Leslie's, Inc. $LESL Shares Acquired by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. significantly increased its stake in Leslie's, Inc. (NASDAQ:LESL) by 701.5%, owning 1,373,990 shares valued at approximately $1.01 million at the end of the reporting period.
• Other hedge funds like Lind Value II ApS and Private Management Group Inc. also boosted their holdings in Leslie's, indicating growing investor interest in the company.
• Analysts have lowered their target prices for Leslie's, with a consensus target of $1.60, reflecting caution regarding the company's future performance.

Graham Capital Management L.P. boosted its position in Leslie's, Inc. (NASDAQ:LESL - Free Report) by 701.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,373,990 shares of the company's stock after buying an additional 1,202,568 shares during the quarter. Graham Capital Management L.P. owned approximately 0.74% of Leslie's worth $1,011,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of LESL. Lind Value II ApS raised its stake in shares of Leslie's by 97.7% in the first quarter. Lind Value II ApS now owns 9,092,401 shares of the company's stock valued at $6,687,000 after buying an additional 4,492,185 shares during the period. BNP Paribas Financial Markets purchased a new position in Leslie's in the fourth quarter worth about $2,774,000. Contrarian Capital Management L.L.C. bought a new stake in shares of Leslie's during the first quarter valued at approximately $652,000. Private Management Group Inc. raised its stake in Leslie's by 14.2% in the first quarter. Private Management Group Inc. now owns 5,702,823 shares of the company's stock worth $4,194,000 after buying an additional 709,664 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Leslie's by 52.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 1,937,020 shares of the company's stock valued at $4,320,000 after buying an additional 668,738 shares during the last quarter.

Leslie's Price Performance

Leslie's stock traded down $0.01 during trading hours on Monday, reaching $0.34. The company had a trading volume of 1,318,035 shares, compared to its average volume of 4,754,796. The company has a 50-day moving average price of $0.39 and a 200 day moving average price of $0.62. Leslie's, Inc. has a 12-month low of $0.27 and a 12-month high of $3.63. The firm has a market cap of $63.29 million, a price-to-earnings ratio of -0.76 and a beta of 1.27.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Leslie's to a "sell" rating in a report on Saturday, July 26th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $0.35 price target on shares of Leslie's in a research report on Friday, August 22nd. Finally, Mizuho cut their price target on shares of Leslie's from $3.00 to $1.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Nine research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Leslie's has a consensus rating of "Reduce" and an average price target of $1.60.

Leslie's 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.