Latham Group (NASDAQ:SWIM) Shares Gap Up - Here's What Happened

Shares of Latham Group, Inc. (NASDAQ:SWIM - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $5.46, but opened at $5.82. Latham Group shares last traded at $7.17, with a volume of 328,110 shares changing hands.

Analysts Set New Price Targets

SWIM has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of Latham Group from $7.70 to $8.80 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Craig Hallum initiated coverage on shares of Latham Group in a research report on Monday, December 9th. They set a "buy" rating and a $10.00 price target for the company. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Latham Group presently has a consensus rating of "Hold" and an average price target of $6.65.

Latham Group Price Performance

The firm's 50-day moving average is $6.72 and its 200-day moving average is $6.61. The company has a market capitalization of $847.53 million, a PE ratio of 81.45 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.

Insider Buying and Selling

In other Latham Group news, 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 value of $185,072.94. Following the completion of the sale, the chief executive officer now directly owns 480,829 shares of the company's stock, valued at $4,010,113.86. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.60% of the stock is owned by company insiders.

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Institutional Trading of Latham Group

Several hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its stake in Latham Group by 12.0% in the fourth quarter. LPL Financial LLC now owns 15,954 shares of the company's stock worth $111,000 after purchasing an additional 1,713 shares during the last quarter. Olympiad Research LP lifted its stake in Latham Group by 8.0% in the fourth quarter. Olympiad Research LP now owns 25,418 shares of the company's stock worth $177,000 after purchasing an additional 1,889 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Latham Group by 15.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,856 shares of the company's stock worth $111,000 after purchasing an additional 2,168 shares during the last quarter. Rhumbline Advisers lifted its stake in Latham Group by 4.8% in the fourth quarter. Rhumbline Advisers now owns 64,502 shares of the company's stock worth $449,000 after purchasing an additional 2,942 shares during the last quarter. Finally, FMR LLC lifted its stake in Latham Group by 75.9% in the third quarter. FMR LLC now owns 7,239 shares of the company's stock worth $49,000 after purchasing an additional 3,123 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

About Latham Group

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.