Latham Group (NASDAQ:SWIM) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Latham Group, Inc. (NASDAQ:SWIM) saw unusually-high trading volume on Friday . Approximately 625,292 shares traded hands during mid-day trading, an increase of 15% from the previous session’s volume of 543,161 shares.The stock last traded at $6.61 and had previously closed at $6.99.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SWIM shares. Robert W. Baird set a $8.50 target price on Latham Group in a research note on Wednesday, March 5th. Stifel Nicolaus upped their price objective on shares of Latham Group from $7.70 to $8.80 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Craig Hallum started coverage on shares of Latham Group in a research note on Monday, December 9th. They set a “buy” rating and a $10.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Latham Group has a consensus rating of “Hold” and a consensus target price of $7.66.

Latham Group Trading Down 6.2 %

The stock’s fifty day moving average price is $6.78 and its 200 day moving average price is $6.68. The stock has a market cap of $759.03 million, a P/E ratio of 72.90 and a beta of 1.84. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67.

Insiders Place Their Bets

In other news, major shareholder Wc Partners Executive Iv, L.P. sold 105,250 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $6.54, for a total value of $688,335.00. Following the transaction, the insider now owns 332,818 shares in the company, valued at approximately $2,176,629.72. This represents a 24.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Latham Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SWIM. Pamplona Capital Management LLC purchased a new position in shares of Latham Group in the fourth quarter worth $360,846,000. Wynnchurch Capital Partners IV L.P. purchased a new position in Latham Group in the 4th quarter worth about $104,287,000. Voss Capital LP lifted its stake in Latham Group by 29.1% during the 4th quarter. Voss Capital LP now owns 5,164,178 shares of the company’s stock valued at $35,943,000 after acquiring an additional 1,163,329 shares during the period. Wasatch Advisors LP purchased a new position in shares of Latham Group during the fourth quarter valued at approximately $17,408,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Latham Group by 28.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,094,992 shares of the company’s stock valued at $14,580,000 after purchasing an additional 458,604 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

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.