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

Shares of Leslie’s, Inc. (NASDAQ:LESL) are scheduled 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 1.8%

Shares of LESL stock opened at $0.28 on Thursday. The business has a 50 day moving average of $0.37 and a two-hundred day moving average of $0.58. Leslie’s has a 52 week low of $0.27 and a 52 week high of $3.63. The company has a market cap of $52.53 million, a P/E ratio of -0.63 and a beta of 1.27.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Mizuho reduced their price objective 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. Telsey Advisory Group reiterated a “market perform” rating and set a $0.35 price objective on shares of Leslie’s in a research report on Wednesday. Finally, Wall Street Zen upgraded Leslie’s to a “sell” rating in a research report on Saturday, July 26th. Nine analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $1.60.

Institutional Investors Weigh In On Leslie’s

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Scopia Capital Management LP bought a new stake in Leslie’s during the second quarter worth approximately $41,000. Man Group plc raised its holdings in Leslie’s by 87.1% during the second quarter. Man Group plc now owns 1,016,078 shares of the company’s stock worth $427,000 after purchasing an additional 473,148 shares in the last quarter. Engineers Gate Manager LP raised its holdings in Leslie’s by 309.7% during the second quarter. Engineers Gate Manager LP now owns 61,474 shares of the company’s stock worth $26,000 after purchasing an additional 46,468 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Leslie’s by 2,643.2% during the second quarter. Ameriprise Financial Inc. now owns 407,913 shares of the company’s stock worth $171,000 after purchasing an additional 393,043 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in Leslie’s by 61.3% during the second quarter. Jane Street Group LLC now owns 3,570,476 shares of the company’s stock worth $1,499,000 after purchasing an additional 1,356,700 shares in the last quarter.

Leslie’s Company 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.