Latham Group (NASDAQ:SWIM) Sees Large Volume Increase – Should You Buy?

Latham Group, Inc. (NASDAQ:SWIM) shares saw strong trading volume on Tuesday . 1,862,293 shares changed hands during trading, an increase of 268% from the previous session’s volume of 506,078 shares.The stock last traded at $6.30 and had previously closed at $6.41.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. The Goldman Sachs Group increased their price target on Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Craig Hallum assumed 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 for the company. 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 boosted their target price on shares of Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Latham Group presently has an average rating of “Hold” and an average target price of $6.65.

Latham Group Stock Down 2.3 %

The firm has a 50-day moving average of $6.85 and a two-hundred day moving average of $6.57. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $723.90 million, a PE ratio of 69.47 and a beta of 1.81.

Insider Buying and Selling

In related news, CEO Scott Michael Rajeski sold 22,191 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $8.34, for a total value of $185,072.94. Following the sale, the chief executive officer now owns 480,829 shares in the company, valued at approximately $4,010,113.86. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Latham Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Latham Group in the third quarter valued at $105,000. Roubaix Capital LLC grew its position in shares of Latham Group by 70.9% during the third quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock worth $5,178,000 after acquiring an additional 315,889 shares during the last quarter. Olympiad Research LP acquired a new position in shares of Latham Group in the 3rd quarter valued at $160,000. Principal Financial Group Inc. acquired a new position in Latham Group in the third quarter valued at $697,000. Finally, BloombergSen Inc. raised its stake in Latham Group by 64.2% during the 3rd quarter. BloombergSen Inc. now owns 79,745 shares of the company’s stock valued at $542,000 after acquiring an additional 31,185 shares during the last quarter. Hedge funds and other 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.