Latham Group (NASDAQ:SWIM) Sets New 1-Year High – What’s Next?

Latham Group, Inc. (NASDAQ:SWIM) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.37 and last traded at $7.31, with a volume of 477001 shares. The stock had previously closed at $7.10.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on Latham Group from $7.00 to $7.70 and gave the company a “buy” rating in a report on Monday, November 25th. Robert W. Baird upped their target price on Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a report on Wednesday, November 6th. The Goldman Sachs Group increased their price objective on Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Barclays increased 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. Finally, Craig Hallum assumed coverage on Latham Group in a report on Monday. They issued a “buy” rating and a $10.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Latham Group presently has an average rating of “Hold” and an average price target of $6.47.

Latham Group Stock Performance

The company has a market capitalization of $906.50 million, a P/E ratio of 87.00 and a beta of 1.84. The stock has a fifty day simple moving average of $6.50 and a 200-day simple moving average of $5.21. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67.

Insider Activity

In related news, CFO Oliver C. Gloe sold 10,216 shares of Latham Group stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $6.44, for a total value of $65,791.04. Following the completion of the sale, the chief financial officer now directly owns 282,706 shares in the company, valued at $1,820,626.64. This trade represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Sanjeev Bahl sold 11,750 shares of Latham Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $5.90, for a total value of $69,325.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 7.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Latham Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SWIM. Diversified Trust Co bought a new position in shares of Latham Group during the 2nd quarter valued at about $34,000. FMR LLC lifted its stake in Latham Group by 75.9% in the 3rd quarter. FMR LLC now owns 7,239 shares of the company’s stock valued at $49,000 after acquiring an additional 3,123 shares in the last quarter. Quarry LP bought a new stake in Latham Group in the 3rd quarter valued at approximately $53,000. Ritholtz Wealth Management bought a new stake in Latham Group in the 2nd quarter valued at approximately $55,000. Finally, Quadrature Capital Ltd bought a new stake in Latham Group in the 3rd quarter valued at approximately $72,000. 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.