Latham Group (NASDAQ:SWIM) Trading Down 7.1% – Here’s What Happened

Latham Group, Inc. (NASDAQ:SWIM)’s share price fell 7.1% on Friday . The stock traded as low as $4.76 and last traded at $4.67. Approximately 129,719 shares were traded during trading, a decline of 77% from the average session volume of 572,565 shares. The stock had previously closed at $5.02.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird set a $8.50 price objective on shares of 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.66.

Latham Group Stock Down 0.2 %

The stock has a 50 day moving average price of $6.41 and a 200 day moving average price of $6.62. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.60 and a current ratio of 2.44. The company has a market capitalization of $580.04 million, a P/E ratio of 55.67 and a beta of 1.70.

Insider Buying and Selling

In other Latham Group news, major shareholder Wc Partners Executive Iv, L.P. sold 105,250 shares of the stock in a transaction 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 transaction, the insider now directly owns 332,818 shares of the company’s stock, valued at approximately $2,176,629.72. This represents a 24.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Latham Group

Several hedge funds have recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in Latham Group in the 4th quarter worth about $33,000. BNP Paribas Financial Markets purchased a new stake in Latham Group during the fourth quarter valued at about $42,000. GAMMA Investing LLC boosted its position in Latham Group by 2,565.5% during the first quarter. GAMMA Investing LLC now owns 6,957 shares of the company’s stock worth $45,000 after purchasing an additional 6,696 shares during the period. FMR LLC increased its stake in shares of Latham Group by 75.9% in 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, ProShare Advisors LLC bought a new stake in shares of Latham Group in the fourth quarter valued at approximately $79,000. 83.95% of the stock is currently owned by institutional investors.

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.