Ariel Investments LLC Buys 3,975,268 Shares of Leslie's, Inc. (NASDAQ:LESL)

Ariel Investments LLC increased its holdings in shares of Leslie's, Inc. (NASDAQ:LESL - Free Report) by 8.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,527,789 shares of the company's stock after purchasing an additional 3,975,268 shares during the period. Ariel Investments LLC owned approximately 27.28% of Leslie's worth $112,677,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LESL. Northern Trust Corp grew its position in Leslie's by 0.4% in the fourth quarter. Northern Trust Corp now owns 2,092,559 shares of the company's stock valued at $4,666,000 after purchasing an additional 7,417 shares in the last quarter. Kerrisdale Advisers LLC raised its stake in shares of Leslie's by 6.0% during the 4th quarter. Kerrisdale Advisers LLC now owns 160,438 shares of the company's stock worth $358,000 after purchasing an additional 9,033 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Leslie's by 92.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 21,588 shares of the company's stock valued at $48,000 after buying an additional 10,396 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Leslie's by 10.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 112,796 shares of the company's stock worth $252,000 after buying an additional 11,025 shares during the last quarter. Finally, Mariner LLC bought a new stake in Leslie's during the fourth quarter worth $25,000.

Leslie's Price Performance

NASDAQ:LESL traded down $0.01 during trading hours on Thursday, reaching $0.68. 1,393,736 shares of the company were exchanged, compared to its average volume of 5,486,227. The business has a 50 day moving average of $0.73 and a 200 day moving average of $1.75. Leslie's, Inc. has a 1-year low of $0.51 and a 1-year high of $6.02. The company has a market capitalization of $126.40 million, a P/E ratio of -4.55 and a beta of 1.32.

Leslie's (NASDAQ:LESL - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02). Leslie's had a negative net margin of 2.13% and a negative return on equity of 6.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LESL shares. Telsey Advisory Group reissued a "market perform" rating and issued a $3.00 price objective on shares of Leslie's in a research report on Tuesday, March 18th. Morgan Stanley cut their price objective on Leslie's from $3.00 to $1.50 and set an "equal weight" rating for the company in a research report on Monday, March 3rd. Guggenheim reissued a "neutral" rating on shares of Leslie's in a report on Friday, February 7th. Bank of America downgraded Leslie's from a "buy" rating to an "underperform" rating and cut their price target for the company from $2.65 to $1.40 in a report on Tuesday, February 18th. Finally, Stifel Nicolaus upgraded shares of Leslie's from a "sell" rating to a "hold" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $2.65.

Leslie's Company Profile

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.