Latham Group (NASDAQ:SWIM) Trading Down 6.3% – What’s Next?

Latham Group, Inc. (NASDAQ:SWIM)’s share price dropped 6.3% during mid-day trading on Tuesday . The stock traded as low as $6.49 and last traded at $6.50. Approximately 189,836 shares traded hands during trading, a decline of 58% from the average daily volume of 447,445 shares. The stock had previously closed at $6.94.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stifel Nicolaus upped their price objective on shares of Latham Group from $7.00 to $7.70 and gave the company a “buy” rating in a report on Monday. The Goldman Sachs Group increased their price objective 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. Barclays boosted their target price 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. Finally, Robert W. Baird increased their price target 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. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.76.

Latham Group Stock Down 5.2 %

The company has a market capitalization of $760.78 million, a P/E ratio of 77.12 and a beta of 1.88. 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’s fifty day moving average is $6.48 and its 200-day moving average is $5.01.

Insider Activity

In other Latham Group news, CFO Oliver C. Gloe sold 10,216 shares of the business’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 transaction of $65,791.04. Following the sale, the chief financial officer now directly owns 282,706 shares of the company’s stock, valued at $1,820,626.64. The trade was a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Sanjeev Bahl sold 11,750 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $5.90, for a total transaction of $69,325.00. Following the transaction, the chief operating officer now directly owns 262,811 shares of the company’s stock, valued at $1,550,584.90. The trade was a 4.28 % decrease in their position. The disclosure for this sale can be found here. 7.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Diversified Trust Co bought a new position in shares of Latham Group during the 2nd quarter worth approximately $34,000. Public Employees Retirement System of Ohio lifted its position in shares of Latham Group by 69.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock worth $43,000 after buying an additional 4,484 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new position in shares of Latham Group in the 2nd quarter worth approximately $49,000. FMR LLC boosted its stake in shares of 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 buying an additional 3,123 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Latham Group during the third quarter valued at approximately $53,000. Institutional investors 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.