Scott Rajeski, the Chief Executive Officer of Latham Group, Inc. (NASDAQ:SWIM), recently executed a series of transactions involving the company's common stock. According to a filing with the Securities and Exchange Commission, Rajeski sold shares worth approximately $184,971, with sale prices ranging from $8.30 to $8.35 per share. The transaction comes as the stock has shown remarkable strength, posting gains of 195% over the past year and trading near its 52-week high of $8.41.
In addition to the sales, Rajeski acquired 20,000 shares through an exercise of stock appreciation rights at a price of $3.24 per share, amounting to a total value of $64,800. Following these transactions, Rajeski's direct ownership stands at 480,829 shares. According to InvestingPro data, the company maintains a GOOD Financial Health Score, though current valuations suggest the stock may be trading above its Fair Value.
These transactions highlight ongoing activity in Latham Group's stock by its top executive, offering insights into the company's internal financial movements. For deeper analysis of insider transactions and comprehensive financial metrics, InvestingPro subscribers can access detailed reports covering over 1,400 US stocks, including Latham Group.
In other recent news, Latham Group reported a decrease in net sales by 6.4% year-over-year to $150.5 million in Q3 2024, despite improved gross margins attributed to cost reduction initiatives. The acquisition of Coverstar Central is anticipated to bolster net sales and adjusted EBITDA margins. For the full year, the company projects net sales between $500 million and $510 million and adjusted EBITDA between $77 million and $83 million.
Craig-Hallum initiated coverage on Latham Group with a Buy rating, citing an industry shift from concrete to fiberglass pools as a potential boon for the company. The firm also indicated that Latham Group's streamlined cost structure could enhance earnings potential. In contrast, BofA Securities maintained an underperform rating for Latham Group, while raising the price target to $5.30.
The company is strategizing to increase fiberglass pool market penetration in key states, converting concrete pool dealers to fiberglass, adding new dealers, and enhancing existing dealer productivity. These recent developments suggest Latham Group is actively navigating market challenges and positioning itself for potential growth.
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