Latham Group (NASDAQ:SWIM) Sets New 1-Year High on Analyst Upgrade

Shares of Latham Group, Inc. (NASDAQ:SWIM) reached a new 52-week high during trading on Tuesday after Barclays raised their price target on the stock from $3.00 to $6.00. Barclays currently has an equal weight rating on the stock. Latham Group traded as high as $5.60 and last traded at $5.50, with a volume of 39917 shares. The stock had previously closed at $5.41.

Separately, Robert W. Baird raised their target price on shares of Latham Group from $5.00 to $5.50 and gave the company an “outperform” rating in a research report on Wednesday, August 7th.

Insider Buying and Selling at Latham Group

In other news, VP Suraj Kunchala sold 10,139 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $5.06, for a total transaction of $51,303.34. Following the sale, the vice president now directly owns 38,748 shares in the company, valued at $196,064.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Latham Group

Several large investors have recently modified their holdings of SWIM. Renaissance Technologies LLC grew its stake in shares of Latham Group by 11.2% in the second quarter. Renaissance Technologies LLC now owns 690,856 shares of the company’s stock worth $2,093,000 after purchasing an additional 69,356 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Latham Group by 21.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,342,142 shares of the company’s stock worth $4,067,000 after buying an additional 234,930 shares during the period. American Century Companies Inc. lifted its holdings in Latham Group by 103.7% during 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. Los Angeles Capital Management LLC grew its position in shares of Latham Group by 27.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 151,547 shares of the company’s stock valued at $459,000 after buying an additional 32,410 shares during the last quarter. Finally, Roubaix Capital LLC increased its stake in shares of Latham Group by 104.1% in the second quarter. Roubaix Capital LLC now owns 445,652 shares of the company’s stock valued at $1,350,000 after buying an additional 227,349 shares during the period. Institutional investors own 83.95% of the company’s stock.

Latham Group Stock Up 2.6 %

The stock has a 50-day moving average price of $3.45 and a 200-day moving average price of $3.31. 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 company has a market capitalization of $641.47 million, a P/E ratio of 180.33 and a beta of 1.76.

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.