Leslie’s, Inc. (NASDAQ:LESL) Short Interest Up 54.0% in August

Leslie’s, Inc. (NASDAQ:LESL) was the target of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 1,846,492 shares, an increase 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 presently 0.7 days. Currently, 19.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wolfe Research reiterated 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. Weiss Ratings upgraded Leslie’s from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. Mizuho lowered their price objective on Leslie’s from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Finally, Wall Street Zen lowered shares of Leslie’s from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Leslie’s presently has a consensus rating of “Reduce” and an average price target of $2.85.

Leslie’s Price Performance

Shares of LESL traded down $0.00 during mid-day trading on Tuesday, reaching $0.51. The company’s stock had a trading volume of 90,511 shares, compared to its average volume of 861,880. Leslie’s has a 12-month low of $0.50 and a 12-month high of $12.53. The company’s 50 day moving average is $3.40 and its 200 day moving average is $2.83. The stock has a market cap of $4.80 million, a PE ratio of -0.02 and a beta of 1.75.

Leslie’s (NASDAQ:LESL) last posted its earnings results on Wednesday, August 12th. The company reported $3.96 earnings per share for the quarter, missing the consensus estimate of $4.86 by ($0.90). The firm had revenue of $458.49 million during the quarter, compared to analyst estimates of $503.22 million. As a group, sell-side analysts anticipate that Leslie’s will post -2.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Leslie’s

Institutional investors have recently bought and sold shares of the business. Prescott Group Capital Management L.L.C. acquired a new position in Leslie’s during the 4th quarter worth approximately $433,000. Ameriprise Financial Inc. boosted its holdings in Leslie’s by 2,643.2% in the second quarter. Ameriprise Financial Inc. now owns 407,913 shares of the company’s stock worth $171,000 after purchasing an additional 393,043 shares during the period. Goldman Sachs Group Inc. increased its stake in Leslie’s by 16.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 102,428 shares of the company’s stock valued at $169,000 after purchasing an additional 14,840 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of 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 purchasing an additional 201,731 shares during the period. Finally, Qube Research & Technologies Ltd bought a new position in shares of Leslie’s in the 2nd quarter worth about $50,000.

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.