Latham Group (NASDAQ:SWIM) Shares Gap Down – Here’s What Happened

Latham Group, Inc. (NASDAQ:SWIM) gapped down prior to trading on Tuesday . The stock had previously closed at $5.76, but opened at $5.55. Latham Group shares last traded at $5.72, with a volume of 43,755 shares.

Analyst Ratings Changes

Several brokerages have weighed in on SWIM. Stifel Nicolaus increased their price target on shares of Latham Group from $6.80 to $7.00 and gave the company a “buy” rating in a research report on Monday, September 16th. The Goldman Sachs Group increased their target price on shares of Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Barclays boosted their price target on Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Robert W. Baird increased their price objective on Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Latham Group presently has a consensus rating of “Hold” and a consensus target price of $5.62.

Latham Group Price Performance

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 business’s 50 day moving average price is $6.45 and its two-hundred day moving average price is $4.93. The stock has a market cap of $678.69 million, a P/E ratio of 65.23 and a beta of 1.88.

Insider Buying and Selling at Latham Group

In other news, CEO Scott Michael Rajeski sold 25,851 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $6.54, for a total transaction of $169,065.54. Following the sale, the chief executive officer now owns 490,829 shares in the company, valued at approximately $3,210,021.66. The trade was a 5.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $65,791.04. Following the completion of the transaction, the chief financial officer now owns 282,706 shares of the company’s stock, valued at approximately $1,820,626.64. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,817 shares of company stock valued at $304,182. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Latham Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Diversified Trust Co purchased a new stake in shares of Latham Group in the second quarter worth $34,000. Public Employees Retirement System of Ohio boosted its stake in 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 worth $43,000 after purchasing an additional 4,484 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new stake in Latham Group during the 2nd quarter valued at about $49,000. FMR LLC raised its holdings in Latham Group by 75.9% in the third quarter. FMR LLC now owns 7,239 shares of the company’s stock worth $49,000 after buying an additional 3,123 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Latham Group in the third quarter worth approximately $53,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Latham Group Company Profile

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.