Latham Group (NASDAQ:SWIM) Shares Gap Up – Still a Buy?

Latham Group, Inc. (NASDAQ:SWIM) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.42, but opened at $5.72. Latham Group shares last traded at $5.76, with a volume of 112,932 shares changing hands.

Analysts Set New Price Targets

SWIM has been the topic of several research analyst reports. Barclays raised their price objective on Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Stifel Nicolaus lifted their price target on Latham Group from $6.80 to $7.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. The Goldman Sachs Group lifted their price objective on Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird lifted their price objective on Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.62.

Latham Group Stock Up 6.6 %

The firm has a fifty day moving average price of $6.46 and a 200-day moving average price of $4.82. 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 firm has a market cap of $668.28 million, a price-to-earnings ratio of 66.12 and a beta of 1.88.

Insiders Place Their Bets

In other news, CEO Scott Michael Rajeski sold 25,851 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $6.54, for a total value of $169,065.54. Following the completion of the transaction, the chief executive officer now owns 490,829 shares in the company, valued at $3,210,021.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Oliver C. Gloe sold 10,216 shares of the firm’s 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 sale, the chief financial officer now directly owns 282,706 shares in the company, valued at approximately $1,820,626.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott Michael Rajeski sold 25,851 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $6.54, for a total transaction of $169,065.54. Following the completion of the transaction, the chief executive officer now owns 490,829 shares of the company’s stock, valued at approximately $3,210,021.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,067 shares of company stock valued at $435,827 in the last quarter. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Latham Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Latham Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock valued at $8,234,000 after acquiring an additional 17,259 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Latham Group by 21.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,342,142 shares of the company’s stock valued at $4,067,000 after acquiring an additional 234,930 shares in the last quarter. Roubaix Capital LLC increased its holdings in shares of Latham Group by 70.9% during the third quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock valued at $5,178,000 after acquiring an additional 315,889 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Latham Group by 11.2% during the second quarter. Renaissance Technologies LLC now owns 690,856 shares of the company’s stock valued at $2,093,000 after acquiring an additional 69,356 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Latham Group by 103.7% during the second quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock valued at $1,269,000 after buying an additional 213,128 shares during 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.