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

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays boosted their price target on Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Stifel Nicolaus boosted their target price on Latham Group from $7.00 to $7.70 and gave the stock a “buy” rating in a report on Monday, November 25th. The Goldman Sachs Group upped their price objective on Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Robert W. Baird upped 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. Finally, Craig Hallum assumed coverage on Latham Group in a research report on Monday. They set a “buy” rating and a $10.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.47.

Latham Group Trading Up 10.4 %

The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $906.50 million, a P/E ratio of 87.00 and a beta of 1.84. The firm has a 50-day moving average of $6.50 and a two-hundred day moving average of $5.21.

Insiders Place Their Bets

In other news, CFO Oliver C. Gloe sold 10,216 shares of the 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 owns 282,706 shares of the company’s stock, valued at approximately $1,820,626.64. This represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Sanjeev Bahl sold 11,750 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $5.90, for a total value of $69,325.00. Following the sale, the chief operating officer now directly owns 262,811 shares of the company’s stock, valued at $1,550,584.90. This represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Latham Group

Several large investors have recently added to or reduced their stakes in SWIM. Diversified Trust Co bought a new position in Latham Group in the second quarter worth approximately $34,000. FMR LLC lifted its holdings in shares of Latham Group by 75.9% in the third quarter. FMR LLC now owns 7,239 shares of the company’s stock valued at $49,000 after purchasing an additional 3,123 shares in the last quarter. Quarry LP bought a new stake in Latham Group during the third quarter worth $53,000. Ritholtz Wealth Management bought a new stake in Latham Group during the second quarter worth $55,000. Finally, Quadrature Capital Ltd bought a new stake in Latham Group during the third quarter worth $72,000. 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.