Kevin Holleran, President and CEO of Hayward Holdings, Inc. (NYSE:HAYW), executed a significant stock transaction, selling 100,000 shares of the company. The shares were sold at an average price of $15.9617, amounting to a total transaction value of approximately $1.6 million. This sale was part of a series of transactions on November 11, 2024.
Prior to this sale, Holleran acquired 100,000 shares of common stock through an option exercise at a price of $1.40 per share. Following these transactions, Holleran's direct ownership in Hayward Holdings stands at 522,799 shares. Additionally, Holleran holds indirect ownership of 700 shares each, by three children.
These transactions were carried out under a pre-arranged trading plan, affirming Holleran's ongoing involvement and investment in the company.
In other recent news, Hayward Holdings reported a successful third quarter in 2024, with a 3% increase in net sales, reaching $228 million. The company's acquisition of ChlorKing and the launch of innovative products significantly contributed to this growth. Adjusted EBITDA rose by 8% to $51 million, and the gross profit margin expanded to 49.7%. Despite a sales decline in Europe and other global markets, North America saw a 5% sales increase. The full-year guidance was raised, with net sales projected to grow by 3% to 5% and adjusted EBITDA by 5% to 9%. These recent developments reflect Hayward Holdings' strategic focus on the aftermarket segment and customer experience enhancements. The company also demonstrated efficient capital allocation strategies, positioning itself for continued growth amid economic challenges. It's important to note that these are analyst projections and actual results may vary.
InvestingPro Insights
Following Kevin Holleran's recent stock transactions, it's worth examining Hayward Holdings' current financial position and market performance. According to InvestingPro data, Hayward Holdings boasts a market capitalization of $3.42 billion, reflecting its significant presence in the industry.
The company's financial health appears robust, with impressive gross profit margins of 49.84% for the last twelve months as of Q3 2023. This aligns with one of the InvestingPro Tips, which highlights Hayward's "impressive gross profit margins." This strong profitability metric suggests efficient cost management and pricing power in the market.
Another relevant InvestingPro Tip indicates that Hayward is "trading at a low P/E ratio relative to near-term earnings growth." This is supported by the company's PEG ratio of 0.89, which suggests that the stock may be undervalued relative to its expected growth. This could be particularly interesting for investors in light of Holleran's recent stock transactions.
It's also noteworthy that Hayward's revenue for the last twelve months as of Q3 2023 stood at $1.003 billion, with a revenue growth of 3.09% over the same period. This modest growth, combined with the company's strong profitability metrics, paints a picture of a stable and potentially undervalued company.
For investors seeking more comprehensive insights, InvestingPro offers additional tips and metrics. In fact, there are 10 more InvestingPro Tips available for Hayward Holdings, providing a deeper understanding of the company's financial position and market outlook.
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