Latham Group (NASDAQ:SWIM) Reaches New 52-Week High – Here’s Why

Latham Group, Inc. (NASDAQ:SWIM)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $7.15 and last traded at $7.10, with a volume of 333180 shares traded. The stock had previously closed at $7.01.

Wall Street Analyst Weigh In

SWIM has been the subject of several recent research reports. Stifel Nicolaus upped their target price on Latham Group from $6.80 to $7.00 and gave the company a “buy” rating in a report on Monday, September 16th. Robert W. Baird increased their price objective on shares of Latham Group from $5.00 to $5.50 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. 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 research report on Monday, August 12th.

Latham Group Stock Up 1.0 %

The business has a 50-day simple moving average of $6.30 and a 200-day simple moving average of $4.42. The company has a quick ratio of 2.15, a current ratio of 3.22 and a debt-to-equity ratio of 0.68. The company has a market cap of $828.71 million, a PE ratio of 79.67 and a beta of 1.88.

Latham Group (NASDAQ:SWIM) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.12. The firm had revenue of $160.12 million during the quarter, compared to the consensus estimate of $156.00 million. Latham Group had a return on equity of 2.93% and a net margin of 2.24%. Equities research analysts anticipate that Latham Group, Inc. will post -0.02 EPS for the current year.

Insider Buying and Selling

In other news, VP Suraj Kunchala sold 10,139 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $5.06, for a total value of $51,303.34. Following the completion of the sale, the vice president now owns 38,748 shares of the company’s stock, valued at approximately $196,064.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Latham Group news, VP Suraj Kunchala sold 10,139 shares of Latham Group stock in a transaction that occurred 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 of the company’s stock, valued at $196,064.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Michael Rajeski sold 25,851 shares of Latham Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $6.54, for a total value of $169,065.54. Following the completion of the transaction, the chief executive officer now directly owns 490,829 shares of the company’s stock, valued at approximately $3,210,021.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,932 shares of company stock worth $441,364 over the last ninety days. Company insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Latham Group during the third quarter valued at $105,000. Cubist Systematic Strategies LLC increased its position in shares of Latham Group by 71.1% in the second quarter. Cubist Systematic Strategies LLC now owns 27,923 shares of the company’s stock worth $85,000 after acquiring an additional 11,601 shares in the last quarter. ELCO Management Co. LLC grew its position in Latham Group by 8.6% in the second quarter. ELCO Management Co. LLC now owns 97,762 shares of the company’s stock worth $296,000 after acquiring an additional 7,762 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Latham Group by 11.2% in the 2nd quarter. Renaissance Technologies LLC now owns 690,856 shares of the company’s stock valued at $2,093,000 after buying an additional 69,356 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Latham Group by 21.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,342,142 shares of the company’s stock valued at $4,067,000 after acquiring an additional 234,930 shares in the last quarter. 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.