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

Leslie’s, Inc. (NASDAQ:LESL) was the recipient of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 1,075,973 shares, a decline of 38.7% from the May 14th total of 1,754,995 shares. Approximately 11.6% of the company’s shares are short sold. Based on an average trading volume of 498,668 shares, the short-interest ratio is currently 2.2 days.

Leslie’s Stock Performance

Shares of Leslie’s stock opened at $7.97 on Monday. The company has a fifty day moving average price of $2.90 and a 200 day moving average price of $2.06. Leslie’s has a twelve month low of $0.87 and a twelve month high of $13.57. The stock has a market cap of $74.60 million, a price-to-earnings ratio of -0.27 and a beta of 1.93.

Leslie’s (NASDAQ:LESL) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($5.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.41) by ($0.95). The company had revenue of $184.74 million for the quarter, compared to analysts’ expectations of $162.48 million. Analysts forecast that Leslie’s will post -2.73 earnings per share for the current year.

Hedge Funds Weigh In On Leslie’s

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. purchased a new position in Leslie’s in the 1st quarter valued at about $61,000. Performa Ltd US LLC boosted its position in Leslie’s by 27.5% in the 1st quarter. Performa Ltd US LLC now owns 148,000 shares of the company’s stock valued at $166,000 after buying an additional 31,900 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Leslie’s in the 4th quarter valued at about $34,000. Barclays PLC purchased a new position in Leslie’s in the 4th quarter valued at about $35,000. Finally, Clearfield Capital Management LP boosted its position in Leslie’s by 520.5% in the 4th quarter. Clearfield Capital Management LP now owns 191,575 shares of the company’s stock valued at $316,000 after buying an additional 160,703 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LESL. Wolfe Research reissued an “outperform” rating and set a $3.00 price objective (up from $2.00) on shares of Leslie’s in a research note on Thursday, May 14th. Wall Street Zen raised shares of Leslie’s from a “sell” rating to a “hold” rating in a research note on Sunday. Morgan Stanley set a $1.00 price objective on shares of Leslie’s and gave the company an “underweight” rating in a research note on Wednesday, February 18th. Zacks Research raised shares of Leslie’s from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Finally, Mizuho lowered their price objective on shares of Leslie’s from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $2.85.

About Leslie’s

Leslie’s, Inc (NASDAQ: LESL) is the largest direct-to-consumer retailer of swimming pool supplies and related equipment in the United States. Through a network of more than 900 company-operated stores and a robust e-commerce platform, the company offers a comprehensive range of pool chemicals, cleaning tools, pumps, filters, heaters and pool accessories. In addition to product retailing, Leslie’s provides in-store and in-home water testing services, equipment installation, repair and ongoing maintenance programs designed to support both residential and commercial pool owners.

Founded in 1963 in North Miami Beach, Florida, Leslie’s has grown from a single neighborhood pool-supply shop into a national specialty retailer.