Leslie’s, Inc. (NASDAQ:LESL) Short Interest Update

Leslie’s, Inc. (NASDAQ:LESL) was the recipient of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 1,846,492 shares, a growth of 54.0% from the July 30th total of 1,199,205 shares. Based on an average daily volume of 2,634,539 shares, the short-interest ratio is currently 0.7 days. Approximately 19.8% of the company’s shares are short sold.

Leslie’s Trading Up 7.8%

NASDAQ LESL traded up $0.04 on Wednesday, hitting $0.54. 51,630 shares of the company were exchanged, compared to its average volume of 858,643. Leslie’s has a 1-year low of $0.50 and a 1-year high of $12.53. The firm has a 50 day moving average of $3.21 and a two-hundred day moving average of $2.83. The company has a market cap of $5.08 million, a P/E ratio of -0.02 and a beta of 1.69.

Leslie’s (NASDAQ:LESL) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $3.96 EPS for the quarter, missing analysts’ consensus estimates of $4.86 by ($0.90). The company had revenue of $458.49 million during the quarter, compared to analysts’ expectations of $503.22 million.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Leslie’s from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Weiss Ratings raised shares of Leslie’s from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 18th. 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 report on Thursday, May 14th. Finally, Mizuho reduced their price target on shares of Leslie’s from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Leslie’s presently has a consensus rating of “Reduce” and an average target price of $2.85.

Institutional Trading of Leslie’s

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its stake in Leslie’s by 923.6% in the first quarter. AQR Capital Management LLC now owns 1,254,176 shares of the company’s stock valued at $922,000 after acquiring an additional 1,131,647 shares during the last quarter. Jane Street Group LLC boosted 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 purchasing an additional 1,224,115 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Leslie’s in the second quarter valued at about $229,000. Marshall Wace LLP grew its position in shares of Leslie’s by 732.6% during the 2nd quarter. Marshall Wace LLP now owns 421,280 shares of the company’s stock worth $177,000 after purchasing an additional 370,680 shares in the last quarter. Finally, Cerity Partners LLC grew its position in Leslie’s by 269.7% during the second quarter. Cerity Partners LLC now owns 276,532 shares of the company’s stock worth $116,000 after buying an additional 201,731 shares in the last quarter.

Leslie’s Company Profile

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.