Latham Group (NASDAQ:SWIM) Shares Gap Up – What’s Next?

Shares of Latham Group, Inc. (NASDAQ:SWIM) gapped up before the market opened on Monday . The stock had previously closed at $6.22, but opened at $6.44. Latham Group shares last traded at $6.32, with a volume of 78,641 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SWIM. The Goldman Sachs Group lifted their target price on Latham Group from $4.00 to $4.50 and gave the company a “sell” rating in a research report on Thursday, May 8th. Robert W. Baird set a $8.50 target price on Latham Group in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.56.

Latham Group Price Performance

The company has a 50 day moving average price of $5.93 and a 200-day moving average price of $6.43. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67. The company has a market cap of $746.50 million, a price-to-earnings ratio of 71.29 and a beta of 1.72.

Insider Buying and Selling

In other news, major shareholder Wc Partners Executive Iv, L.P. sold 105,250 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $6.54, for a total transaction of $688,335.00. Following the completion of the sale, the insider now owns 332,818 shares in the company, valued at $2,176,629.72. The trade was a 24.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James E. Cline sold 45,583 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $5.95, for a total value of $271,218.85. Following the transaction, the director now directly owns 193,668 shares in the company, valued at $1,152,324.60. The trade was a 19.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,250 shares of company stock valued at $988,044 over the last quarter. Insiders own 8.60% of the company’s stock.

Institutional Trading of Latham Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SWIM. Summit Securities Group LLC purchased a new stake in Latham Group in the 4th quarter valued at $33,000. BNP Paribas Financial Markets purchased a new position in shares of Latham Group in the fourth quarter valued at $42,000. GAMMA Investing LLC increased its position in shares of Latham Group by 2,565.5% during the first quarter. GAMMA Investing LLC now owns 6,957 shares of the company’s stock valued at $45,000 after buying an additional 6,696 shares during the period. ProShare Advisors LLC purchased a new stake in Latham Group in the 4th quarter worth approximately $79,000. Finally, US Bancorp DE grew its position in shares of Latham Group by 29,902.6% during the 4th quarter. US Bancorp DE now owns 11,701 shares of the company’s stock valued at $81,000 after purchasing an additional 11,662 shares in the last quarter. Institutional investors 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.