Latham Group (NASDAQ:SWIM) Shares Gap Up – Here’s Why

Shares of Latham Group, Inc. (NASDAQ:SWIM) gapped up prior to trading on Wednesday . The stock had previously closed at $5.46, but opened at $5.82. Latham Group shares last traded at $7.17, with a volume of 328,110 shares traded.

Wall Street Analyst Weigh In

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

Latham Group Price Performance

The firm has a 50-day simple moving average of $6.70 and a 200-day simple moving average of $6.58. The firm has a market cap of $823.25 million, a P/E ratio of 79.78 and a beta of 1.81. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67.

Insider Buying and Selling

In other Latham Group news, CEO Scott Michael Rajeski sold 22,191 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $8.34, for a total transaction of $185,072.94. Following the completion of the sale, the chief executive officer now directly owns 480,829 shares of the company’s stock, valued at approximately $4,010,113.86. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Summit Securities Group LLC purchased a new position in Latham Group in the fourth quarter worth $33,000. BNP Paribas Financial Markets purchased a new position in Latham Group during the 4th quarter worth $42,000. FMR LLC increased its position in Latham Group by 75.9% during the 3rd quarter. FMR LLC now owns 7,239 shares of the company’s stock valued at $49,000 after buying an additional 3,123 shares in the last quarter. Quarry LP purchased a new stake in Latham Group in the third quarter valued at about $53,000. Finally, Quadrature Capital Ltd acquired a new stake in Latham Group in the third quarter worth about $72,000. Institutional investors 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.