Latham Group, Inc. (NASDAQ:SWIM) Short Interest Update

Latham Group, Inc. (NASDAQ:SWIM) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 1,700,000 shares, a growth of 21.4% from the October 15th total of 1,400,000 shares. Approximately 4.6% of the company’s stock are short sold. Based on an average daily volume of 571,000 shares, the short-interest ratio is currently 3.0 days.

Latham Group Stock Performance

Latham Group stock traded down $0.13 during trading hours on Friday, hitting $5.72. The stock had a trading volume of 708,429 shares, compared to its average volume of 688,884. Latham Group has a fifty-two week low of $2.11 and a fifty-two week high of $7.33. The company has a market cap of $660.77 million, a PE ratio of 63.51 and a beta of 1.88. The company has a 50-day moving average of $6.46 and a two-hundred day moving average of $4.86. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67.

Insider Activity at Latham Group

In other news, CFO Oliver C. Gloe sold 10,216 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were 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 directly owns 282,706 shares in the company, valued at approximately $1,820,626.64. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Michael Rajeski sold 25,851 shares of the firm’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 completion of the transaction, the chief executive officer now owns 490,829 shares in the company, valued at $3,210,021.66. The trade was a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,817 shares of company stock valued at $304,182. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Roubaix Capital LLC increased its holdings in Latham Group by 70.9% in the 3rd quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock valued at $5,178,000 after buying an additional 315,889 shares during the period. Dimensional Fund Advisors LP increased its stake in Latham Group by 21.2% in the second 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 during the period. American Century Companies Inc. increased its stake in Latham Group by 103.7% in the second quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock valued at $1,269,000 after acquiring an additional 213,128 shares during the period. Principal Financial Group Inc. acquired a new position in Latham Group in the third quarter worth about $697,000. Finally, Thrivent Financial for Lutherans bought a new position in Latham Group during the third quarter worth about $635,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SWIM shares. Barclays lifted their price objective 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. The Goldman Sachs Group lifted their price target on Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Stifel Nicolaus increased their price objective on Latham Group from $6.80 to $7.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Robert W. Baird raised their price objective on shares of Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Latham Group has an average rating of “Hold” and a consensus price target of $5.62.

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.