Latham Group (NASDAQ:SWIM) Shares Gap Up After Insider Buying Activity

Latham Group, Inc. (NASDAQ:SWIM)’s stock price gapped up before the market opened on Thursday after an insider bought additional shares in the company. The stock had previously closed at $4.89, but opened at $5.23. Latham Group shares last traded at $5.0090, with a volume of 183,694 shares trading hands.

Specifically, Director James E. Cline purchased 50,000 shares of Latham Group stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of $4.84 per share, for a total transaction of $242,000.00. Following the transaction, the director owned 100,000 shares in the company, valued at $484,000. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Latham Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Wall Street Zen lowered Latham Group from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Zacks Research cut Latham Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Bank of America lowered their price target on Latham Group from $7.00 to $6.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. Finally, Stifel Nicolaus increased their price objective on Latham Group from $8.75 to $9.50 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.50.

Latham Group Trading Up 2.6%

The business’s 50-day simple moving average is $5.64 and its 200-day simple moving average is $6.29. The company has a market cap of $588.82 million, a PE ratio of 71.79, a P/E/G ratio of 0.82 and a beta of 1.72. The company has a current ratio of 1.88, a quick ratio of 1.16 and a debt-to-equity ratio of 0.70.

Latham Group (NASDAQ:SWIM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Latham Group had a net margin of 1.55% and a return on equity of 2.13%. The company had revenue of $117.32 million for the quarter, compared to analysts’ expectations of $118.39 million. As a group, analysts expect that Latham Group, Inc. will post 0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in shares of Latham Group by 9.0% during the 1st quarter. Renaissance Technologies LLC now owns 497,500 shares of the company’s stock worth $2,672,000 after purchasing an additional 41,100 shares in the last quarter. Modern Wealth Management LLC grew its stake in shares of Latham Group by 28.3% in the 1st quarter. Modern Wealth Management LLC now owns 16,814 shares of the company’s stock valued at $90,000 after buying an additional 3,712 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Latham Group by 293.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 431,239 shares of the company’s stock valued at $2,316,000 after buying an additional 321,577 shares in the last quarter. Walleye Capital LLC acquired a new position in Latham Group in the first quarter worth approximately $320,000. Finally, Dimensional Fund Advisors LP raised its position in Latham Group by 16.2% during the first quarter. Dimensional Fund Advisors LP now owns 3,370,146 shares of the company’s stock valued at $18,096,000 after acquiring an additional 470,123 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Latham Group Company Profile

Latham Group, Inc designs, manufactures and supplies a broad range of aquatic products and services for residential and commercial applications. Offerings include fiberglass and vinyl-liner pool shells, commercial water park structures, water slides, surf simulators, pumps, filters, heaters and sanitation systems. The company also provides parts, equipment and technical support for pool installation, maintenance and repair.

Operating across three core segments—commercial, residential and aftermarket—Latham delivers turnkey aquatic facilities and attractions for municipal, hospitality and resort clients, offers packaged pool kits and equipment packages to builders and dealers, and supplies replacement parts, service contracts and technical assistance to support ongoing pool operations.

Headquartered in the United States, Latham Group maintains manufacturing and distribution centers throughout North America and Europe.