Comerica Bank Lowers Stock Position in Hayward Holdings, Inc. (NYSE:HAYW)

Comerica Bank trimmed its holdings in shares of Hayward Holdings, Inc. (NYSE:HAYWGet Rating) by 42.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,397 shares of the company’s stock after selling 91,739 shares during the period. Comerica Bank owned about 0.06% of Hayward worth $1,038,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HAYW. Advisor Group Holdings Inc. raised its position in Hayward by 16.7% in the first quarter. Advisor Group Holdings Inc. now owns 12,876 shares of the company’s stock worth $212,000 after acquiring an additional 1,844 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Hayward by 14.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 15,596 shares of the company’s stock valued at $224,000 after purchasing an additional 1,957 shares in the last quarter. Summit Global Investments lifted its stake in shares of Hayward by 25.6% in the second quarter. Summit Global Investments now owns 28,000 shares of the company’s stock valued at $403,000 after purchasing an additional 5,700 shares during the period. Credit Suisse AG grew its position in Hayward by 1.2% during the second quarter. Credit Suisse AG now owns 529,384 shares of the company’s stock worth $7,617,000 after buying an additional 6,163 shares during the period. Finally, Arizona State Retirement System increased its holdings in Hayward by 65.2% in the second quarter. Arizona State Retirement System now owns 20,723 shares of the company’s stock valued at $298,000 after buying an additional 8,176 shares in the last quarter. 74.48% of the stock is owned by institutional investors and hedge funds.

Hayward Trading Down 0.9 %

Shares of HAYW opened at $12.84 on Wednesday. Hayward Holdings, Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $20.13. The company has a market capitalization of $2.71 billion, a PE ratio of 13.52 and a beta of 0.59. The stock has a fifty day moving average of $10.18 and a two-hundred day moving average of $10.55. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.09 and a current ratio of 2.45.

Hayward (NYSE:HAYWGet Rating) last released its earnings results on Tuesday, November 1st. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $245.27 million for the quarter, compared to the consensus estimate of $242.11 million. Hayward had a return on equity of 20.10% and a net margin of 16.13%. As a group, analysts forecast that Hayward Holdings, Inc. will post 0.98 EPS for the current year.

Insider Buying and Selling

In related news, CFO Eifion Jones sold 52,541 shares of the company’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $13.07, for a total transaction of $686,710.87. Following the completion of the transaction, the chief financial officer now owns 175,282 shares of the company’s stock, valued at $2,290,935.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Eifion Jones sold 52,541 shares of the business’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $13.07, for a total transaction of $686,710.87. Following the completion of the sale, the chief financial officer now directly owns 175,282 shares of the company’s stock, valued at approximately $2,290,935.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Alberta Investment Management sold 2,826,936 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $9.86, for a total value of $27,873,588.96. Following the sale, the insider now owns 22,901,636 shares of the company’s stock, valued at $225,810,130.96. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

HAYW has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price target on Hayward from $10.50 to $12.00 and gave the stock a “neutral” rating in a research note on Monday. Jefferies Financial Group raised shares of Hayward from a “hold” rating to a “buy” rating and increased their price objective for the company from $9.50 to $15.00 in a research note on Tuesday, January 3rd. Bank of America downgraded shares of Hayward from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $14.00 to $8.00 in a report on Tuesday, October 18th. KeyCorp dropped their price objective on shares of Hayward from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, October 13th. Finally, Stifel Nicolaus started coverage on Hayward in a research report on Monday, December 12th. They set a “buy” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.00.

Hayward Profile

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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 residential and commercial pool equipment, including pumps, filters, heaters, automatic pool cleaners, LED lighting, Internet of things enabled controls, alternate sanitizers, and water features.

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Institutional Ownership by Quarter for Hayward (NYSE:HAYW)

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