Latham Group (NASDAQ:SWIM) Trading 3.8% Higher - Should You Buy?

Latham Group, Inc. (NASDAQ:SWIM - Get Free Report) shares shot up 3.8% during trading on Tuesday . The company traded as high as $7.09 and last traded at $7.07. 152,554 shares traded hands during trading, a decline of 67% from the average session volume of 466,385 shares. The stock had previously closed at $6.81.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SWIM shares. Robert W. Baird upped their price objective on shares of Latham Group from $5.50 to $7.50 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Stifel Nicolaus raised their price target on 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 began coverage on Latham Group in a report on Monday, December 9th. They set a "buy" rating and a $10.00 price objective on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of Latham Group from $3.00 to $5.00 and gave the stock a "sell" rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Latham Group has an average rating of "Hold" and an average target price of $6.65.

Latham Group Stock Performance

The stock has a market capitalization of $804.75 million, a PE ratio of 77.34 and a beta of 1.84. The business has a 50 day moving average price of $6.64 and a 200 day moving average price of $5.58. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.44 and a quick ratio of 1.60.

Insider Activity at Latham Group

In other Latham Group news, COO Sanjeev Bahl sold 11,750 shares of Latham Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $5.90, for a total value of $69,325.00. Following the completion of the sale, the chief operating officer now owns 262,811 shares of the company's stock, valued at approximately $1,550,584.90. The trade was a 4.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Oliver C. Gloe sold 10,216 shares of the firm's 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 completion of the transaction, the chief financial officer now owns 282,706 shares in the company, valued at approximately $1,820,626.64. This trade represents a 3.49 % decrease in their ownership of the stock. 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. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Latham Group

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC grew its stake in shares of 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 acquiring an additional 3,123 shares during the period. Quarry LP purchased a new stake in shares of Latham Group during the third quarter worth about $53,000. Quadrature Capital Ltd bought a new position in Latham Group in the 3rd quarter worth approximately $72,000. Voya Financial Advisors Inc. bought a new stake in shares of Latham Group during the third quarter valued at approximately $89,000. Finally, Intech Investment Management LLC bought a new position in shares of Latham Group during the third quarter worth $92,000. 83.95% of the stock is 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.