Latham Group (NASDAQ:SWIM) Sets New 52-Week High on 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) shares reached a new 52-week high on Monday after an insider bought additional shares in the company. The company traded as high as $8.46 and last traded at $8.23, with a volume of 221732 shares traded. The stock had previously closed at $8.22.

Specifically, Director Frank J. Dellaquila purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was bought at an average price of $8.24 per share, with a total value of $41,200.00. Following the completion of the purchase, the director directly owned 21,814 shares of the company's stock, valued at $179,747.36. The trade was a 29.74% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

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

Latham Group Price Performance

The firm has a fifty day moving average of $7.06 and a 200 day moving average of $6.40. The company has a market capitalization of $935.83 million, a P/E ratio of -66.91 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 Investors Weigh In On Latham Group

A number of large investors have recently made changes to their positions in SWIM. Wells Fargo & Company MN lifted its stake in shares of Latham Group by 26.2% in the 4th quarter. Wells Fargo & Company MN now owns 23,783 shares of the company's stock worth $166,000 after purchasing an additional 4,931 shares during the period. Barclays PLC lifted its stake in shares of Latham Group by 27.0% in the 4th quarter. Barclays PLC now owns 69,477 shares of the company's stock worth $484,000 after purchasing an additional 14,757 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Latham Group by 28.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,094,992 shares of the company's stock worth $14,580,000 after purchasing an additional 458,604 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Latham Group by 15.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,856 shares of the company's stock worth $111,000 after purchasing an additional 2,168 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Latham Group in the 4th quarter worth approximately $331,000. 83.95% of the stock is currently owned by institutional investors.

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.