Latham Group (NASDAQ:SWIM) Shares Down 6% – Time to Sell?

Latham Group, Inc. (NASDAQ:SWIM) shares traded down 6% during mid-day trading on Friday . The company traded as low as $6.58 and last traded at $6.63. 89,156 shares were traded during mid-day trading, a decline of 80% from the average session volume of 456,058 shares. The stock had previously closed at $7.05.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Robert W. Baird increased their target price on Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Craig Hallum began coverage on shares of Latham Group in a research report on Monday, December 9th. They set a “buy” rating and a $10.00 target price on the stock. The Goldman Sachs Group upped their target price on shares of Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus lifted their price objective on shares of Latham Group from $7.70 to $8.80 and gave the company a “buy” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.65.

Latham Group Price Performance

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 company has a market cap of $772.92 million, a P/E ratio of 74.12 and a beta of 1.81. The firm has a 50 day moving average price of $6.97 and a two-hundred day moving average price of $6.28.

Insider Activity at Latham Group

In related news, COO Sanjeev Bahl sold 11,750 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 262,811 shares in the company, valued at approximately $1,550,584.90. The trade was a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Michael Rajeski sold 22,191 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $8.34, for a total value of $185,072.94. Following the transaction, the chief executive officer now directly owns 480,829 shares in the company, valued at approximately $4,010,113.86. This represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Latham Group

A number of hedge funds have recently made changes to their positions in SWIM. Principal Financial Group Inc. bought a new stake in shares of Latham Group in the 3rd quarter valued at about $697,000. Barclays PLC lifted its holdings in Latham Group by 294.8% in the third quarter. Barclays PLC now owns 54,720 shares of the company’s stock worth $372,000 after buying an additional 40,860 shares during the period. ABS Direct Equity Fund LLC boosted its position in Latham Group by 33.3% during the 4th quarter. ABS Direct Equity Fund LLC now owns 200,000 shares of the company’s stock valued at $1,392,000 after acquiring an additional 50,000 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in Latham Group during the 3rd quarter valued at approximately $635,000. Finally, Geode Capital Management LLC boosted its position in Latham Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 971,731 shares of the company’s stock valued at $6,609,000 after acquiring an additional 20,209 shares in the last quarter. 83.95% of the stock is currently 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.