Latham Group (NASDAQ:SWIM) Hits New 1-Year High at $6.93

Latham Group, Inc. (NASDAQ:SWIM)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $6.93 and last traded at $6.91, with a volume of 73766 shares traded. The stock had previously closed at $6.43.

Analysts Set New Price Targets

SWIM has been the subject of several research reports. Stifel Nicolaus raised their price objective on shares of Latham Group from $6.80 to $7.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Robert W. Baird boosted their target price on Latham Group from $5.00 to $5.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Barclays lifted their price objective on 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 Price Performance

The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.15 and a current ratio of 3.22. The company has a 50-day moving average price of $5.13 and a 200-day moving average price of $4.01. The firm has a market capitalization of $766.25 million, a P/E ratio of 230.33 and a beta of 1.87.

Latham Group (NASDAQ:SWIM) last issued its earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The firm had revenue of $160.12 million for the quarter, compared to analysts’ expectations of $156.00 million. Latham Group had a return on equity of 2.93% and a net margin of 2.24%. On average, sell-side analysts predict that Latham Group, Inc. will post -0.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Scott Michael Rajeski sold 33,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.09, for a total transaction of $200,970.00. Following the completion of the transaction, the chief executive officer now directly owns 516,680 shares of the company’s stock, valued at approximately $3,146,581.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Scott Michael Rajeski sold 33,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.09, for a total value of $200,970.00. Following the sale, the chief executive officer now owns 516,680 shares in the company, valued at approximately $3,146,581.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Suraj Kunchala sold 10,139 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $5.06, for a total value 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. Insiders sold 72,932 shares of company stock worth $441,364 over the last ninety days. 8.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Latham Group

Several large investors have recently added to or reduced their stakes in the business. Premier Fund Managers Ltd raised its holdings in shares of Latham Group by 55.7% in the fourth quarter. Premier Fund Managers Ltd now owns 199,536 shares of the company’s stock valued at $542,000 after purchasing an additional 71,343 shares during the last quarter. Cullen Capital Management LLC grew its position in shares of Latham Group by 50.4% during the 4th quarter. Cullen Capital Management LLC now owns 76,059 shares of the company’s stock valued at $200,000 after acquiring an additional 25,491 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Latham Group during the 4th quarter worth approximately $32,000. Empowered Funds LLC lifted its stake in Latham Group by 8.2% in the first quarter. Empowered Funds LLC now owns 271,220 shares of the company’s stock valued at $1,074,000 after purchasing an additional 20,475 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Latham Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock worth $8,234,000 after buying an additional 17,259 shares during the last quarter. Institutional investors and hedge funds 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.