Latham Group (NASDAQ:SWIM) Stock Price Down 6.3% – Should You Sell?

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SWIM. Stifel Nicolaus increased their price objective on Latham Group from $7.00 to $7.70 and gave the stock a “buy” rating in a research report on Monday. 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 report on Wednesday, November 6th. The Goldman Sachs Group raised their price target on Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Finally, Barclays upped their price objective on Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Latham Group presently has an average rating of “Hold” and an average price target of $5.76.

Latham Group Price Performance

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

Insiders Place Their Bets

In other news, COO Sanjeev Bahl sold 11,750 shares of Latham Group stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $5.90, for a total transaction of $69,325.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Oliver C. Gloe sold 10,216 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $6.44, for a total transaction of $65,791.04. Following the transaction, 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 disclosure for this sale can be found here. Insiders own 7.60% of the company’s stock.

Institutional Trading of Latham Group

Several large investors have recently bought and sold shares of SWIM. Roubaix Capital LLC lifted its stake in shares of Latham Group by 70.9% in the 3rd quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock valued at $5,178,000 after purchasing an additional 315,889 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Latham Group by 69.2% in 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 in the last quarter. Vanguard Group Inc. lifted its position in 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 buying an additional 17,259 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Latham Group during the 3rd quarter valued at $697,000. Finally, American Century Companies Inc. grew its position in shares of Latham Group by 103.7% in the 2nd quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock worth $1,269,000 after buying an additional 213,128 shares during the period. 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.