AlphaCrest Capital Management LLC Sells 34,695 Shares of Hayward Holdings, Inc. (NYSE:HAYW)

AlphaCrest Capital Management LLC lessened its stake in shares of Hayward Holdings, Inc. (NYSE:HAYW – Get Rating) by 29.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,321 shares of the company’s stock after selling 34,695 shares during the period. AlphaCrest Capital Management LLC’s holdings in Hayward were worth $721,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. CI Investments Inc. grew its stake in Hayward by 11.9% in the 2nd quarter. CI Investments Inc. now owns 419,700 shares of the company’s stock valued at $6,039,000 after buying an additional 44,600 shares during the last quarter. Synovus Financial Corp bought a new position in shares of Hayward in the second quarter worth about $273,000. Natixis acquired a new position in shares of Hayward during the 2nd quarter worth about $1,438,000. ExodusPoint Capital Management LP bought a new stake in Hayward during the 3rd quarter valued at approximately $91,000. Finally, CastleKnight Management LP bought a new stake in Hayward during the 2nd quarter valued at approximately $144,000. Institutional investors own 74.48% of the company’s stock.

Hayward Stock Performance

NYSE:HAYW opened at $11.81 on Wednesday. The firm has a market capitalization of $2.51 billion, a PE ratio of 15.54 and a beta of 0.98. The company has a quick ratio of 1.41, a current ratio of 2.63 and a debt-to-equity ratio of 0.89. Hayward Holdings, Inc. has a 12-month low of $7.97 and a 12-month high of $18.18. The firm has a 50-day moving average price of $12.36 and a 200 day moving average price of $10.59.

Insider Activity

In related news, major shareholder Alberta Investment Management sold 5,653,871 shares of the business’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $11.52, for a total value of $65,132,593.92. Following the sale, the insider now owns 17,247,765 shares of the company’s stock, valued at approximately $198,694,252.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Eifion Jones sold 7,459 shares of the firm’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $13.11, for a total transaction of $97,787.49. Following the completion of the sale, the chief financial officer now owns 175,282 shares of the company’s stock, valued at $2,297,947.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Alberta Investment Management sold 5,653,871 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $11.52, for a total value of $65,132,593.92. Following the completion of the transaction, the insider now directly owns 17,247,765 shares in the company, valued at $198,694,252.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,265,791 shares of company stock worth $83,795,211. Company insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

HAYW has been the subject of a number of research analyst reports. Credit Suisse Group upped their price target on Hayward from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, March 1st. BMO Capital Markets increased their price target on shares of Hayward from $10.00 to $12.00 and gave the company a “market perform” rating in a report on Thursday, March 2nd. Jefferies Financial Group upgraded shares of Hayward from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $9.50 to $15.00 in a report on Tuesday, January 3rd. KeyCorp increased their target price on shares of Hayward from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, March 1st. Finally, Morgan Stanley boosted their price target on Hayward from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.67.

Hayward Company 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.