Latham Group, Inc. (NASDAQ:SWIM - Get Free Report) was down 4.6% during mid-day trading on Thursday . The company traded as low as $6.63 and last traded at $6.64. Approximately 167,328 shares traded hands during trading, a decline of 64% from the average daily volume of 467,921 shares. The stock had previously closed at $6.96.
Analyst Ratings Changes
Several research analysts have recently issued reports on SWIM shares. Stifel Nicolaus upped 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. Craig Hallum initiated coverage on Latham Group in a report on Monday, December 9th. They issued a "buy" rating and a $10.00 price target for the company. Robert W. Baird raised their price objective 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. Finally, The Goldman Sachs Group boosted their price objective on shares of Latham Group from $3.00 to $5.00 and gave the stock 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 given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $6.65.
View Our Latest Analysis on SWIM
Latham Group Price Performance
The company has a fifty day moving average price of $6.65 and a two-hundred day moving average price of $5.61. The firm has a market capitalization of $753.88 million, a price-to-earnings ratio of 72.45 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.
Insiders Place Their Bets
In related news, CFO Oliver C. Gloe sold 10,216 shares of Latham Group stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $6.44, for a total value of $65,791.04. Following the transaction, the chief financial officer now directly owns 282,706 shares in the company, valued at $1,820,626.64. This trade represents a 3.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott Michael Rajeski sold 22,191 shares of the company's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $8.34, for a total transaction of $185,072.94. Following the transaction, the chief executive officer now owns 480,829 shares of the company's stock, valued at approximately $4,010,113.86. The trade was a 4.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,157 shares of company stock valued at $320,189. Insiders own 8.60% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in Latham Group by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 177,134 shares of the company's stock valued at $537,000 after purchasing an additional 3,837 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Latham Group in the second quarter valued at approximately $55,000. Roubaix Capital LLC grew its holdings in Latham Group by 104.1% during the second quarter. Roubaix Capital LLC now owns 445,652 shares of the company's stock worth $1,350,000 after acquiring an additional 227,349 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Latham Group by 27.2% in the second quarter. Los Angeles Capital Management LLC now owns 151,547 shares of the company's stock valued at $459,000 after acquiring an additional 32,410 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Latham Group by 103.7% in the second quarter. American Century Companies Inc. now owns 418,708 shares of the company's stock valued at $1,269,000 after acquiring an additional 213,128 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.
Latham Group Company Profile
(
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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.
Further Reading
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