Weiss Ratings Reiterates Sell (D+) Rating for Latham Group (NASDAQ:SWIM)

Key Points

• Weiss Ratings has reiterated a "sell (D+)" rating for Latham Group (NASDAQ:SWIM), indicating a negative outlook on the company's stock performance.
• Latham Group's stock price increased by 3.8% to $7.68, with a market cap of approximately $895 million and a PE ratio of -63.99.
• Recent insider trading activity includes Director Frank J. Dellaquila purchasing 5,000 shares at $8.24 each, increasing his position by nearly 30%.

Latham Group (NASDAQ:SWIM - Get Free Report)'s stock had its "sell (d+)" rating reissued by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Latham Group Stock Up 3.8%

SWIM opened at $7.68 on Wednesday. The stock has a market cap of $895.03 million, a PE ratio of -63.99 and a beta of 1.71. The company has a quick ratio of 1.51, a current ratio of 2.39 and a debt-to-equity ratio of 0.70. Latham Group has a 52 week low of $4.56 and a 52 week high of $8.46. The business's fifty day simple moving average is $7.66 and its 200 day simple moving average is $6.61.

Insider Transactions at Latham Group

In other Latham Group news, Director Frank J. Dellaquila purchased 5,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was acquired at an average cost of $8.24 per share, for a total transaction of $41,200.00. Following the completion of the transaction, the director directly owned 21,814 shares in the company, valued at approximately $179,747.36. This represents a 29.74% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.60% of the stock is currently owned by insiders.

Institutional Trading of Latham Group

Several institutional investors have recently added to or reduced their stakes in SWIM. BNP Paribas Financial Markets boosted its position in Latham Group by 83.9% during the second quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company's stock valued at $27,000 after buying an additional 1,921 shares during the period. Raymond James Financial Inc. purchased a new stake in Latham Group during the second quarter valued at about $29,000. GAMMA Investing LLC boosted its position in Latham Group by 2,565.5% during the first quarter. GAMMA Investing LLC now owns 6,957 shares of the company's stock valued at $45,000 after buying an additional 6,696 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Latham Group during the second quarter valued at about $66,000. Finally, Tower Research Capital LLC TRC boosted its position in Latham Group by 501.3% during the second quarter. Tower Research Capital LLC TRC now owns 10,835 shares of the company's stock valued at $69,000 after buying an additional 9,033 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Latham Group Company Profile

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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