Latham Group (NASDAQ:SWIM) Stock Price Down 3.6% – Time to Sell?

Latham Group, Inc. (NASDAQ:SWIM) shares were down 3.6% during mid-day trading on Monday . The stock traded as low as $6.61 and last traded at $6.65. Approximately 787,198 shares were traded during mid-day 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

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

Latham Group Trading Down 3.6%

The business has a 50 day moving average of $6.50 and a 200 day moving average of $7.09. The firm has a market capitalization of $775.79 million, a price-to-earnings ratio of -66.49 and a beta of 1.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.43 and a quick ratio of 1.72.

Institutional Trading of Latham Group

A number of institutional investors and hedge funds have recently modified their holdings of SWIM. Farther Finance Advisors LLC acquired a new stake in Latham Group during the 3rd quarter worth approximately $28,000. BNP Paribas Financial Markets increased its position in shares of Latham Group by 83.9% during the second quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company’s stock worth $27,000 after acquiring an additional 1,921 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Latham Group during the second quarter worth $29,000. Covestor Ltd lifted its position in Latham Group by 153.0% in the 4th quarter. Covestor Ltd now owns 5,576 shares of the company’s stock valued at $35,000 after acquiring an additional 3,372 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Latham Group in the 3rd quarter valued at $47,000. 83.95% of the stock is owned by institutional investors.

Latham Group Company Profile

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.