Latham Group (NASDAQ:SWIM) Stock Price Up 4.2% Following Analyst Upgrade

Latham Group, Inc. (NASDAQ:SWIM) rose 4.2% during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $6.80 to $7.00. Stifel Nicolaus currently has a buy rating on the stock. Latham Group traded as high as $6.62 and last traded at $6.51. Approximately 95,921 shares traded hands during trading, a decline of 76% from the average daily volume of 399,001 shares. The stock had previously closed at $6.25.

Several other equities research analysts have also commented on SWIM. Robert W. Baird boosted their price objective on shares of Latham Group from $5.00 to $5.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Barclays boosted their price objective on shares of Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th.

Insider Buying and Selling

In related news, CEO Scott Michael Rajeski sold 33,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $6.09, for a total transaction of $200,970.00. Following the sale, the chief executive officer now owns 516,680 shares of the company’s stock, valued at $3,146,581.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Scott Michael Rajeski sold 33,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.09, for a total value of $200,970.00. Following the transaction, the chief executive officer now owns 516,680 shares in the company, valued at $3,146,581.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Suraj Kunchala sold 10,139 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $5.06, for a total transaction of $51,303.34. Following the completion of the transaction, the vice president now owns 38,748 shares in the company, valued at approximately $196,064.88. The disclosure for this sale can be found here. Insiders have sold 72,932 shares of company stock valued at $441,364 over the last quarter. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its holdings in Latham Group by 69.2% in the first quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock worth $43,000 after purchasing an additional 4,484 shares during the last quarter. Diversified Trust Co purchased a new stake in Latham Group in the second quarter worth approximately $34,000. Quadrature Capital Ltd purchased a new stake in Latham Group in the fourth quarter worth approximately $32,000. Burns Matteson Capital Management LLC purchased a new stake in Latham Group in the second quarter worth approximately $49,000. Finally, Oxford Asset Management LLP purchased a new stake in Latham Group in the fourth quarter worth approximately $46,000. Institutional investors own 83.95% of the company’s stock.

Latham Group Stock Up 3.7 %

The company has a quick ratio of 2.15, a current ratio of 3.22 and a debt-to-equity ratio of 0.68. The company’s fifty day moving average is $4.84 and its 200-day moving average is $3.92. The company has a market cap of $770.87 million, a PE ratio of 222.33 and a beta of 1.87.

Latham Group (NASDAQ:SWIM) last released its quarterly 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 business had revenue of $160.12 million for the quarter, compared to the consensus estimate of $156.00 million. On average, analysts predict that Latham Group, Inc. will post -0.03 EPS for the current year.

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.