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

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.

Leslie's, Inc. (NASDAQ:LESL - Free Report) shares are set to reverse split on the morning of 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 closing bell on Thursday, September 25th.

Leslie's Stock Performance

Shares of Leslie's stock traded down $0.00 during trading on Friday, hitting $0.28. 7,140,369 shares of the stock were exchanged, compared to its average volume of 2,026,643. The stock's fifty day moving average is $0.36 and its 200 day moving average is $0.56. The stock has a market cap of $52.12 million, a PE ratio of -0.62 and a beta of 1.27. Leslie's has a 12 month low of $0.27 and a 12 month high of $3.63.

Analysts Set New Price Targets

Several research firms recently weighed in on LESL. Wall Street Zen raised shares of Leslie's to a "sell" rating in a report on Saturday, July 26th. Telsey Advisory Group restated a "market perform" rating and issued a $0.35 price objective on shares of Leslie's in a report on Wednesday. Finally, Mizuho dropped their price objective on Leslie's from $3.00 to $1.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Nine equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $1.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LESL. Deutsche Bank AG lifted its holdings 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 period. ProShare Advisors LLC increased its stake in shares of Leslie's by 44.4% in the fourth quarter. ProShare Advisors LLC now owns 54,268 shares of the company's stock valued at $121,000 after buying an additional 16,674 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of Leslie's by 297.7% in the fourth quarter. Two Sigma Investments LP now owns 474,875 shares of the company's stock valued at $1,059,000 after buying an additional 355,474 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Leslie's in the fourth quarter valued at $39,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Leslie's by 13.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 461,502 shares of the company's stock valued at $1,029,000 after buying an additional 55,701 shares in the last quarter.

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.