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

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

Leslie’s Price Performance

Leslie’s stock opened at $7.97 on Monday. The firm has a 50 day simple moving average of $2.90 and a 200-day simple moving average of $2.06. The stock has a market capitalization of $74.60 million, a PE ratio of -0.27 and a beta of 1.93. Leslie’s has a 12-month low of $0.87 and a 12-month high of $13.57.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LESL. Weiss Ratings restated a “sell (e+)” rating on shares of Leslie’s in a research note on Wednesday, March 25th. Mizuho cut their target price on shares of Leslie’s from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Wolfe Research restated an “outperform” rating and issued a $3.00 target price (up from $2.00) on shares of Leslie’s in a research note on Thursday, May 14th. Morgan Stanley set a $1.00 price objective on shares of Leslie’s and gave the company an “underweight” rating in a research report on Wednesday, February 18th. Finally, Wall Street Zen raised shares of Leslie’s from a “sell” rating to a “hold” rating in a research report on Sunday. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $2.85.

Institutional Investors Weigh In On Leslie’s

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of Leslie’s by 923.6% during the 1st quarter. AQR Capital Management LLC now owns 1,254,176 shares of the company’s stock worth $922,000 after purchasing an additional 1,131,647 shares during the last quarter. Jane Street Group LLC grew its stake in Leslie’s by 123.7% in the 1st quarter. Jane Street Group LLC now owns 2,213,776 shares of the company’s stock valued at $1,628,000 after buying an additional 1,224,115 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Leslie’s in the 2nd quarter valued at $229,000. Marshall Wace LLP boosted its holdings in Leslie’s by 732.6% in the 2nd quarter. Marshall Wace LLP now owns 421,280 shares of the company’s stock valued at $177,000 after purchasing an additional 370,680 shares during the period. Finally, Cerity Partners LLC boosted its holdings in Leslie’s by 269.7% in the 2nd quarter. Cerity Partners LLC now owns 276,532 shares of the company’s stock valued at $116,000 after purchasing an additional 201,731 shares during the period.

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.