Latham Group (NASDAQ:SWIM) Shares Gap Down Following Insider Selling

Shares of Latham Group, Inc. (NASDAQ:SWIM - Get Free Report) gapped down prior to trading on Friday following insider selling activity. The stock had previously closed at $7.72, but opened at $7.54. Latham Group shares last traded at $7.71, with a volume of 27,263 shares changing hands.

Specifically, CEO Scott Michael Rajeski sold 22,191 shares of the business'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 directly owns 480,829 shares in the company, valued at $4,010,113.86. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SWIM. Stifel Nicolaus raised their price objective on shares of Latham Group from $7.70 to $8.80 and gave the company a "buy" rating in a research report on Wednesday. Craig Hallum began coverage on Latham Group in a research report on Monday, December 9th. They set a "buy" rating and a $10.00 price target on the stock. Robert W. Baird lifted their price target on Latham Group from $5.50 to $7.50 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their price objective on Latham Group from $3.00 to $5.00 and gave the company a "sell" 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $6.65.

Latham Group Stock Performance

The company has a market cap of $870.66 million, a P/E ratio of 83.67 and a beta of 1.84. The business has a 50 day moving average price of $6.59 and a two-hundred day moving average price of $5.30. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.60 and a current ratio of 2.44.

Institutional Trading of Latham Group

Several hedge funds and other institutional investors have recently bought and sold shares of SWIM. Diversified Trust Co purchased a new stake in shares of Latham Group during the second quarter worth about $34,000. FMR LLC raised its position in Latham Group by 75.9% during the 3rd quarter. FMR LLC now owns 7,239 shares of the company's stock valued at $49,000 after purchasing an additional 3,123 shares during the last quarter. Quarry LP purchased a new stake in Latham Group in the 3rd quarter worth approximately $53,000. Ritholtz Wealth Management bought a new stake in shares of Latham Group in the 2nd quarter worth approximately $55,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Latham Group during the third quarter valued at approximately $72,000. 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.