Latham Group (NASDAQ:SWIM) Shares Gap Down – Time to Sell?

Latham Group, Inc. (NASDAQ:SWIM) shares gapped down before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

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

Latham Group Trading Down 1.2 %

The company has a 50 day moving average of $6.46 and a 200 day moving average of $4.90. The firm has a market cap of $657.88 million, a price-to-earnings ratio of 64.01 and a beta of 1.88. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67.

Insider Activity

In related news, CFO Oliver C. Gloe sold 10,216 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now directly owns 282,706 shares of the company’s stock, valued at $1,820,626.64. This trade represents a 3.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott Michael Rajeski sold 25,851 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $3,210,021.66. This represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,817 shares of company stock worth $304,182. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake in shares of 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 acquiring an additional 3,123 shares during the last quarter. Quarry LP bought a new position in Latham Group in the 3rd quarter worth approximately $53,000. Quadrature Capital Ltd acquired a new position in Latham Group during the 3rd quarter worth $72,000. Public Employees Retirement System of Ohio boosted its position 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 valued at $43,000 after buying an additional 4,484 shares during the last quarter. Finally, Diversified Trust Co acquired a new stake in shares of Latham Group in the 2nd quarter valued at $34,000. 83.95% of the stock is owned by institutional investors.

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.