Latham Group (NASDAQ:SWIM) Shares Gap Down Following Insider Selling

Latham Group, Inc. (NASDAQ:SWIM)’s stock price gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $7.72, but opened at $7.54. Latham Group shares last traded at $7.71, with a volume of 27,263 shares.

Specifically, CEO Scott Michael Rajeski sold 22,191 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $8.34, for a total transaction of $185,072.94. Following the transaction, the chief executive officer now directly owns 480,829 shares in the company, valued at $4,010,113.86. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

A number of brokerages have weighed in on SWIM. Stifel Nicolaus increased their target price on shares of Latham Group from $7.70 to $8.80 and gave the stock a “buy” rating in a report on Wednesday. Robert W. Baird raised their target price on shares of Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Craig Hallum began coverage on Latham Group in a research note on Monday, December 9th. They issued a “buy” rating and a $10.00 target price for the company. Finally, 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. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.65.

Latham Group Stock Down 2.5 %

The firm’s 50 day simple moving average is $6.59 and its 200 day simple moving average is $5.31. The company has a market cap of $870.66 million, a price-to-earnings ratio of 83.67 and a beta of 1.84. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67.

Institutional Trading of Latham Group

Several hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. acquired a new position in shares of Latham Group during the third quarter valued at $438,000. Barclays PLC increased its stake in Latham Group by 294.8% during the 3rd quarter. Barclays PLC now owns 54,720 shares of the company’s stock valued at $372,000 after buying an additional 40,860 shares during the period. Geode Capital Management LLC raised its position in shares of Latham Group by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 971,731 shares of the company’s stock worth $6,609,000 after buying an additional 20,209 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Latham Group in the third quarter valued at approximately $382,000. Finally, Zacks Investment Management increased its stake in shares of Latham Group by 69.2% during the third quarter. Zacks Investment Management now owns 25,523 shares of the company’s stock valued at $174,000 after acquiring an additional 10,436 shares during the period. 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.