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

Private Management Group Inc. increased its stake in shares of Leslie's, Inc. (NASDAQ:LESL - Free Report) by 121.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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. owned approximately 3.01% of Leslie's worth $17,599,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LESL. Ariel Investments LLC increased its position in Leslie's by 46.5% during the 2nd quarter. Ariel Investments LLC now owns 36,601,368 shares of the company's stock worth $153,360,000 after purchasing an additional 11,618,490 shares in the last quarter. Squarepoint Ops LLC increased its position in Leslie's by 1,300.5% in the 2nd quarter. Squarepoint Ops LLC now owns 1,187,916 shares of the company's stock valued at $4,977,000 after acquiring an additional 1,103,096 shares during the period. Marshall Wace LLP increased its position in Leslie's by 477.4% in the 2nd quarter. Marshall Wace LLP now owns 1,110,404 shares of the company's stock valued at $4,653,000 after acquiring an additional 918,084 shares during the period. Perpetual Ltd acquired a new position in Leslie's in the 3rd quarter valued at approximately $1,787,000. Finally, DAVENPORT & Co LLC increased its position in Leslie's by 12.4% in the 1st quarter. DAVENPORT & Co LLC now owns 4,519,246 shares of the company's stock valued at $29,375,000 after acquiring an additional 500,292 shares during the period.

Leslie's Trading Up 5.2 %

NASDAQ LESL traded up $0.14 on Friday, hitting $2.83. 3,570,301 shares of the company were exchanged, compared to its average volume of 4,257,615. The company has a market cap of $523.30 million, a PE ratio of 141.50, a PEG ratio of 1.98 and a beta of 1.17. Leslie's, Inc. has a 12 month low of $2.42 and a 12 month high of $8.21. The stock has a fifty day moving average of $2.84 and a 200-day moving average of $3.67.

Leslie's (NASDAQ:LESL - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $569.64 million for the quarter, compared to analyst estimates of $569.99 million. Leslie's had a net margin of 0.22% and a negative return on equity of 6.11%. Leslie's's revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, analysts expect that Leslie's, Inc. will post 0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LESL has been the subject of several recent research reports. Stifel Nicolaus cut shares of Leslie's from a "hold" rating to a "sell" rating and decreased their price target for the company from $5.25 to $2.50 in a research report on Thursday, July 18th. Loop Capital decreased their price target on shares of Leslie's from $6.00 to $3.00 and set a "hold" rating for the company in a research report on Friday, July 19th. Bank of America decreased their price target on shares of Leslie's from $6.40 to $5.15 and set a "buy" rating for the company in a research report on Thursday, July 18th. Jefferies Financial Group reduced their price objective on shares of Leslie's from $5.00 to $4.00 and set a "hold" rating on the stock in a research note on Wednesday, July 10th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $4.00 price objective on shares of Leslie's in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Leslie's has an average rating of "Hold" and a consensus price target of $3.96.

About Leslie's

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.