Latham Group (NASDAQ:SWIM) Sets New 52-Week High at $6.93

Latham Group, Inc. (NASDAQ:SWIM) shares reached a new 52-week high during trading on Monday . The company traded as high as $6.93 and last traded at $6.85, with a volume of 190567 shares trading hands. The stock had previously closed at $6.74.

Analysts Set New Price Targets

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

Latham Group Price Performance

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 simple moving average of $5.40 and a 200 day simple moving average of $4.11. The company has a market capitalization of $785.90 million, a PE ratio of 223.67 and a beta of 1.87.

Latham Group (NASDAQ:SWIM) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.12. The firm had revenue of $160.12 million during 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%. Equities analysts anticipate that Latham Group, Inc. will post -0.02 EPS for the current year.

Insider Buying and Selling

In related news, CEO Scott Michael Rajeski sold 25,851 shares of the business’s stock in a transaction on Monday, August 26th. The shares were 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. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Scott Michael Rajeski sold 25,851 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $6.54, for a total value of $169,065.54. Following the transaction, the chief executive officer now directly owns 490,829 shares of the company’s stock, valued at approximately $3,210,021.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Suraj Kunchala sold 10,139 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 38,748 shares of the company’s stock, valued at approximately $196,064.88. The disclosure for this sale can be found here. Insiders sold 72,932 shares of company stock valued at $441,364 over the last quarter. 8.60% of the stock is currently owned by company insiders.

Institutional Trading of Latham Group

A number of hedge funds have recently bought and sold shares of SWIM. Public Employees Retirement System of Ohio grew its position in shares of 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of Latham Group by 0.8% in the 1st 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 purchased a new position in shares of Latham Group during the 2nd quarter worth $49,000. Cullen Capital Management LLC raised its holdings in shares of Latham Group by 50.4% during the 4th 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 period. Finally, Empowered Funds LLC boosted its position in shares of Latham Group by 8.2% during the 1st quarter. Empowered Funds LLC now owns 271,220 shares of the company’s stock valued at $1,074,000 after acquiring an additional 20,475 shares during the last quarter. 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.