Latham Group (NASDAQ:SWIM) Sees Unusually-High Trading Volume – Time to Buy?

Latham Group, Inc. (NASDAQ:SWIM) shares saw an uptick in trading volume on Tuesday . 4,586,210 shares changed hands during mid-day trading, an increase of 445% from the previous session’s volume of 840,751 shares.The stock last traded at $7.2660 and had previously closed at $6.65.

Wall Street Analysts Forecast Growth

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

Latham Group Trading Up 1.9%

The company has a 50 day simple moving average of $6.53 and a 200 day simple moving average of $7.08. The company has a current ratio of 2.43, a quick ratio of 1.72 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $807.29 million, a PE ratio of -69.19 and a beta of 1.72.

Institutional Investors Weigh In On Latham Group

Several hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in Latham Group by 216.4% in the 4th quarter. Wellington Management Group LLP now owns 6,749,349 shares of the company’s stock valued at $42,858,000 after buying an additional 4,616,367 shares during the period. Voss Capital LP boosted its holdings in shares of Latham Group by 11.0% in the second quarter. Voss Capital LP now owns 6,299,042 shares of the company’s stock valued at $40,188,000 after acquiring an additional 622,327 shares in the last quarter. Citadel Advisors LLC increased its stake in shares of Latham Group by 206.5% during the third quarter. Citadel Advisors LLC now owns 4,620,114 shares of the company’s stock worth $35,159,000 after acquiring an additional 3,112,708 shares during the period. Vanguard Group Inc. raised its holdings in Latham Group by 36.7% during the third quarter. Vanguard Group Inc. now owns 3,257,228 shares of the company’s stock worth $24,788,000 after purchasing an additional 873,903 shares in the last quarter. Finally, Wasatch Advisors LP lifted its position in Latham Group by 29.5% in the second quarter. Wasatch Advisors LP now owns 3,116,247 shares of the company’s stock valued at $19,882,000 after purchasing an additional 709,368 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

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.