Latham Group (NASDAQ:SWIM) Stock Price Up 3.3%

Shares of Latham Group, Inc. (NASDAQ:SWIM) were up 3.3% on Tuesday . The company traded as high as $6.02 and last traded at $5.97. Approximately 112,017 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 398,740 shares. The stock had previously closed at $5.78.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SWIM shares. Barclays increased their target price on Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Robert W. Baird increased their target price on Latham Group from $5.00 to $5.50 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Stifel Nicolaus increased their target price on Latham Group from $4.75 to $6.80 and gave the company a “buy” rating in a report on Friday, August 30th.

Latham Group Price Performance

The company has a debt-to-equity ratio of 0.68, a current ratio of 3.22 and a quick ratio of 2.15. The firm has a 50-day moving average of $4.55 and a 200-day moving average of $3.82. The stock has a market cap of $713.13 million, a PE ratio of 203.00 and a beta of 1.86.

Latham Group (NASDAQ:SWIM) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.12. The business had revenue of $160.12 million during the quarter, compared to analysts’ expectations of $156.00 million. Latham Group had a return on equity of 2.93% and a net margin of 2.24%. Research analysts predict that Latham Group, Inc. will post -0.03 EPS for the current year.

Insider Transactions at Latham Group

In related news, VP Suraj Kunchala sold 10,139 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $5.06, for a total transaction of $51,303.34. Following the completion of the sale, the vice president now directly owns 38,748 shares of the company’s stock, valued at approximately $196,064.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Scott Michael Rajeski sold 25,851 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $6.54, for a total transaction of $169,065.54. Following the transaction, the chief executive officer now directly owns 490,829 shares of the company’s stock, valued at $3,210,021.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Suraj Kunchala sold 10,139 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $5.06, for a total value of $51,303.34. Following the transaction, the vice president now directly owns 38,748 shares in the company, valued at $196,064.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,932 shares of company stock worth $441,364. 8.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Latham Group

Large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its position in shares of Latham Group by 69.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock valued at $43,000 after acquiring an additional 4,484 shares during the period. Diversified Trust Co acquired a new stake in Latham Group during the 2nd quarter worth about $34,000. Quadrature Capital Ltd acquired a new stake in Latham Group during the 4th quarter worth about $32,000. Burns Matteson Capital Management LLC acquired a new stake in Latham Group during the 2nd quarter worth about $49,000. Finally, Oxford Asset Management LLP acquired a new stake in Latham Group during the 4th quarter worth about $46,000. 83.95% of the stock is owned by institutional investors and hedge funds.

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.