Jennison Associates LLC Reduces Holdings in Hayward Holdings, Inc. (NYSE:HAYW)

Jennison Associates LLC decreased its position in shares of Hayward Holdings, Inc. (NYSE:HAYW) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,044,191 shares of the company’s stock after selling 519,973 shares during the quarter. Jennison Associates LLC owned 1.89% of Hayward worth $55,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. acquired a new stake in shares of Hayward during the fourth quarter worth about $37,000. Numerai GP LLC acquired a new stake in shares of Hayward during the third quarter worth about $146,000. Teacher Retirement System of Texas acquired a new position in Hayward in the third quarter valued at approximately $161,000. Everence Capital Management Inc. acquired a new position in Hayward in the fourth quarter valued at approximately $173,000. Finally, CIBC Asset Management Inc acquired a new position in Hayward in the third quarter valued at approximately $195,000.

Hayward Trading Up 2.0 %

Shares of HAYW stock opened at $13.71 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.02 and a quick ratio of 2.13. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 38.07 and a beta of 1.22. The stock has a 50 day simple moving average of $14.05 and a 200-day simple moving average of $12.98. Hayward Holdings, Inc. has a 1-year low of $9.80 and a 1-year high of $16.04.

Hayward (NYSE:HAYW) last announced its earnings results on Thursday, February 29th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. The business had revenue of $278.50 million during the quarter, compared to the consensus estimate of $271.47 million. Hayward had a return on equity of 9.55% and a net margin of 8.13%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS. On average, equities research analysts expect that Hayward Holdings, Inc. will post 0.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kevin Holleran sold 42,857 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $13.34, for a total transaction of $571,712.38. Following the completion of the sale, the chief executive officer now directly owns 522,799 shares in the company, valued at $6,974,138.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

HAYW has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price target on Hayward from $13.50 to $14.50 and gave the company a “hold” rating in a report on Tuesday, March 5th. Jefferies Financial Group downgraded Hayward from a “buy” rating to a “hold” rating and decreased their price target for the company from $15.00 to $14.00 in a report on Thursday, January 11th. TheStreet raised Hayward from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Finally, The Goldman Sachs Group boosted their price target on Hayward from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.70.

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.