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

Latham Group, Inc. (NASDAQ:SWIM) 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 trading hands.

Analyst Upgrades and Downgrades

SWIM has been the topic of several recent research reports. Craig Hallum assumed coverage on Latham Group in a research report on Monday, December 9th. They set a “buy” rating and a $10.00 target price on the stock. Stifel Nicolaus raised their price objective 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. Two research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.65.

Latham Group Stock Performance

The business has a fifty day simple moving average of $6.71 and a two-hundred day simple moving average of $6.59. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67. The company has a market cap of $870.66 million, a P/E ratio of 83.68 and a beta of 1.84.

Insider Transactions at Latham Group

In related news, CEO Scott Michael Rajeski sold 22,191 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 480,829 shares in the company, valued at approximately $4,010,113.86. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Latham Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in Latham Group during the fourth quarter valued at about $33,000. BNP Paribas Financial Markets purchased a new position in Latham Group in the 4th quarter worth approximately $42,000. FMR LLC boosted its stake in Latham Group by 75.9% in the 3rd 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 period. Quarry LP purchased a new stake in Latham Group during the 3rd quarter valued at approximately $53,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Latham Group in the third quarter worth $72,000. 83.95% of the stock is owned by hedge funds and other 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.