Latham Group (NASDAQ:SWIM) Trading Down 3.6% – Here’s Why

Shares of Latham Group, Inc. (NASDAQ:SWIM) dropped 3.6% during mid-day trading on Monday . The company traded as low as $6.61 and last traded at $6.65. Approximately 787,198 shares changed hands during trading, an increase of 35% from the average daily volume of 583,966 shares. The stock had previously closed at $6.90.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SWIM shares. Barclays reduced their price objective on Latham Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Stifel Nicolaus set a $8.75 price target on Latham Group in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Latham Group in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Sell” and a consensus target price of $7.19.

Latham Group Stock Down 3.6%

The firm has a fifty day moving average of $6.50 and a 200-day moving average of $7.09. The company has a quick ratio of 1.72, a current ratio of 2.43 and a debt-to-equity ratio of 0.68. The firm has a market cap of $775.79 million, a P/E ratio of -66.49 and a beta of 1.72.

Institutional Investors Weigh In On Latham Group

Several large investors have recently made changes to their positions in SWIM. BNP Paribas Financial Markets raised its position in shares of Latham Group by 83.9% in the second quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company’s stock valued at $27,000 after purchasing an additional 1,921 shares during the period. Farther Finance Advisors LLC bought a new position in Latham Group in the 3rd quarter valued at about $28,000. Raymond James Financial Inc. bought a new position in Latham Group in the 2nd quarter valued at about $29,000. Covestor Ltd lifted its position in Latham Group by 153.0% during the fourth quarter. Covestor Ltd now owns 5,576 shares of the company’s stock worth $35,000 after acquiring an additional 3,372 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Latham Group during the third quarter worth approximately $47,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

About Latham Group

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.