Leslie's (NASDAQ:LESL) Shares to Reverse Split on Friday, September 26th

Key Points

• Leslie's, Inc. (NASDAQ:LESL) is set to implement a 1-for-20 reverse stock split on Friday, September 26th, following an announcement made on Monday, September 15th.
• The company's stock has experienced low trading prices, opening at $0.28 recently, with analysts projecting a consensus target price of $1.60.
• Institutional investor interest has increased, with firms like Ameriprise Financial raising their stakes by over 2,600% during the second quarter.

Shares of Leslie's, Inc. (NASDAQ:LESL - Free Report) are set to reverse split before the market opens on Friday, September 26th. The 1-20 reverse split was announced on Monday, September 15th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, September 25th.

Leslie's Stock Up 0.0%

Shares of Leslie's stock traded up $0.00 on Thursday, hitting $0.28. The stock had a trading volume of 3,078,187 shares, compared to its average volume of 1,786,436. The business's 50 day moving average is $0.37 and its two-hundred day moving average is $0.57. The stock has a market cap of $52.55 million, a price-to-earnings ratio of -0.63 and a beta of 1.27. Leslie's has a twelve month low of $0.27 and a twelve month high of $3.63.

Analyst Ratings Changes

LESL has been the subject of a number of research reports. Wall Street Zen upgraded Leslie's to a "sell" rating in a research note on Saturday, July 26th. Mizuho reduced their target price on Leslie's from $3.00 to $1.00 and set a "neutral" rating for the company in a research note on Thursday, July 3rd. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $0.35 target price on shares of Leslie's in a research note on Wednesday. Nine analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $1.60.

Hedge Funds Weigh In On Leslie's

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp raised 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 worth $4,666,000 after purchasing an additional 7,417 shares during the period. Deutsche Bank AG grew its position in shares of Leslie's by 5.3% during the 4th quarter. Deutsche Bank AG now owns 188,312 shares of the company's stock valued at $420,000 after purchasing an additional 9,459 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of Leslie's by 29.1% during the 1st quarter. Neuberger Berman Group LLC now owns 73,520 shares of the company's stock valued at $54,000 after purchasing an additional 16,561 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Leslie's by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 54,268 shares of the company's stock valued at $121,000 after purchasing an additional 16,674 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new position in shares of Leslie's during the 4th quarter valued at $39,000.

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.