Kevin Holleran, President and CEO of Hayward Holdings, Inc. (NYSE:HAYW), recently executed a significant transaction involving the company's stock. On December 2, Holleran sold 50,000 shares of Hayward Holdings' common stock, netting approximately $799,140. The shares were sold at a weighted average price of $15.9828, with individual transactions ranging from $15.88 to $16.075. The sale occurred near the stock's 52-week high of $16.87, with the company showing strong momentum through a 17.5% year-to-date return. According to InvestingPro analysis, the stock currently trades at a premium to its Fair Value.
In addition to the sale, Holleran exercised stock options to acquire 50,000 shares at a price of $1.40 per share, reflecting a total value of $70,000. Following these transactions, Holleran's direct ownership in the company stands at 522,799 shares.
These movements come as part of Holleran's ongoing management of his equity holdings in the company, which is known for its refrigeration and service industry machinery.
In other recent news, Hayward Holdings displayed a robust financial performance in its recent quarterly earnings report. The renowned pool equipment manufacturer reported a 3% increase in net sales, amounting to $228 million. This growth was significantly influenced by the acquisition of ChlorKing and the launch of innovative products. The company's adjusted EBITDA also saw an 8% rise, reaching $51 million, while the gross profit margin expanded to 49.7%.
Despite a decline in Europe and other global markets, North America demonstrated a 5% sales increase. This positive performance led Hayward Holdings to raise its full-year guidance, projecting net sales growth of 3% to 5% and adjusted EBITDA growth of 5% to 9%. The company's focus on the aftermarket segment and customer experience enhancements, coupled with efficient capital allocation strategies, positions it for continued growth in a challenging economic environment. These are just a few of the recent developments at Hayward Holdings.
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