Hayward Holdings, Inc. (NYSE:HAYW) President and CEO, Kevin Holleran, has recently engaged in significant trading activity involving the company's common stock. According to a new SEC filing, Holleran sold shares worth approximately $929,961.
The transactions, dated April 1, 2024, included the sale of 61,429 shares of Hayward Holdings at a weighted average price of $15.1388. The reported price range for these shares was between $15.00 and $15.305. In a display of transparency, Holleran has agreed to provide detailed information about the number of shares sold at each price point within the range if requested by the company, its shareholders, or the SEC.
In addition to the sale, Holleran also acquired the same number of shares through the exercise of options, with the transaction totaling $86,000 at a price of $1.4 per share. This move reflects the CEO's use of stock options, which are a common form of executive compensation.
Following these transactions, Holleran's direct holdings in Hayward Holdings have adjusted to 522,799 shares of common stock. It's also noted that the CEO has indirect ownership of an additional 2,100 shares held by his children.
Investors and market watchers often pay close attention to insider trading patterns for insights into executive confidence and company performance. The transactions by Hayward Holdings' CEO may draw particular interest given the scale of the stock sold.
Hayward Holdings, headquartered in Charlotte, North Carolina, operates within the refrigeration and service industry machinery sector. The company's business address and the reporting owner's address are both located at 1415 Vantage Park Drive, Suite 400, Charlotte, NC, 28203.
InvestingPro Insights
Amidst the recent insider trading activity by Hayward Holdings, Inc.'s CEO, Kevin Holleran, investors might seek additional context to understand the company's current financial standing. According to InvestingPro data, Hayward Holdings is currently trading at a high earnings multiple, with a P/E ratio of 38.73, indicating that the stock may be valued optimistically by the market relative to its earnings. This is supported by the adjusted P/E ratio for the last twelve months as of Q4 2023, which stands at 34.96.
The company's market capitalization is valued at approximately $3.17 billion, reflecting its position in the market. Despite a revenue decline of 24.48% over the last twelve months as of Q4 2023, the quarterly revenue growth for Q1 2023 shows a positive uptick of 7.53%. This recent growth could be a signal of a turnaround, aligning with the CEO's confidence as demonstrated by his recent stock option exercise.
InvestingPro Tips reveal that Hayward Holdings has liquid assets that exceed its short-term obligations, which may reassure investors of the company's financial health in the immediate future. Additionally, the company has been profitable over the last twelve months, with analysts predicting profitability to continue this year.
For those interested in a deeper dive into Hayward Holdings' financials and future outlook, InvestingPro offers additional insights. There are 6 more InvestingPro Tips available that could provide further guidance to investors. To access these, visit https://www.investing.com/pro/HAYW and don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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