interest

Latham Group, Inc. (NASDAQ:SWIM - Get Free Report) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,700,000 shares, an increase of 21.4% from the October 15th total of 1,400,000 shares. Approximately 4.6% of the shares of the company are short sold. Based on an average daily volume of 571,000 shares, the days-to-cover ratio is presently 3.0 days.

Wall Street Analysts Forecast Growth

SWIM has been the topic of several recent analyst reports. Barclays lifted their price target on shares of Latham Group from $3.00 to $6.00 and gave the company an "equal weight" rating in a report on Monday, August 12th. Robert W. Baird raised their target price on shares of Latham Group from $5.50 to $7.50 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on Latham Group from $3.00 to $5.00 and gave the company a "sell" rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus lifted their price target on Latham Group from $6.80 to $7.00 and gave the company a "buy" rating in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Latham Group currently has a consensus rating of "Hold" and a consensus target price of $5.62.

Insider Activity

In other Latham Group news, CEO Scott Michael Rajeski sold 25,851 shares of the firm's 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 directly owns 490,829 shares of the company's stock, valued at $3,210,021.66. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Oliver C. Gloe sold 10,216 shares of the 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 47,817 shares of company stock valued at $304,182 in the last ninety days. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Latham Group

Several hedge funds and other institutional investors have recently modified their holdings of SWIM. FMR LLC boosted its holdings in Latham Group by 75.9% in the 3rd quarter. FMR LLC now owns 7,239 shares of the company's stock worth $49,000 after acquiring an additional 3,123 shares during the period. Panagora Asset Management Inc. increased its stake in shares of Latham Group by 1.6% in the second quarter. Panagora Asset Management Inc. now owns 197,072 shares of the company's stock worth $597,000 after buying an additional 3,161 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Latham Group by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 177,134 shares of the company's stock worth $537,000 after acquiring an additional 3,837 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake 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 worth $43,000 after purchasing an additional 4,484 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Latham Group by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 333,206 shares of the company's stock worth $2,266,000 after buying an additional 7,502 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Latham Group Price Performance

Shares of SWIM stock traded down $0.13 during midday trading on Friday, reaching $5.72. 708,366 shares of the company traded hands, compared to its average volume of 442,003. The firm's 50 day simple moving average is $6.46 and its two-hundred day simple moving average is $4.85. The firm has a market cap of $660.80 million, a PE ratio of 63.50 and a beta of 1.88. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.44 and a quick ratio of 1.60. Latham Group has a 1-year low of $2.11 and a 1-year high of $7.33.

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.

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