Private Management Group Inc. Increases Stock Holdings in Leslie’s, Inc. (NASDAQ:LESL)

Private Management Group Inc. raised its stake in Leslie’s, Inc. (NASDAQ:LESL) by 121.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,569,278 shares of the company’s stock after purchasing an additional 3,052,539 shares during the quarter. Private Management Group Inc.’s holdings in Leslie’s were worth $17,599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Leslie’s in the 2nd quarter valued at approximately $26,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Leslie’s in the 3rd quarter valued at approximately $32,000. Blue Trust Inc. lifted its holdings in shares of Leslie’s by 1,089.6% in the 3rd quarter. Blue Trust Inc. now owns 11,075 shares of the company’s stock valued at $35,000 after buying an additional 10,144 shares during the period. Covestor Ltd lifted its holdings in shares of Leslie’s by 32,510.0% in the 1st quarter. Covestor Ltd now owns 6,522 shares of the company’s stock valued at $42,000 after buying an additional 6,502 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Leslie’s in the 2nd quarter valued at approximately $55,000.

Analyst Ratings Changes

Several analysts have recently commented on the company. Stifel Nicolaus cut Leslie’s from a “hold” rating to a “sell” rating and reduced their price target for the company from $5.25 to $2.50 in a report on Thursday, July 18th. Loop Capital reduced their price objective on Leslie’s from $6.00 to $3.00 and set a “hold” rating for the company in a report on Friday, July 19th. Piper Sandler reduced their price objective on Leslie’s from $6.00 to $3.00 and set a “neutral” rating for the company in a report on Thursday, July 18th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $4.00 price objective on shares of Leslie’s in a report on Tuesday, August 27th. Finally, Jefferies Financial Group reduced their price objective on Leslie’s from $5.00 to $4.00 and set a “hold” rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.96.

Leslie’s Trading Up 5.2 %

Shares of NASDAQ LESL traded up $0.14 during trading on Friday, reaching $2.83. The company had a trading volume of 3,570,301 shares, compared to its average volume of 4,257,615. Leslie’s, Inc. has a twelve month low of $2.42 and a twelve month high of $8.21. The stock has a market capitalization of $523.30 million, a PE ratio of 141.50, a price-to-earnings-growth ratio of 1.98 and a beta of 1.17. The stock has a 50-day moving average price of $2.84 and a two-hundred day moving average price of $3.67.

Leslie’s (NASDAQ:LESL) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Leslie’s had a negative return on equity of 6.11% and a net margin of 0.22%. The company had revenue of $569.64 million during the quarter, compared to analysts’ expectations of $569.99 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, sell-side analysts predict that Leslie’s, Inc. will post 0.04 EPS for the current year.

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.