Latham Group (NASDAQ:SWIM) Reaches New 1-Year High Following Insider Buying Activity

Key Points

• Latham Group's stock reached a new 52-week high of $8.46 following insider buying, particularly by Director Frank J. Dellaquila, who purchased 5,000 shares at $8.24 each.
• Goldman Sachs upgraded the price target for Latham Group from $4.00 to $4.50 while maintaining a "sell" rating, amid a broader consensus rating of "Moderate Buy".
• The company has seen significant institutional investment, with several hedge funds increasing their stakes by notable percentages, resulting in 83.95% institutional ownership.

Latham Group, Inc. (NASDAQ:SWIM - Get Free Report)'s share price hit a new 52-week high during trading on Monday after an insider bought additional shares in the company. The stock traded as high as $8.46 and last traded at $8.23, with a volume of 221732 shares trading hands. The stock had previously closed at $8.22.

Specifically, Director Frank J. Dellaquila purchased 5,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were purchased at an average price of $8.24 per share, for a total transaction of $41,200.00. Following the completion of the acquisition, the director directly owned 21,814 shares in the company, valued at $179,747.36. This represents a 29.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group increased their price target on shares of Latham Group from $4.00 to $4.50 and gave the company a "sell" rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $7.95.

Latham Group Stock Down 0.1%

The company's 50 day moving average price is $6.83 and its two-hundred day moving average price is $6.34. The firm has a market cap of $957.26 million, a PE ratio of -68.49 and a beta of 1.72. The company has a current ratio of 2.39, a quick ratio of 1.51 and a debt-to-equity ratio of 0.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SWIM. LPL Financial LLC boosted its stake in shares of Latham Group by 12.0% during the 4th quarter. LPL Financial LLC now owns 15,954 shares of the company's stock worth $111,000 after acquiring an additional 1,713 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Latham Group by 26.2% during the 4th quarter. Wells Fargo & Company MN now owns 23,783 shares of the company's stock worth $166,000 after acquiring an additional 4,931 shares during the last quarter. Legal & General Group Plc boosted its stake 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 worth $218,000 after acquiring an additional 27,577 shares during the last quarter. Barclays PLC boosted its stake in shares of Latham Group by 27.0% during the 4th quarter. Barclays PLC now owns 69,477 shares of the company's stock worth $484,000 after acquiring an additional 14,757 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Latham Group by 28.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,094,992 shares of the company's stock worth $14,580,000 after acquiring an additional 458,604 shares during the last quarter. Hedge funds and other institutional investors 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.

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