Cornerstone Investment Partners LLC acquired a new stake in Leslie’s, Inc. (NASDAQ:LESL – Get Rating) in the third quarter, according to its most recent filing with the SEC. The fund acquired 13,637 shares of the company’s stock, valued at approximately $201,000.
A number of other hedge funds have also bought and sold shares of the business. Commerce Bank grew its stake in Leslie’s by 111.8% in the 3rd quarter. Commerce Bank now owns 25,179 shares of the company’s stock valued at $370,000 after buying an additional 13,289 shares in the last quarter. Yousif Capital Management LLC purchased a new position in Leslie’s in the 3rd quarter valued at approximately $1,792,000. Prudential Financial Inc. grew its stake in Leslie’s by 558.0% in the 3rd quarter. Prudential Financial Inc. now owns 156,277 shares of the company’s stock valued at $2,261,000 after buying an additional 132,526 shares in the last quarter. River Road Asset Management LLC purchased a new position in Leslie’s in the 3rd quarter valued at approximately $39,728,000. Finally, First Republic Investment Management Inc. grew its stake in Leslie’s by 8.6% in the 3rd quarter. First Republic Investment Management Inc. now owns 125,249 shares of the company’s stock valued at $1,842,000 after buying an additional 9,874 shares in the last quarter.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Leslie’s to $17.00 in a research note on Friday, December 2nd. MKM Partners started coverage on shares of Leslie’s in a research report on Tuesday, October 4th. They set a “neutral” rating and a $14.00 price target for the company. Robert W. Baird lowered shares of Leslie’s from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $16.00 in a research report on Tuesday, November 15th. Telsey Advisory Group reduced their price target on shares of Leslie’s from $16.00 to $15.00 and set a “market perform” rating for the company in a research report on Thursday, December 1st. Finally, Stifel Nicolaus lowered shares of Leslie’s from a “buy” rating to a “hold” rating and reduced their price target for the company from $17.00 to $15.00 in a research report on Thursday, December 1st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Leslie’s presently has a consensus rating of “Hold” and an average price target of $17.22.
Leslie’s Stock Performance
Leslie’s (NASDAQ:LESL – Get Rating) last posted its quarterly earnings results on Wednesday, November 30th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $475.59 million during the quarter, compared to the consensus estimate of $471.97 million. Leslie’s had a net margin of 10.18% and a negative return on equity of 55.38%. As a group, analysts forecast that Leslie’s, Inc. will post 0.76 EPS for the current fiscal year.
Insiders Place Their Bets
In other Leslie’s news, major shareholder Investor Aggregator L. Bubbles sold 9,343,499 shares of the business’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $12.02, for a total value of $112,308,857.98. Following the completion of the sale, the insider now directly owns 8,776,904 shares of the company’s stock, valued at $105,498,386.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.60% of the stock is currently owned by insiders.
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 various pool and spa maintenance items, such as chemicals, equipment and parts, cleaning and maintenance equipment, safety, recreational, and fitness related products, as well as installation and repair services for pool and spa equipment.
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