Latham Group (NASDAQ:SWIM) Shares Gap Down on Insider Selling

Latham Group, Inc. (NASDAQ:SWIM)’s share price gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $7.72, but opened at $7.54. Latham Group shares last traded at $7.71, with a volume of 27,263 shares.

Specifically, CEO Scott Michael Rajeski sold 22,191 shares of Latham Group stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $8.34, for a total transaction of $185,072.94. Following the transaction, the chief executive officer now directly owns 480,829 shares of the company’s stock, valued at $4,010,113.86. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SWIM. Craig Hallum assumed coverage on shares of Latham Group in a research report on Monday, December 9th. They set a “buy” rating and a $10.00 price objective for the company. Robert W. Baird upped their price objective on shares of Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group boosted their price target on shares of Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Finally, Stifel Nicolaus raised their price objective on shares of Latham Group from $7.70 to $8.80 and gave the stock a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.65.

Latham Group Trading Down 2.5 %

The business’s 50-day simple moving average is $6.59 and its 200-day simple moving average is $5.31. The company has a market cap of $870.66 million, a PE ratio of 83.67 and a beta of 1.84. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67.

Institutional Trading of Latham Group

A number of institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new stake in shares of Latham Group during the 3rd quarter worth about $697,000. Thrivent Financial for Lutherans bought a new position in Latham Group during the third quarter valued at approximately $635,000. Roubaix Capital LLC lifted its stake in Latham Group by 70.9% in the third quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock valued at $5,178,000 after acquiring an additional 315,889 shares during the last quarter. American Century Companies Inc. grew its position in Latham Group by 103.7% in the second quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock worth $1,269,000 after acquiring an additional 213,128 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Latham Group during the 3rd quarter worth $92,000. Institutional investors and hedge funds 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.