Latham Group (NASDAQ:SWIM) Sees Strong Trading Volume – Here’s Why

Latham Group, Inc. (NASDAQ:SWIM) saw unusually-strong trading volume on Friday . Approximately 625,292 shares changed hands during mid-day trading, an increase of 15% from the previous session’s volume of 543,161 shares.The stock last traded at $6.61 and had previously closed at $6.99.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SWIM. Robert W. Baird set a $8.50 target price on shares of Latham Group in a report on Wednesday, March 5th. 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, Craig Hallum initiated coverage on Latham Group in a research note on Monday, December 9th. They issued a “buy” rating and a $10.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.66.

Latham Group Trading Down 8.0 %

The firm has a market capitalization of $744.45 million, a PE ratio of 71.45 and a beta of 1.84. The firm has a 50 day simple moving average of $6.77 and a 200 day simple moving average of $6.69. 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 Activity

In other news, major shareholder Wc Partners Executive Iv, L.P. sold 105,250 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $6.54, for a total transaction of $688,335.00. Following the completion of the transaction, the insider now directly owns 332,818 shares of the company’s stock, valued at $2,176,629.72. The trade was a 24.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Latham Group

Large investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new position in shares of Latham Group during the 4th quarter valued at $33,000. BNP Paribas Financial Markets bought a new position in Latham Group in the fourth quarter valued at about $42,000. FMR LLC boosted its position in Latham Group by 75.9% in the third quarter. FMR LLC now owns 7,239 shares of the company’s stock worth $49,000 after purchasing an additional 3,123 shares during the last quarter. Quarry LP bought a new stake in shares of Latham Group during the 3rd quarter valued at about $53,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Latham Group during the 3rd quarter valued at 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.