Latham Group (NASDAQ:SWIM) Stock Price Up 3.3%

Latham Group, Inc. (NASDAQ:SWIM) traded up 3.3% during trading on Tuesday . The stock traded as high as $6.02 and last traded at $5.97. 112,017 shares changed hands during trading, a decline of 72% from the average session volume of 398,740 shares. The stock had previously closed at $5.78.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SWIM shares. Robert W. Baird boosted their price target on Latham Group from $5.00 to $5.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Stifel Nicolaus boosted their target price on shares of Latham Group from $4.75 to $6.80 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Barclays upped their price target on shares of Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th.

Latham Group Stock Performance

The company has a debt-to-equity ratio of 0.68, a current ratio of 3.22 and a quick ratio of 2.15. The stock has a 50-day moving average price of $4.42 and a 200-day moving average price of $3.78. The company has a market capitalization of $694.64 million, a price-to-earnings ratio of 192.67 and a beta of 1.86.

Latham Group (NASDAQ:SWIM) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.12. Latham Group had a return on equity of 2.93% and a net margin of 2.24%. The business had revenue of $160.12 million during the quarter, compared to the consensus estimate of $156.00 million. As a group, analysts forecast that Latham Group, Inc. will post -0.03 earnings per share for the current year.

Insider Buying and Selling

In other Latham Group news, VP Suraj Kunchala sold 10,139 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $5.06, for a total value of $51,303.34. Following the transaction, the vice president now directly owns 38,748 shares of the company’s stock, valued at approximately $196,064.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Scott Michael Rajeski sold 33,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $6.09, for a total transaction of $200,970.00. Following the transaction, the chief executive officer now directly owns 516,680 shares of the company’s stock, valued at $3,146,581.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Suraj Kunchala sold 10,139 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $5.06, for a total transaction of $51,303.34. Following the transaction, the vice president now owns 38,748 shares in the company, valued at approximately $196,064.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,932 shares of company stock valued at $441,364. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Latham Group

A number of large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its position in shares of Latham Group by 23.3% in the fourth quarter. Victory Capital Management Inc. now owns 2,462,645 shares of the company’s stock worth $6,477,000 after purchasing an additional 465,530 shares during the period. Natixis Advisors L.P. raised its position in Latham Group by 50.1% during the fourth quarter. Natixis Advisors L.P. now owns 877,079 shares of the company’s stock valued at $2,306,000 after purchasing an additional 292,885 shares in the last quarter. Oxford Asset Management LLP bought a new stake in Latham Group during the fourth quarter worth $46,000. Premier Fund Managers Ltd lifted its stake in Latham Group by 55.7% during the fourth quarter. Premier Fund Managers Ltd now owns 199,536 shares of the company’s stock worth $542,000 after purchasing an additional 71,343 shares during the last quarter. Finally, Cullen Capital Management LLC boosted its holdings in shares of Latham Group by 50.4% in the 4th quarter. Cullen Capital Management LLC now owns 76,059 shares of the company’s stock valued at $200,000 after purchasing an additional 25,491 shares in the last quarter. Institutional investors and hedge funds 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.