Adage Capital Partners GP L.L.C. Invests $7.12 Million in Hayward Holdings, Inc. $HAYW

Key Points

• Adage Capital Partners GP L.L.C. acquired a new stake in Hayward Holdings, purchasing 511,379 shares worth approximately $7.12 million, representing around 0.24% of the company.
• Hayward reported an earnings per share (EPS) of $0.24 for the last quarter, exceeding analysts' expectations, with a year-over-year revenue increase of 5.3%.
• CEO Kevin Holleran sold 60,571 shares recently, indicating an 8.85% decrease in his ownership stake, as corporate insiders continue to make stock transactions.

Adage Capital Partners GP L.L.C. acquired a new position in Hayward Holdings, Inc. (NYSE:HAYW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 511,379 shares of the company's stock, valued at approximately $7,118,000. Adage Capital Partners GP L.L.C. owned about 0.24% of Hayward at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its stake in shares of Hayward by 4.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 33,680 shares of the company's stock worth $515,000 after purchasing an additional 1,550 shares during the period. Northern Trust Corp increased its holdings in Hayward by 6.8% during the fourth quarter. Northern Trust Corp now owns 1,691,769 shares of the company's stock worth $25,867,000 after buying an additional 108,337 shares during the last quarter. Comerica Bank raised its position in Hayward by 3.3% in the fourth quarter. Comerica Bank now owns 70,719 shares of the company's stock worth $1,081,000 after acquiring an additional 2,279 shares during the period. Jane Street Group LLC purchased a new position in Hayward in the fourth quarter valued at about $538,000. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Hayward by 71.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,671 shares of the company's stock valued at $316,000 after acquiring an additional 8,607 shares during the period.

Insider Buying and Selling

In other news, CFO Eifion Jones sold 20,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $16.50, for a total transaction of $330,000.00. Following the completion of the transaction, the chief financial officer directly owned 287,231 shares in the company, valued at $4,739,311.50. The trade was a 6.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin Holleran sold 60,571 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $15.27, for a total value of $924,919.17. Following the completion of the sale, the chief executive officer owned 623,540 shares in the company, valued at $9,521,455.80. This trade represents a 8.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,142 shares of company stock worth $2,347,527 in the last ninety days. 5.06% of the stock is currently owned by insiders.

Hayward Stock Performance

Shares of NYSE HAYW traded down $0.46 during mid-day trading on Friday, hitting $15.61. The company had a trading volume of 1,399,412 shares, compared to its average volume of 1,978,288. Hayward Holdings, Inc. has a 1 year low of $11.10 and a 1 year high of $16.87. The stock's 50-day moving average price is $15.47 and its 200-day moving average price is $14.29. The company has a current ratio of 2.84, a quick ratio of 2.06 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 26.91, a P/E/G ratio of 2.43 and a beta of 1.13.

Hayward (NYSE:HAYW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. Hayward had a return on equity of 11.07% and a net margin of 12.04%.The firm had revenue of $299.60 million for the quarter, compared to analysts' expectations of $291.17 million. During the same period in the prior year, the business posted $0.21 earnings per share. The company's revenue was up 5.3% on a year-over-year basis. Hayward has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Hayward Holdings, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lifted their price target on shares of Hayward from $17.50 to $18.00 and gave the stock a "buy" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $17.50.

About Hayward

Hayward Holdings, Inc designs, manufactures, and markets a portfolio of pool equipment and associated automation systems in North America, Europe, and internationally. The company offers pool equipment, including pumps, filters, robotics, suction and pressure cleaners, gas heaters and heat pumps, water features and landscape lighting, water sanitizers, salt chlorine generators, safety equipment, and in-floor automated cleaning systems, as well as LED illumination solutions.