Latham Group (NASDAQ:SWIM) Shares Gap Up – Time to Buy?
by Mitch Edgeman · The Markets DailyLatham Group, Inc. (NASDAQ:SWIM – Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $5.42, but opened at $5.72. Latham Group shares last traded at $5.76, with a volume of 112,932 shares changing hands.
Wall Street Analyst Weigh In
Several analysts have issued reports on SWIM shares. The Goldman Sachs Group raised their price objective on shares of Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Barclays boosted their price objective on Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Robert W. Baird increased their target price on Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus boosted 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. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.62.
Get Our Latest Stock Report on Latham Group
Latham Group Price Performance
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 firm has a fifty day simple moving average of $6.46 and a 200 day simple moving average of $4.85. The company has a market capitalization of $660.80 million, a PE ratio of 63.50 and a beta of 1.88.
Insider Activity
In other Latham Group news, CEO Scott Michael Rajeski sold 25,851 shares of the business’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 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 trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Sanjeev Bahl sold 11,750 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $5.90, for a total transaction of $69,325.00. Following the completion of the sale, the chief operating officer now owns 262,811 shares in the company, valued at $1,550,584.90. This represents a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,817 shares of company stock worth $304,182. Corporate insiders own 8.60% of the company’s stock.
Institutional Investors Weigh In On Latham Group
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position 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. Roubaix Capital LLC purchased a new stake in Latham Group in the first quarter valued at about $864,000. Lazard Asset Management LLC acquired a new stake in Latham Group in the first quarter worth about $80,000. Public Employees Retirement System of Ohio grew its stake in shares of Latham Group by 69.2% during the first quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock worth $43,000 after acquiring an additional 4,484 shares during the last quarter. Finally, Burns Matteson Capital Management LLC acquired a new position in shares of Latham Group during the second quarter valued at about $49,000. Hedge funds and other 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.