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

Leslie’s, Inc. (NASDAQ:LESL) 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. Approximately 9.0% of the shares of the company are short sold. Based on an average daily volume of 6,910,000 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analyst Weigh In

LESL has been the subject of a number of research analyst reports. Robert W. Baird set a $3.00 price target on shares of Leslie’s in a report on Tuesday, February 4th. 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 research note on Tuesday, February 18th. Morgan Stanley dropped their price target on Leslie’s from $3.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group cut their price objective on Leslie’s from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Finally, Guggenheim restated a “neutral” rating on shares of Leslie’s in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to MarketBeat.com, Leslie’s currently has a consensus rating of “Hold” and a consensus target price of $2.65.

Institutional Inflows and Outflows

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

Leslie’s Stock Up 5.8 %

Shares of LESL opened at $0.58 on Friday. The stock has a fifty day simple moving average of $0.95 and a two-hundred day simple moving average of $1.96. The company has a market capitalization of $106.86 million, a PE 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) last posted its earnings results on Thursday, February 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Leslie’s had a negative net margin of 2.13% and a negative return on equity of 6.11%.

About Leslie’s

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.