Leslie’s, Inc. (NASDAQ:LESL) Sees Significant Drop in Short Interest

by · The Cerbat Gem

Leslie’s, Inc. (NASDAQ:LESL – Get Free Report) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 16,050,000 shares, a decline of 27.2% from the March 15th total of 22,040,000 shares. Based on an average trading volume of 6,910,000 shares, the short-interest ratio is currently 2.3 days. Approximately 9.0% of the company’s stock are sold short.

Institutional Trading of Leslie’s

Institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Leslie’s by 106.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 37,279 shares of the company’s stock worth $27,000 after purchasing an additional 19,257 shares during the last quarter. Lind Value II ApS raised its stake in Leslie’s by 97.7% in the first quarter. Lind Value II ApS now owns 9,092,401 shares of the company’s stock valued at $6,687,000 after buying an additional 4,492,185 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Leslie’s by 13.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 461,502 shares of the company’s stock worth $1,029,000 after acquiring an additional 55,701 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Leslie’s during the fourth quarter worth about $39,000. Finally, Two Sigma Investments LP increased its holdings in shares of Leslie’s by 297.7% during the fourth quarter. Two Sigma Investments LP now owns 474,875 shares of the company’s stock valued at $1,059,000 after acquiring an additional 355,474 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have commented on the company. Bank of America lowered Leslie’s from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $2.65 to $1.40 in a report on Tuesday, February 18th. Mizuho dropped their price target on shares of Leslie’s from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Guggenheim restated a “neutral” rating on shares of Leslie’s in a research report on Friday, February 7th. Stifel Nicolaus cut their target price on shares of Leslie’s from $1.90 to $1.55 and set a “sell” rating for the company in a research report on Friday, February 7th. Finally, Robert W. Baird set a $3.00 price target on Leslie’s in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.65.

Get Our Latest Report on Leslie’s

Leslie’s Stock Performance

NASDAQ LESL traded up $0.03 on Friday, hitting $0.58. 1,636,114 shares of the stock were exchanged, compared to its average volume of 5,658,003. The stock has a fifty day moving average price of $0.92 and a two-hundred day moving average price of $1.94. The firm has a market capitalization of $106.86 million, a P/E ratio of -3.85 and a beta of 1.30. Leslie’s has a 52-week low of $0.51 and a 52-week high of $6.02.

Leslie’s (NASDAQ:LESL – Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Leslie’s had a negative return on equity of 6.11% and a negative net margin of 2.13%.

About Leslie’s

(Get Free Report)

Leslie’s, Inc operates as a direct-to-consumer pool and spa care brand in the United States. The company markets and sells pool and spa supplies and related products and services. It also offers various pool and spa maintenance items, such as chemicals, equipment and parts, cleaning and maintenance equipment, safety, recreational, and fitness related products.

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