Latham Group (NASDAQ:SWIM) Stock Price Down 4.6% – Should You Sell?

Shares of Latham Group, Inc. (NASDAQ:SWIM) were down 4.6% on Thursday . The stock traded as low as $6.63 and last traded at $6.64. Approximately 167,328 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 467,921 shares. The stock had previously closed at $6.96.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SWIM shares. Robert W. Baird increased their price target on Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Craig Hallum initiated coverage on shares of Latham Group in a research 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 research report on Wednesday, November 6th. Finally, Stifel Nicolaus lifted their price objective on shares of Latham Group from $7.70 to $8.80 and gave the company a “buy” rating in a report on Wednesday, December 11th. Two equities research 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.65.

Latham Group Stock Performance

The firm’s 50 day moving average is $6.65 and its 200 day moving average is $5.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.60 and a current ratio of 2.44. The stock has a market cap of $759.66 million, a P/E ratio of 73.01 and a beta of 1.84.

Insider Transactions at Latham Group

In other Latham Group news, CFO Oliver C. Gloe sold 10,216 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $6.44, for a total transaction of $65,791.04. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Scott Michael Rajeski sold 22,191 shares of Latham Group 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 sale, the chief executive officer now owns 480,829 shares of the company’s stock, valued at $4,010,113.86. The trade was a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,157 shares of company stock valued at $320,189. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Latham Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake 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 buying an additional 3,123 shares during the last quarter. Quarry LP purchased a new position in Latham Group during the third quarter valued at approximately $53,000. Quadrature Capital Ltd acquired a new position in Latham Group in the third quarter valued at approximately $72,000. Voya Financial Advisors Inc. acquired a new position in Latham Group in the third quarter valued at approximately $89,000. Finally, Intech Investment Management LLC purchased a new stake in Latham Group in the 3rd quarter worth approximately $92,000. 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.