Ariel Investments LLC Acquires 7,649,626 Shares of Leslie's, Inc. $LESL

Key Points

• Ariel Investments LLC increased its stake in Leslie's, Inc. by 15.1%, now owning approximately 31.38% of the company with a value of $42.79 million.
• Leslie's stock has recently faced analyst downgrades, with price targets being significantly reduced by firms such as Mizuho and Loop Capital.
• The company's stock is currently trading at $0.32, down 2.5%, with a 12-month range of $0.27 to $3.63 and a consensus rating of "Reduce."

Ariel Investments LLC raised its stake in Leslie's, Inc. (NASDAQ:LESL - Free Report) by 15.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,177,415 shares of the company's stock after purchasing an additional 7,649,626 shares during the quarter. Ariel Investments LLC owned 31.38% of Leslie's worth $42,789,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Northern Trust Corp increased its position in shares of Leslie's by 0.4% during the fourth quarter. Northern Trust Corp now owns 2,092,559 shares of the company's stock valued at $4,666,000 after acquiring an additional 7,417 shares during the last quarter. Graham Capital Management L.P. increased its position in shares of Leslie's by 4.6% during the fourth quarter. Graham Capital Management L.P. now owns 171,422 shares of the company's stock valued at $382,000 after acquiring an additional 7,493 shares during the last quarter. Deutsche Bank AG increased its position in shares of Leslie's by 5.3% during the fourth quarter. Deutsche Bank AG now owns 188,312 shares of the company's stock valued at $420,000 after acquiring an additional 9,459 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 valued at $252,000 after acquiring an additional 11,025 shares during the last quarter. Finally, Mariner LLC purchased a new stake in shares of Leslie's during the fourth quarter valued at approximately $25,000.

Leslie's Price Performance

Shares of Leslie's stock traded up $0.00 during trading hours on Friday, reaching $0.35. The company had a trading volume of 1,391,714 shares, compared to its average volume of 2,380,086. Leslie's, Inc. has a one year low of $0.27 and a one year high of $3.63. The business has a fifty day simple moving average of $0.39 and a 200 day simple moving average of $0.63. The firm has a market cap of $64.55 million, a PE ratio of -0.77 and a beta of 1.27.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LESL. Mizuho decreased their price target on Leslie's from $3.00 to $1.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. Wall Street Zen raised Leslie's to a "sell" rating in a report on Saturday, July 26th. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $0.35 price objective on shares of Leslie's in a report on Friday, August 22nd. Nine investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price 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.