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

Shares of Latham Group, Inc. (NASDAQ:SWIM) saw strong trading volume on Tuesday . 4,586,210 shares were traded during 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 Analyst Weigh In

A number of equities research analysts have commented on SWIM shares. Barclays decreased their target price on shares of Latham Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Latham Group in a report on Monday, December 29th. Finally, Stifel Nicolaus set a $8.75 price target on Latham Group in a report on Wednesday, November 5th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Latham Group has a consensus rating of “Sell” and an average target price of $7.19.

Latham Group Stock Performance

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 business has a 50 day moving average price of $6.50 and a 200 day moving average price of $7.09. The stock has a market cap of $848.12 million, a P/E ratio of -72.69 and a beta of 1.72.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in Latham Group during the 4th quarter valued at about $97,000. Wellington Management Group LLP raised its stake in shares of Latham Group by 216.4% during the fourth quarter. Wellington Management Group LLP now owns 6,749,349 shares of the company’s stock valued at $42,858,000 after acquiring an additional 4,616,367 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Latham Group in the fourth quarter valued at approximately $207,000. Millennium Management LLC boosted its holdings in shares of Latham Group by 124.0% in the fourth quarter. Millennium Management LLC now owns 151,710 shares of the company’s stock valued at $963,000 after purchasing an additional 83,990 shares during the period. Finally, Man Group plc bought a new position in Latham Group in the fourth quarter worth approximately $118,000. 83.95% of the stock is currently owned by institutional investors.

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.