Goldman Sachs Group Inc. Reduces Position in Hayward Holdings, Inc. $HAYW

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Hayward Holdings, Inc. by 12.3% in the first quarter, now owning approximately 0.20% of the company, valued at around $6.1 million.
• Other institutional investors, like Vanguard Group Inc. and Fiduciary Management Inc., have increased their positions, with Vanguard now owning nearly 20 million shares worth $278 million.
• Hayward reported a quarterly earnings per share of $0.24, surpassing analysts' expectations, with revenue up 5.3% year-over-year at $299.6 million.

Goldman Sachs Group Inc. reduced its stake in Hayward Holdings, Inc. (NYSE:HAYW - Free Report) by 12.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 439,431 shares of the company's stock after selling 61,347 shares during the quarter. Goldman Sachs Group Inc. owned 0.20% of Hayward worth $6,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cerity Partners LLC increased its position in shares of Hayward by 0.9% during the first quarter. Cerity Partners LLC now owns 99,195 shares of the company's stock valued at $1,381,000 after buying an additional 869 shares during the period. Pacer Advisors Inc. increased its position in shares of Hayward by 9.5% during the first quarter. Pacer Advisors Inc. now owns 11,165 shares of the company's stock valued at $155,000 after buying an additional 969 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Hayward by 2.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 59,018 shares of the company's stock valued at $822,000 after buying an additional 1,617 shares during the period. Merit Financial Group LLC increased its position in shares of Hayward by 10.0% during the first quarter. Merit Financial Group LLC now owns 20,685 shares of the company's stock valued at $288,000 after buying an additional 1,886 shares during the period. Finally, Jane Street Group LLC increased its position in shares of Hayward by 8.2% during the first quarter. Jane Street Group LLC now owns 38,064 shares of the company's stock valued at $530,000 after buying an additional 2,885 shares during the period.

Analyst Ratings Changes

Separately, Stifel Nicolaus upped their price target on Hayward from $17.50 to $18.00 and gave the company a "buy" rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Hayward has an average rating of "Hold" and an average price target of $17.50.

Insider Activity at Hayward

In related news, CFO Eifion Jones sold 20,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $16.50, for a total transaction of $330,000.00. Following the completion of the sale, the chief financial officer directly owned 287,231 shares in the company, valued at $4,739,311.50. This represents a 6.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kevin Holleran sold 60,571 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $15.27, for a total value of $924,919.17. Following the sale, the chief executive officer owned 623,540 shares of the company's stock, valued at $9,521,455.80. This represents a 8.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 156,142 shares of company stock worth $2,347,527 over the last three months. Insiders own 5.06% of the company's stock.

Hayward Price Performance

Shares of HAYW stock traded down $0.40 during trading on Friday, hitting $14.92. The company had a trading volume of 3,099,494 shares, compared to its average volume of 1,974,347. The company has a quick ratio of 2.06, a current ratio of 2.84 and a debt-to-equity ratio of 0.63. The stock's 50-day moving average is $15.53 and its two-hundred day moving average is $14.31. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 2.28 and a beta of 1.13. Hayward Holdings, Inc. has a 52 week low of $11.10 and a 52 week high of $16.87.

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

Hayward Company Profile

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.