Latham Group (NASDAQ:SWIM) Shares Gap Up – What’s Next?

Latham Group, Inc. (NASDAQ:SWIM)’s share price gapped up before the market opened on Monday . The stock had previously closed at $6.22, but opened at $6.44. Latham Group shares last traded at $6.32, with a volume of 78,641 shares.

Wall Street Analysts Forecast Growth

SWIM has been the topic of a number of analyst reports. Robert W. Baird set a $8.50 price objective on shares of Latham Group in a research note on Wednesday, March 5th. The Goldman Sachs Group increased their price objective on shares of Latham Group from $4.00 to $4.50 and gave the stock a “sell” rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Latham Group presently has an average rating of “Hold” and a consensus target price of $7.56.

Latham Group Trading Down 0.9%

The business’s 50 day moving average price is $5.90 and its two-hundred day moving average price is $6.42. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $728.46 million, a price-to-earnings ratio of 69.56 and a beta of 1.72.

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 value of $688,335.00. Following the transaction, the insider now owns 332,818 shares in the company, valued at approximately $2,176,629.72. The trade was a 24.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James E. Cline sold 45,583 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $5.95, for a total transaction of $271,218.85. Following the completion of the transaction, the director now owns 193,668 shares in the company, valued at $1,152,324.60. This trade represents a 19.05% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 155,250 shares of company stock worth $988,044. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SWIM. Wynnchurch Capital Partners IV L.P. acquired a new position in shares of Latham Group during the 4th quarter valued at $104,287,000. ABS Direct Equity Fund LLC lifted its position in shares of Latham Group by 33.3% during the 4th quarter. ABS Direct Equity Fund LLC now owns 200,000 shares of the company’s stock valued at $1,392,000 after acquiring an additional 50,000 shares during the period. Legal & General Group Plc lifted its position in shares of Latham Group by 740.9% during the 4th quarter. Legal & General Group Plc now owns 31,299 shares of the company’s stock valued at $218,000 after acquiring an additional 27,577 shares during the period. Barclays PLC lifted its position in shares of Latham Group by 27.0% during the 4th quarter. Barclays PLC now owns 69,477 shares of the company’s stock valued at $484,000 after acquiring an additional 14,757 shares during the period. Finally, Pamplona Capital Management LLC acquired a new position in shares of Latham Group during the 4th quarter valued at $360,846,000. 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.