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

Leslie’s, Inc. (NASDAQ:LESL) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 19,100,000 shares, a drop of 16.2% from the November 30th total of 22,790,000 shares. Approximately 10.8% of the shares of the company are sold short. Based on an average daily trading volume, of 5,580,000 shares, the short-interest ratio is currently 3.4 days.

Leslie’s Stock Performance

Shares of LESL stock traded down $0.07 during midday trading on Monday, reaching $2.16. 1,617,231 shares of the company were exchanged, compared to its average volume of 4,581,105. The company’s 50 day moving average price is $2.64 and its two-hundred day moving average price is $3.00. The company has a market cap of $399.53 million, a P/E ratio of -18.00 and a beta of 1.12. Leslie’s has a 12 month low of $2.02 and a 12 month high of $8.21.

Leslie’s (NASDAQ:LESL) last released its earnings results on Monday, November 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.09). Leslie’s had a negative return on equity of 6.11% and a negative net margin of 1.76%. The firm had revenue of $397.90 million for the quarter, compared to analyst estimates of $405.19 million. During the same period in the previous year, the firm earned $0.14 earnings per share. Leslie’s’s revenue was down 8.0% on a year-over-year basis. As a group, sell-side analysts predict that Leslie’s will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ariel Investments LLC lifted its position in shares of Leslie’s by 46.5% during the 2nd quarter. Ariel Investments LLC now owns 36,601,368 shares of the company’s stock valued at $153,360,000 after acquiring an additional 11,618,490 shares during the last quarter. Private Management Group Inc. lifted its holdings in shares of Leslie’s by 121.3% during the third quarter. Private Management Group Inc. now owns 5,569,278 shares of the company’s stock valued at $17,599,000 after purchasing an additional 3,052,539 shares during the last quarter. Weiss Asset Management LP acquired a new position in shares of Leslie’s in the 3rd quarter valued at $6,470,000. Squarepoint Ops LLC boosted its position in shares of Leslie’s by 1,300.5% in the 2nd quarter. Squarepoint Ops LLC now owns 1,187,916 shares of the company’s stock valued at $4,977,000 after purchasing an additional 1,103,096 shares during the period. Finally, Marshall Wace LLP increased its stake in Leslie’s by 477.4% in the 2nd quarter. Marshall Wace LLP now owns 1,110,404 shares of the company’s stock worth $4,653,000 after purchasing an additional 918,084 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Telsey Advisory Group reduced their price target on shares of Leslie’s from $4.00 to $3.75 and set a “market perform” rating for the company in a report on Tuesday, November 26th. William Blair reissued a “market perform” rating on shares of Leslie’s in a research note on Tuesday, November 26th. Finally, Robert W. Baird dropped their price target on shares of Leslie’s from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Leslie’s has a consensus rating of “Hold” and a consensus target price of $3.61.

Leslie’s Company Profile

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.