Synovus Financial Corp Makes New Investment in Hayward Holdings, Inc. (NYSE:HAYW)

Synovus Financial Corp purchased a new position in Hayward Holdings, Inc. (NYSE:HAYWGet Rating) during the second quarter, HoldingsChannel reports. The institutional investor purchased 18,869 shares of the company’s stock, valued at approximately $273,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brinker Capital Investments LLC acquired a new stake in Hayward in the 2nd quarter worth about $310,000. US Bancorp DE lifted its stake in shares of Hayward by 75.6% in the 2nd quarter. US Bancorp DE now owns 69,482 shares of the company’s stock valued at $1,000,000 after purchasing an additional 29,914 shares in the last quarter. Fiera Capital Corp lifted its stake in shares of Hayward by 52.5% in the 1st quarter. Fiera Capital Corp now owns 918,838 shares of the company’s stock valued at $15,271,000 after purchasing an additional 316,335 shares in the last quarter. River & Mercantile Asset Management LLP lifted its stake in shares of Hayward by 29.5% in the 1st quarter. River & Mercantile Asset Management LLP now owns 275,700 shares of the company’s stock valued at $4,584,000 after purchasing an additional 62,800 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of Hayward by 71.2% in the 2nd quarter. Kovitz Investment Group Partners LLC now owns 1,564,350 shares of the company’s stock valued at $22,511,000 after purchasing an additional 650,330 shares in the last quarter. 74.02% of the stock is owned by institutional investors and hedge funds.

Hayward Stock Performance

Shares of NYSE:HAYW opened at $9.55 on Monday. The company has a market cap of $2.02 billion, a P/E ratio of 10.05 and a beta of 0.62. 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 Holdings, Inc. has a one year low of $7.97 and a one year high of $28.03. The business’s 50-day simple moving average is $9.41 and its 200 day simple moving average is $12.05.

Insider Activity at Hayward

In related news, major shareholder Alberta Investment Management sold 2,826,936 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $9.86, for a total transaction of $27,873,588.96. Following the sale, the insider now directly owns 22,901,636 shares in the company, valued at approximately $225,810,130.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group reduced their price objective on Hayward from $12.00 to $10.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 2nd. Credit Suisse Group lowered Hayward from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $9.00 in a research note on Friday, October 14th. KeyCorp reduced their price objective on Hayward from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, October 13th. Morgan Stanley reduced their price objective on Hayward from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 12th. Finally, Bank of America lowered Hayward from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $14.00 to $8.00 in a research note on Tuesday, October 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.50.

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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