Latham Group, Inc. (NASDAQ:SWIM) Sees Significant Growth in Short Interest

Latham Group, Inc. (NASDAQ:SWIM) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 3,030,000 shares, a growth of 28.4% from the November 30th total of 2,360,000 shares. Based on an average trading volume of 637,700 shares, the short-interest ratio is presently 4.8 days. Approximately 7.9% of the shares of the company are short sold.

Latham Group Stock Performance

NASDAQ SWIM opened at $6.81 on Tuesday. Latham Group has a 52-week low of $2.11 and a 52-week high of $8.41. The company has a fifty day moving average of $6.64 and a 200-day moving average of $5.56. The company has a market capitalization of $787.41 million, a P/E ratio of 75.68 and a beta of 1.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.60 and a current ratio of 2.44.

Analysts Set New Price Targets

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

Insider Activity at Latham Group

In other Latham Group news, CEO Scott Michael Rajeski sold 22,191 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $8.34, for a total value of $185,072.94. Following the completion of the transaction, the chief executive officer now owns 480,829 shares in the company, valued at $4,010,113.86. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Oliver C. Gloe sold 10,216 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $6.44, for a total value of $65,791.04. Following the sale, the chief financial officer now owns 282,706 shares in the company, valued at approximately $1,820,626.64. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,157 shares of company stock worth $320,189. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Latham Group

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of 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 purchasing an additional 3,123 shares during the last quarter. Quarry LP bought a new position in Latham Group during the third quarter valued at approximately $53,000. Ritholtz Wealth Management purchased a new position in shares of Latham Group during the second quarter worth approximately $55,000. Quadrature Capital Ltd bought a new stake in shares of Latham Group in the 3rd quarter worth approximately $72,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Latham Group by 71.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 27,923 shares of the company’s stock valued at $85,000 after purchasing an additional 11,601 shares in the last quarter. 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.