Latham Group (NASDAQ:SWIM) Stock Price Down 6% – Time to Sell?

Shares of Latham Group, Inc. (NASDAQ:SWIM) traded down 6% during mid-day trading on Friday . The stock traded as low as $6.58 and last traded at $6.63. 89,156 shares traded hands during trading, a decline of 80% from the average session volume of 456,058 shares. The stock had previously closed at $7.05.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus lifted their target price 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. Craig Hallum assumed coverage on shares of Latham Group in a report on Monday, December 9th. They issued a “buy” rating and a $10.00 price objective for the company. Robert W. Baird boosted their price objective on shares of Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group lifted their target price 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. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.65.

Latham Group Price Performance

The company has a market cap of $772.92 million, a P/E ratio of 74.12 and a beta of 1.81. 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 firm’s fifty day moving average is $6.97 and its two-hundred day moving average is $6.28.

Insider Buying and Selling

In other news, COO Sanjeev Bahl sold 11,750 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $5.90, for a total transaction of $69,325.00. Following the sale, the chief operating officer now directly owns 262,811 shares in the company, valued at approximately $1,550,584.90. This represents a 4.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott Michael Rajeski sold 22,191 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were 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 in the company, valued at $4,010,113.86. This represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.60% of the stock is currently owned by insiders.

Institutional Trading of Latham Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in Latham Group by 75.9% in the 3rd 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 period. Quarry LP purchased a new stake in Latham Group in the 3rd quarter worth about $53,000. Quadrature Capital Ltd purchased a new stake in Latham Group in the 3rd quarter worth about $72,000. US Bancorp DE raised its position in Latham Group by 29,902.6% in the 4th quarter. US Bancorp DE now owns 11,701 shares of the company’s stock worth $81,000 after purchasing an additional 11,662 shares during the period. Finally, Arizona State Retirement System bought a new position in Latham Group in the 4th quarter worth about $82,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

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.