Latham Group (NASDAQ:SWIM) Sees Large Volume Increase – Here’s Why

Latham Group, Inc. (NASDAQ:SWIM) saw strong trading volume on Tuesday . 4,586,210 shares were traded 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

A number of research firms have commented on SWIM. Weiss Ratings reissued a “sell (d)” rating on shares of Latham Group in a research report on Monday, December 29th. Barclays lowered their target price 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. Finally, Stifel Nicolaus set a $8.75 price target on Latham Group in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Latham Group presently has an average rating of “Sell” and a consensus target price of $7.19.

Latham Group Stock Performance

The stock has a market capitalization of $848.12 million, a price-to-earnings ratio of -72.69 and a beta of 1.72. 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 firm has a 50-day moving average of $6.50 and a 200-day moving average of $7.09.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SWIM. Empowered Funds LLC boosted its stake in shares of Latham Group by 7.4% during the 1st quarter. Empowered Funds LLC now owns 405,207 shares of the company’s stock worth $2,605,000 after acquiring an additional 27,916 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Latham Group by 27.1% during the 1st quarter. Jane Street Group LLC now owns 24,894 shares of the company’s stock valued at $160,000 after buying an additional 5,315 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in Latham Group by 94.2% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 48,345 shares of the company’s stock valued at $308,000 after acquiring an additional 23,452 shares during the period. Emerald Advisers LLC increased its holdings in Latham Group by 234.4% in the 2nd quarter. Emerald Advisers LLC now owns 982,337 shares of the company’s stock worth $6,267,000 after acquiring an additional 688,582 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its position in Latham Group by 231.9% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 642,554 shares of the company’s stock worth $4,099,000 after acquiring an additional 448,972 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 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.