Latham Group (NASDAQ:SWIM) Trading Up 3.8% – Time to Buy?

Latham Group, Inc. (NASDAQ:SWIM) shares shot up 3.8% during trading on Tuesday . The stock traded as high as $7.09 and last traded at $7.07. 152,554 shares were traded during trading, a decline of 67% from the average session volume of 466,385 shares. The stock had previously closed at $6.81.

Wall Street Analyst Weigh In

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

Latham Group Stock Performance

The company has a market capitalization of $817.47 million, a price-to-earnings ratio of 78.56 and a beta of 1.84. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.44 and a quick ratio of 1.60. The stock has a 50 day simple moving average of $6.64 and a two-hundred day simple moving average of $5.58.

Insider Transactions at Latham Group

In related news, CFO Oliver C. Gloe sold 10,216 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 282,706 shares in the company, valued at $1,820,626.64. This represents a 3.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Sanjeev Bahl sold 11,750 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $5.90, for a total transaction of $69,325.00. Following the transaction, the chief operating officer now owns 262,811 shares of the company’s stock, valued at approximately $1,550,584.90. The trade was a 4.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,157 shares of company stock valued at $320,189. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SWIM. FMR LLC boosted its position in Latham Group by 75.9% during the third quarter. FMR LLC now owns 7,239 shares of the company’s stock worth $49,000 after purchasing an additional 3,123 shares in the last quarter. Panagora Asset Management Inc. grew its position in Latham Group by 1.6% during the second quarter. Panagora Asset Management Inc. now owns 197,072 shares of the company’s stock valued at $597,000 after acquiring an additional 3,161 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Latham Group by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 177,134 shares of the company’s stock valued at $537,000 after acquiring an additional 3,837 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Latham Group by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 333,206 shares of the company’s stock worth $2,266,000 after purchasing an additional 7,502 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Latham Group in the third quarter valued at about $53,000. 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.