Insider Selling: Latham Group, Inc. (NASDAQ:SWIM) COO Sells 3,653 Shares of Stock

Latham Group, Inc. (NASDAQ:SWIM – Get Rating) COO Sanjeev Bahl sold 3,653 shares of the firm’s stock in a transaction dated Tuesday, January 24th. The shares were sold at an average price of $3.58, for a total transaction of $13,077.74. Following the sale, the chief operating officer now directly owns 27,211 shares in the company, valued at approximately $97,415.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Latham Group Price Performance

NASDAQ:SWIM traded down $0.01 on Wednesday, reaching $3.66. 200,046 shares of the company’s stock traded hands, compared to its average volume of 395,278. The stock has a 50-day simple moving average of $3.33 and a 200-day simple moving average of $4.46. Latham Group, Inc. has a 12 month low of $2.75 and a 12 month high of $18.19. The firm has a market cap of $428.66 million, a PE ratio of 52.43, a P/E/G ratio of 0.91 and a beta of 0.85. The company has a quick ratio of 1.28, a current ratio of 2.71 and a debt-to-equity ratio of 0.78.

Latham Group (NASDAQ:SWIM – Get Rating) last issued its earnings results on Thursday, November 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.07). Latham Group had a net margin of 1.01% and a return on equity of 2.67%. The business had revenue of $189.40 million for the quarter, compared to the consensus estimate of $191.85 million. Equities research analysts forecast that Latham Group, Inc. will post 0.58 earnings per share for the current year.

Institutional Trading of Latham Group

A number of institutional investors and hedge funds have recently bought and sold shares of SWIM. Allspring Global Investments Holdings LLC bought a new position in shares of Latham Group during the 3rd quarter valued at about $34,000. Creative Planning bought a new stake in Latham Group in the 3rd quarter worth approximately $36,000. SG Americas Securities LLC purchased a new stake in shares of Latham Group during the 3rd quarter worth approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Latham Group during the 2nd quarter worth approximately $47,000. Finally, Delphia USA Inc. boosted its position in shares of Latham Group by 38.5% during the 3rd quarter. Delphia USA Inc. now owns 15,275 shares of the company’s stock valued at $55,000 after acquiring an additional 4,248 shares during the last quarter. 31.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SWIM shares. Barclays downgraded shares of Latham Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $7.00 to $5.00 in a research report on Wednesday, December 14th. Morgan Stanley dropped their target price on Latham Group from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Friday, January 6th. Stifel Nicolaus began coverage on shares of Latham Group in a research report on Monday, December 12th. They set a “hold” rating and a $3.00 price target for the company. Robert W. Baird dropped their price objective on shares of Latham Group from $8.00 to $6.00 in a report on Monday, November 14th. Finally, Truist Financial decreased their price target on shares of Latham Group from $10.00 to $6.00 in a research report on Monday, November 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.56.

About Latham Group

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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, pool covers, and pool liners. The company was formerly known as Latham Topco, Inc and changed its name to Latham Group, Inc in March 2021.