Latham Group (NASDAQ:SWIM) Sees Strong Trading Volume – Here’s What Happened

Shares of Latham Group, Inc. (NASDAQ:SWIM) saw strong trading volume on Wednesday . 231,541 shares traded hands during trading, a decline of 45% from the previous session’s volume of 417,557 shares.The stock last traded at $6.71 and had previously closed at $6.77.

Analysts Set New Price Targets

SWIM has been the subject of several analyst reports. Stifel Nicolaus raised their price objective on shares of Latham Group from $6.80 to $7.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Robert W. Baird boosted their price objective on Latham Group from $5.00 to $5.50 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Barclays increased their target price on Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th.

Latham Group Stock Down 0.3 %

The stock has a market cap of $761.67 million, a PE ratio of 73.22 and a beta of 1.88. The business has a fifty day moving average of $6.43 and a 200-day moving average of $4.53. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.22 and a quick ratio of 2.15.

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

Insider Buying and Selling at Latham Group

In other news, CEO Scott Michael Rajeski sold 25,851 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $6.54, for a total value of $169,065.54. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Suraj Kunchala sold 10,139 shares of the business’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 completion of the transaction, the vice president now directly owns 38,748 shares of the company’s stock, valued at approximately $196,064.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott Michael Rajeski sold 25,851 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $6.54, for a total value of $169,065.54. Following the sale, the chief executive officer now directly owns 490,829 shares in the company, valued at approximately $3,210,021.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,932 shares of company stock valued at $441,364. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SWIM. Quadrature Capital Ltd purchased a new position in Latham Group in the fourth quarter worth $32,000. Diversified Trust Co acquired a new stake in Latham Group in the second quarter worth about $34,000. Public Employees Retirement System of Ohio grew its stake in shares of Latham Group by 69.2% during the first quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock worth $43,000 after acquiring an additional 4,484 shares during the last quarter. Burns Matteson Capital Management LLC acquired a new position in shares of Latham Group during the second quarter valued at about $49,000. Finally, Ritholtz Wealth Management acquired a new position in shares of Latham Group during the second quarter valued at about $55,000. Hedge funds and other institutional investors 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.