Latham Group (NASDAQ:SWIM) Shares Down 3.2% - Time to Sell?

Latham Group, Inc. (NASDAQ:SWIM - Get Free Report) fell 3.2% during mid-day trading on Monday . The stock traded as low as $7.01 and last traded at $7.06. 38,846 shares were traded during trading, a decline of 93% from the average session volume of 533,204 shares. The stock had previously closed at $7.29.

Wall Street Analyst Weigh In

A number of research analysts have commented on SWIM shares. Craig Hallum began coverage on Latham Group in a report on Monday, December 9th. They set a "buy" rating and a $10.00 target price on the stock. Robert W. Baird set a $8.50 price objective on shares of Latham Group in a report on Wednesday, March 5th. Finally, Stifel Nicolaus increased their target price on shares of Latham Group from $7.70 to $8.80 and gave the stock a "buy" rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $7.66.

Latham Group Price Performance

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 company has a 50-day simple moving average of $6.75 and a two-hundred day simple moving average of $6.65. The stock has a market capitalization of $720.13 million, a price-to-earnings ratio of 69.12 and a beta of 1.84.

Insiders Place Their Bets

In other news, major shareholder Wc Partners Executive Iv, L.P. sold 105,250 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $6.54, for a total value of $688,335.00. Following the completion of the transaction, the insider now owns 332,818 shares of the company's stock, valued at approximately $2,176,629.72. This represents a 24.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.60% of the stock is owned by insiders.

Remove Ads

Institutional Investors Weigh In On Latham Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pamplona Capital Management LLC acquired a new position in Latham Group during the 4th quarter valued at about $360,846,000. Wynnchurch Capital Partners IV L.P. acquired a new position in shares of Latham Group during the fourth quarter valued at approximately $104,287,000. Wasatch Advisors LP bought a new stake in Latham Group during the fourth quarter worth approximately $17,408,000. Driehaus Capital Management LLC acquired a new stake in Latham Group in the fourth quarter worth approximately $10,221,000. Finally, Voss Capital LP boosted its stake in Latham Group by 29.1% during the 4th 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 in the last quarter. 83.95% of the stock is currently owned by institutional investors.

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.