Latham Group (NASDAQ:SWIM) Trading Down 4.6% – Time to Sell?

Latham Group, Inc. (NASDAQ:SWIM)’s share price fell 4.6% during mid-day trading on Thursday . The company traded as low as $6.63 and last traded at $6.64. 167,328 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 467,921 shares. The stock had previously closed at $6.96.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SWIM shares. The Goldman Sachs Group boosted their price target on shares of Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Stifel Nicolaus boosted their target price on shares of Latham Group from $7.70 to $8.80 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Craig Hallum initiated coverage on shares of Latham Group in a research note on Monday, December 9th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Robert W. Baird lifted their price objective on Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.65.

Latham Group Price Performance

The company has a debt-to-equity ratio of 0.67, a current ratio of 2.44 and a quick ratio of 1.60. The stock’s fifty day moving average is $6.65 and its 200-day moving average is $5.61. The stock has a market cap of $759.66 million, a PE ratio of 73.01 and a beta of 1.84.

Insider Transactions at Latham Group

In other Latham Group news, CFO Oliver C. Gloe sold 10,216 shares of the firm’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 sale, the chief financial officer now owns 282,706 shares of the company’s stock, valued at $1,820,626.64. This trade represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Michael Rajeski sold 22,191 shares of Latham Group stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $8.34, for a total value of $185,072.94. Following the completion of the sale, the chief executive officer now owns 480,829 shares in the company, valued at $4,010,113.86. This represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,157 shares of company stock worth $320,189 in the last 90 days. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Latham Group

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. acquired a new stake in shares of Latham Group in the third quarter valued at $697,000. Thrivent Financial for Lutherans acquired a new position in Latham Group in the 3rd quarter valued at about $635,000. Roubaix Capital LLC increased its stake in Latham Group by 70.9% during the third quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock worth $5,178,000 after purchasing an additional 315,889 shares during the period. FMR LLC lifted its position in shares of Latham Group by 75.9% during the third quarter. FMR LLC now owns 7,239 shares of the company’s stock worth $49,000 after purchasing an additional 3,123 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Latham Group by 103.7% in the second quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock valued at $1,269,000 after purchasing an additional 213,128 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

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.