Leslie’s (NASDAQ:LESL) Sees Unusually-High Trading Volume

Leslie’s, Inc. (NASDAQ:LESL) saw an uptick in trading volume on Wednesday . 71,414 shares changed hands during mid-day trading, a decline of 96% from the previous session’s volume of 1,730,371 shares.The stock last traded at $22.00 and had previously closed at $22.38.

Several research firms have recently weighed in on LESL. Zacks Investment Research downgraded shares of Leslie’s from a “buy” rating to a “hold” rating in a research note on Thursday, August 12th. Wolfe Research reissued a “buy” rating and issued a $35.00 price target on shares of Leslie’s in a research note on Thursday, August 5th. Jefferies Financial Group began coverage on shares of Leslie’s in a research note on Thursday, August 5th. They issued a “buy” rating and a $39.00 price target on the stock. Stifel Nicolaus began coverage on shares of Leslie’s in a research note on Thursday, September 9th. They issued a “buy” rating and a $28.00 price target on the stock. Finally, Loop Capital raised shares of Leslie’s from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, August 20th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $32.00.

The stock has a market cap of $4.41 billion and a price-to-earnings ratio of 33.71. The business’s fifty day moving average is $24.31 and its two-hundred day moving average is $25.62.

Leslie’s (NASDAQ:LESL) last posted its quarterly earnings results on Wednesday, August 4th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.56 by $0.08. The firm had revenue of $596.50 million for the quarter, compared to analyst estimates of $571.81 million. During the same quarter last year, the firm earned $0.47 EPS. The company’s revenue was up 24.3% on a year-over-year basis. Sell-side analysts forecast that Leslie’s, Inc. will post 0.74 earnings per share for the current year.

In related news, major shareholder Investor Aggregator L. Bubbles sold 799,669 shares of the company’s stock in a transaction on Tuesday, June 29th. The shares were sold at an average price of $26.81, for a total value of $21,439,125.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Paula Baker sold 2,832 shares of the company’s stock in a transaction on Tuesday, June 29th. The stock was sold at an average price of $26.81, for a total transaction of $75,925.92. Following the transaction, the executive now owns 151,171 shares of the company’s stock, valued at approximately $4,052,894.51. The disclosure for this sale can be found here. Insiders have sold a total of 857,357 shares of company stock valued at $22,985,741 in the last quarter.

A number of institutional investors have recently made changes to their positions in the business. American International Group Inc. grew its stake in shares of Leslie’s by 48.0% during the 1st quarter. American International Group Inc. now owns 1,194 shares of the company’s stock worth $29,000 after purchasing an additional 387 shares during the period. Paradigm Financial Advisors LLC grew its stake in shares of Leslie’s by 4.3% during the 2nd quarter. Paradigm Financial Advisors LLC now owns 14,610 shares of the company’s stock worth $402,000 after purchasing an additional 605 shares during the period. Stephens Inc. AR grew its stake in shares of Leslie’s by 11.7% during the 2nd quarter. Stephens Inc. AR now owns 6,796 shares of the company’s stock worth $187,000 after purchasing an additional 710 shares during the period. Intercontinental Wealth Advisors LLC grew its stake in shares of Leslie’s by 1.3% during the 2nd quarter. Intercontinental Wealth Advisors LLC now owns 59,097 shares of the company’s stock worth $1,625,000 after purchasing an additional 736 shares during the period. Finally, Sandy Spring Bank acquired a new position in shares of Leslie’s during the 2nd quarter worth $27,000. Institutional investors own 90.13% of the company’s stock.

Leslie’s Company Profile (NASDAQ:LESL)

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, which primarily consist of maintenance items, such as chemicals, equipment and parts, and cleaning and maintenance equipment, as well as safety, recreational, and fitness-related products.

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