Latham Group (NASDAQ:SWIM) Shares Down 3.2% – What’s Next?

Shares of Latham Group, Inc. (NASDAQ:SWIM) were down 3.2% during trading on Monday . The company traded as low as $7.01 and last traded at $7.06. Approximately 38,846 shares traded hands during trading, a decline of 93% from the average daily volume of 533,204 shares. The stock had previously closed at $7.29.

Analysts Set New Price Targets

SWIM has been the topic of several analyst reports. Stifel Nicolaus upped their price target on shares of Latham Group from $7.70 to $8.80 and gave the company a “buy” rating in a report on Wednesday, December 11th. Craig Hallum initiated coverage on Latham Group in a research note on Monday, December 9th. They set a “buy” rating and a $10.00 target price on the stock. Finally, Robert W. Baird set a $8.50 price target on Latham Group in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.66.

Latham Group Price Performance

The firm has a market capitalization of $792.73 million, a P/E ratio of 76.01 and a beta of 1.84. The stock’s 50 day simple moving average is $6.75 and its 200 day simple moving average is $6.64. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.60 and a current ratio of 2.44.

Hedge Funds Weigh In On Latham Group

Several institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new position in Latham Group during the 3rd quarter valued at about $697,000. Empowered Funds LLC increased its holdings in Latham Group by 22.8% during the third quarter. Empowered Funds LLC now owns 358,927 shares of the company’s stock valued at $2,441,000 after buying an additional 66,647 shares during the period. Natixis Advisors LLC purchased a new stake in Latham Group during the third quarter worth $350,000. Thrivent Financial for Lutherans bought a new stake in Latham Group during the 3rd quarter valued at $635,000. Finally, Intech Investment Management LLC purchased a new position in shares of Latham Group in the 3rd quarter valued at $92,000. 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.