Confluence Investment Management LLC Grows Stake in Leslie’s, Inc. (NASDAQ:LESL)

Confluence Investment Management LLC boosted its position in Leslie’s, Inc. (NASDAQ:LESLGet Rating) by 46.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,523,846 shares of the company’s stock after purchasing an additional 483,152 shares during the period. Confluence Investment Management LLC’s holdings in Leslie’s were worth $23,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Capital Research Global Investors lifted its stake in shares of Leslie’s by 106.3% during the 1st quarter. Capital Research Global Investors now owns 7,009,446 shares of the company’s stock valued at $135,703,000 after buying an additional 3,612,422 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Leslie’s by 42.3% in the fourth quarter. William Blair Investment Management LLC now owns 10,975,142 shares of the company’s stock worth $259,672,000 after acquiring an additional 3,262,915 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Leslie’s by 34.2% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 9,652,149 shares of the company’s stock valued at $228,370,000 after purchasing an additional 2,458,478 shares in the last quarter. Ferguson Wellman Capital Management Inc. bought a new stake in shares of Leslie’s during the 1st quarter valued at $19,047,000. Finally, Primecap Management Co. CA bought a new stake in shares of Leslie’s during the 4th quarter valued at $23,111,000.

Analyst Upgrades and Downgrades

Several research analysts have commented on LESL shares. Stifel Nicolaus cut their target price on Leslie’s from $22.00 to $20.00 in a research note on Monday, August 8th. Guggenheim cut their price objective on shares of Leslie’s from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. Loop Capital lowered shares of Leslie’s from a “buy” rating to a “hold” rating and decreased their target price for the stock from $26.00 to $16.00 in a report on Thursday, June 23rd. Telsey Advisory Group downgraded shares of Leslie’s from an “outperform” rating to a “market perform” rating and cut their price target for the company from $28.00 to $16.00 in a report on Monday, August 8th. Finally, Morgan Stanley decreased their price target on shares of Leslie’s from $24.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, August 8th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.22.

Leslie’s Stock Down 0.1 %

NASDAQ LESL opened at $13.88 on Monday. The stock’s 50-day simple moving average is $15.10 and its two-hundred day simple moving average is $17.51. Leslie’s, Inc. has a twelve month low of $13.47 and a twelve month high of $24.40. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.61 and a beta of 0.79.

Leslie’s (NASDAQ:LESLGet Rating) last announced its quarterly earnings data on Friday, August 5th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.06). The firm had revenue of $673.60 million for the quarter, compared to the consensus estimate of $688.64 million. Leslie’s had a net margin of 9.74% and a negative return on equity of 49.59%. Leslie’s’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 earnings per share. On average, equities analysts expect that Leslie’s, Inc. will post 0.88 earnings per share for the current fiscal year.

Leslie’s Profile

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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 offers pool chemicals consisting of chlorine, sanitizers, water balancers, specialty chemicals, and algae control; pool covers, including winter, solar and safety covers, leaf nets, cover reels, and cover alternatives; pool equipment, which comprise pool cleaners, pool pumps, pool filters, pool heating, and lighting; and pools, such as above ground pools, soft side pools, above ground pools liners and equipment, ladders and rails, and diving boards.

See Also

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Institutional Ownership by Quarter for Leslie's (NASDAQ:LESL)

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