Short Interest in Latham Group, Inc. (NASDAQ:SWIM) Rises By 19.7%

Latham Group, Inc. (NASDAQ:SWIM) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,400,000 shares, a growth of 19.7% from the September 30th total of 1,170,000 shares. Based on an average daily volume of 780,500 shares, the days-to-cover ratio is currently 1.8 days. Approximately 3.8% of the company’s shares are sold short.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SWIM shares. Barclays boosted their price target on shares of Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Robert W. Baird boosted their price target on shares of Latham Group from $5.00 to $5.50 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus boosted their price target on shares of Latham Group from $6.80 to $7.00 and gave the company a “buy” rating in a research note on Monday, September 16th.

Insider Buying and Selling at Latham Group

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SWIM. Roubaix Capital LLC lifted its position in shares of Latham Group by 70.9% during the 3rd quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock worth $5,178,000 after purchasing an additional 315,889 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Latham Group in the third quarter valued at $105,000. Cubist Systematic Strategies LLC raised its stake in Latham Group by 71.1% in the second quarter. Cubist Systematic Strategies LLC now owns 27,923 shares of the company’s stock valued at $85,000 after buying an additional 11,601 shares in the last quarter. ELCO Management Co. LLC lifted its holdings in Latham Group by 8.6% during the 2nd quarter. ELCO Management Co. LLC now owns 97,762 shares of the company’s stock worth $296,000 after buying an additional 7,762 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Latham Group by 11.2% during the 2nd quarter. Renaissance Technologies LLC now owns 690,856 shares of the company’s stock worth $2,093,000 after acquiring an additional 69,356 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Latham Group Price Performance

Shares of SWIM opened at $6.47 on Wednesday. Latham Group has a fifty-two week low of $2.09 and a fifty-two week high of $7.33. The firm’s 50 day moving average price is $6.46 and its 200 day moving average price is $4.60. The company has a market cap of $747.80 million, a P/E ratio of 71.89 and a beta of 1.88. The company has a quick ratio of 2.15, a current ratio of 3.22 and a debt-to-equity ratio of 0.68.

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

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.