Leslie's, Inc. $LESL Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. significantly reduced its stake in Leslie's, Inc. by 77.8% during the first quarter, selling over 1.2 million shares and holding only 0.19% of the company post-sale.
• Despite the reduction by Invesco, other institutional investors, such as Lind Value II ApS, have increased their positions, with Lind Value II ApS boosting its stake by 97.7%.
• Analysts have issued bearish views on Leslie’s stock, with a consensus rating of "Reduce" and a price target significantly lowered to around $1.60.

Invesco Ltd. lowered its position in shares of Leslie's, Inc. (NASDAQ:LESL - Free Report) by 77.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 344,213 shares of the company's stock after selling 1,206,041 shares during the quarter. Invesco Ltd. owned about 0.19% of Leslie's worth $253,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lind Value II ApS lifted its position in shares of Leslie's by 97.7% in the 1st quarter. Lind Value II ApS now owns 9,092,401 shares of the company's stock worth $6,687,000 after buying an additional 4,492,185 shares during the last quarter. Private Management Group Inc. boosted its holdings in shares of Leslie's by 14.2% in the 1st quarter. Private Management Group Inc. now owns 5,702,823 shares of the company's stock valued at $4,194,000 after buying an additional 709,664 shares during the period. Northern Trust Corp boosted its holdings in shares of Leslie's by 0.4% in the 4th quarter. Northern Trust Corp now owns 2,092,559 shares of the company's stock valued at $4,666,000 after buying an additional 7,417 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Leslie's by 4.0% in the 1st quarter. Primecap Management Co. CA now owns 1,311,130 shares of the company's stock valued at $964,000 after buying an additional 50,230 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in shares of Leslie's in the 4th quarter valued at about $2,774,000.

Analyst Ratings Changes

LESL has been the subject of several research reports. Mizuho decreased their price target on shares of Leslie's from $3.00 to $1.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $0.35 price target on shares of Leslie's in a report on Friday, August 22nd. Finally, Wall Street Zen raised shares of Leslie's to a "sell" rating in a report on Saturday, July 26th. Nine equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Leslie's has a consensus rating of "Reduce" and a consensus price target of $1.60.

Leslie's Price Performance

Shares of LESL stock opened at $0.35 on Monday. Leslie's, Inc. has a 12-month low of $0.27 and a 12-month high of $3.63. The firm has a market capitalization of $64.56 million, a price-to-earnings ratio of -0.77 and a beta of 1.27. The business has a 50 day simple moving average of $0.39 and a 200 day simple moving average of $0.62.

About Leslie's

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.

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