Latham Group (NASDAQ:SWIM) Trading Down 5.3% – Should You Sell?

Latham Group, Inc. (NASDAQ:SWIM) shares traded down 5.3% on Thursday . The company traded as low as $7.78 and last traded at $7.91. 102,026 shares were traded during trading, a decline of 78% from the average session volume of 460,520 shares. The stock had previously closed at $8.35.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Robert W. Baird increased their price objective on shares of Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their price objective on Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Stifel Nicolaus boosted their price objective on Latham Group from $7.70 to $8.80 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Craig Hallum assumed coverage on Latham Group in a research note on Monday. They issued a “buy” rating and a $10.00 target price for the company. Two equities research analysts have 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 company presently has an average rating of “Hold” and a consensus price target of $6.65.

Latham Group Price Performance

The stock has a 50-day simple moving average of $6.55 and a 200 day simple moving average of $5.26. The company has a market cap of $928.47 million, a PE ratio of 86.89 and a beta of 1.84. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67.

Insider Activity at Latham Group

In other Latham Group news, COO Sanjeev Bahl sold 11,750 shares of Latham Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $5.90, for a total value of $69,325.00. Following the completion of the transaction, the chief operating officer now directly owns 262,811 shares of the company’s stock, valued at $1,550,584.90. The trade was a 4.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Oliver C. Gloe sold 10,216 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $6.44, for a total transaction of $65,791.04. Following the completion of the transaction, the chief financial officer now owns 282,706 shares of the company’s stock, valued at approximately $1,820,626.64. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. 7.60% of the stock is owned by insiders.

Institutional Trading of Latham Group

Several hedge funds have recently added to or reduced their stakes in SWIM. Vanguard Group Inc. grew its stake 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 purchasing an additional 17,259 shares in the last quarter. Diversified Trust Co purchased a new position in shares of Latham Group in the 2nd quarter valued at about $34,000. Bank of New York Mellon Corp lifted its stake in Latham Group by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 177,134 shares of the company’s stock worth $537,000 after purchasing an additional 3,837 shares during the last quarter. BloombergSen Inc. raised its holdings in Latham Group by 24.3% during the second quarter. BloombergSen Inc. now owns 48,560 shares of the company’s stock worth $147,000 after purchasing an additional 9,506 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Latham Group by 1.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 197,072 shares of the company’s stock valued at $597,000 after buying an additional 3,161 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

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.