Latham Group (NASDAQ:SWIM) Shares Down 4.1%

Latham Group, Inc. (NASDAQ:SWIM) fell 4.1% during trading on Wednesday . The company traded as low as $6.32 and last traded at $6.33. 106,428 shares were traded during mid-day trading, a decline of 74% from the average session volume of 407,780 shares. The stock had previously closed at $6.60.

Wall Street Analyst Weigh In

A number of brokerages have commented on SWIM. Barclays upped their price objective on Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Stifel Nicolaus increased their target price on Latham Group from $6.80 to $7.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, Robert W. Baird increased their target price on Latham Group from $5.00 to $5.50 and gave the stock an “outperform” rating in a report on Wednesday, August 7th.

Latham Group Trading Down 2.1 %

The company has a market capitalization of $746.60 million, a price-to-earnings ratio of 213.00 and a beta of 1.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.15 and a current ratio of 3.22. The firm has a fifty day moving average price of $5.19 and a 200-day moving average price of $4.03.

Latham Group (NASDAQ:SWIM) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.12. The business had revenue of $160.12 million for the quarter, compared to analyst estimates of $156.00 million. Latham Group had a return on equity of 2.93% and a net margin of 2.24%. As a group, equities analysts anticipate that Latham Group, Inc. will post -0.02 EPS for the current year.

Insider Activity at Latham Group

In related news, CEO Scott Michael Rajeski sold 33,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $6.09, for a total value of $200,970.00. Following the sale, the chief executive officer now directly 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 accessible through this link. In other Latham Group news, VP Suraj Kunchala sold 10,139 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $5.06, for a total value of $51,303.34. Following the completion of the transaction, the vice president now directly owns 38,748 shares in the company, valued at $196,064.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Michael Rajeski sold 33,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $6.09, for a total value of $200,970.00. Following the completion of the transaction, the chief executive officer now owns 516,680 shares of the company’s stock, valued at $3,146,581.20. 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 ninety days. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Latham Group

Large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position 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 valued at $43,000 after purchasing an additional 4,484 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Latham Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock worth $8,234,000 after acquiring an additional 17,259 shares during the last quarter. Burns Matteson Capital Management LLC bought a new position in shares of Latham Group during the second quarter worth about $49,000. Cullen Capital Management LLC raised its position in shares of Latham Group by 50.4% during the fourth quarter. Cullen Capital Management LLC now owns 76,059 shares of the company’s stock worth $200,000 after acquiring an additional 25,491 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Latham Group by 8.2% during the first quarter. Empowered Funds LLC now owns 271,220 shares of the company’s stock worth $1,074,000 after acquiring an additional 20,475 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

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.