Leslie’s, Inc. (NASDAQ:LESL) Short Interest Up 79.7% in May

Leslie’s, Inc. (NASDAQ:LESL) saw a significant growth in short interest in May. As of May 15th, there was short interest totaling 1,754,995 shares, a growth of 79.7% from the April 30th total of 976,622 shares. Based on an average daily volume of 4,417,708 shares, the days-to-cover ratio is currently 0.4 days. Approximately 18.8% of the company’s stock are short sold.

Institutional Investors Weigh In On Leslie’s

Hedge funds and other institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP lifted its stake in Leslie’s by 309.7% in the 2nd quarter. Engineers Gate Manager LP now owns 61,474 shares of the company’s stock worth $26,000 after purchasing an additional 46,468 shares in the last quarter. SG Americas Securities LLC purchased a new position in Leslie’s in the 4th quarter worth approximately $29,000. Quadrature Capital Ltd bought a new position in shares of Leslie’s in the 4th quarter worth $34,000. Barclays PLC purchased a new stake in shares of Leslie’s during the 4th quarter valued at $35,000. Finally, Scopia Capital Management LP bought a new stake in shares of Leslie’s during the 2nd quarter worth $41,000.

Leslie’s Stock Up 5.8%

LESL opened at $4.04 on Tuesday. The company’s 50-day moving average price is $1.98 and its two-hundred day moving average price is $1.86. Leslie’s has a twelve month low of $0.87 and a twelve month high of $16.20. The stock has a market cap of $37.81 million, a price-to-earnings ratio of -0.13 and a beta of 1.93.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Leslie’s in a research report on Wednesday, March 25th. Morgan Stanley set a $1.00 target price on shares of Leslie’s and gave the stock 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 report on Tuesday, March 17th. Mizuho reduced 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 report on Friday, May 8th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $3.00 price objective (up from $2.00) on shares of Leslie’s in a research note on Thursday, May 14th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price 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.