Latham Group (NASDAQ:SWIM) Shares Gap Down – Here’s Why

Latham Group, Inc. (NASDAQ:SWIM)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $5.76, but opened at $5.55. Latham Group shares last traded at $5.72, with a volume of 43,755 shares.

Analysts Set New Price Targets

SWIM has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Barclays increased their price target on shares of Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Robert W. Baird boosted their price objective on shares of Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Stifel Nicolaus increased their target price on shares of Latham Group from $6.80 to $7.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.62.

Latham Group Price Performance

The company has a 50-day moving average of $6.46 and a 200-day moving average of $4.90. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.60 and a current ratio of 2.44. The firm has a market capitalization of $657.88 million, a price-to-earnings ratio of 64.01 and a beta of 1.88.

Insider Activity

In other news, COO Sanjeev Bahl sold 11,750 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $5.90, for a total transaction of $69,325.00. Following the completion of the transaction, the chief operating officer now directly owns 262,811 shares of the company’s stock, valued at $1,550,584.90. This represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Oliver C. Gloe sold 10,216 shares of Latham Group stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 282,706 shares in the company, valued at approximately $1,820,626.64. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,817 shares of company stock worth $304,182 over the last quarter. 7.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Diversified Trust Co bought a new stake in Latham Group during the 2nd quarter worth about $34,000. Public Employees Retirement System of Ohio grew its stake in Latham Group by 69.2% in the first quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock valued at $43,000 after purchasing an additional 4,484 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new stake in shares of Latham Group in the 2nd quarter valued at approximately $49,000. FMR LLC grew its stake in shares of Latham Group by 75.9% in the third quarter. FMR LLC now owns 7,239 shares of the company’s stock valued at $49,000 after buying an additional 3,123 shares in the last quarter. Finally, Quarry LP acquired a new position in Latham Group during the third quarter worth $53,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

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.