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

Latham Group, Inc. (NASDAQ:SWIM)’s stock price 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.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Robert W. Baird lifted their price objective on Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Barclays increased their price target on shares of Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Stifel Nicolaus raised their target price on shares of Latham Group from $6.80 to $7.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group raised their target price on Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.62.

Latham Group Trading Up 6.6 %

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 company has a market cap of $668.28 million, a price-to-earnings ratio of 66.12 and a beta of 1.88. The business has a 50 day simple moving average of $6.46 and a 200 day simple moving average of $4.82.

Insiders Place Their Bets

In related news, CFO Oliver C. Gloe sold 10,216 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $6.44, for a total transaction of $65,791.04. Following the completion of the transaction, the chief financial officer now directly owns 282,706 shares of the company’s stock, valued at approximately $1,820,626.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Latham Group news, CEO Scott Michael Rajeski sold 25,851 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $6.54, for a total value of $169,065.54. Following the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Oliver C. Gloe sold 10,216 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Insiders sold 69,067 shares of company stock worth $435,827 over the last ninety days. 8.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Latham Group

A number of hedge funds have recently added to or reduced their stakes in SWIM. Diversified Trust Co bought a new stake in Latham Group during the 2nd quarter valued at $34,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Latham Group by 69.2% during the first quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock worth $43,000 after purchasing an additional 4,484 shares during the period. Burns Matteson Capital Management LLC purchased a new stake in shares of Latham Group during the second quarter worth about $49,000. FMR LLC raised its stake in Latham Group by 75.9% in the third quarter. FMR LLC now owns 7,239 shares of the company’s stock worth $49,000 after buying an additional 3,123 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new position in Latham Group in the second quarter worth about $55,000. Institutional investors and hedge funds 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.