Hayward Holdings (HAYW) Rebounded Above 50% in 2023

The London Company, an investment management company, released “The London Company SMID Cap Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund increased 15.2% (15% net) compared to a 13.4% gain for the Russell 2500 Index. The outperformance was due to both stock selection and sector exposure. The portfolio generated a solid relative and absolute performance in the fourth quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

The London Company SMID Cap Strategy featured stocks such as Hayward Holdings, Inc. (NYSE:HAYW) in the fourth quarter 2023 investor letter. Headquartered in Charlotte, North Carolina, Hayward Holdings, Inc. (NYSE:HAYW) manufactures and markets a portfolio of pool equipment and associated automation systems. On February 8, 2024, Hayward Holdings, Inc. (NYSE:HAYW) stock closed at $13.10 per share. One-month return of Hayward Holdings, Inc. (NYSE:HAYW) was 4.13%, and its shares gained 0.92% of their value over the last 52 weeks. Hayward Holdings, Inc. (NYSE:HAYW) has a market capitalization of $2.799 billion.

The London Company SMID Cap Strategy stated the following regarding Hayward Holdings, Inc. (NYSE:HAYW) in its fourth quarter 2023 investor letter:

“Exited: Hayward Holdings, Inc. (NYSE:HAYW) – We exited our position in HAYW following a rebound in 2023 (up 50% YTD), as we believe the company may face headwinds in the future and we have greater confidence in DAVA.”

A close-up of a pool with freshly applied chemicals, showing the efficacy of the company’s products.

Hayward Holdings, Inc. (NYSE:HAYW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Hayward Holdings, Inc. (NYSE:HAYW) at the end of third quarter which was 23 in the previous quarter.

We discussed Hayward Holdings, Inc. (NYSE:HAYW) in another article and shared Madison Small Cap Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.