Contrarian Capital Management L.L.C. Purchases New Stake in Leslie’s, Inc. $LESL

Contrarian Capital Management L.L.C. bought a new position in shares of Leslie’s, Inc. (NASDAQ:LESL) during the 1st quarter, Holdings Channel reports. The fund bought 887,112 shares of the company’s stock, valued at approximately $652,000. Leslie’s accounts for approximately 0.2% of Contrarian Capital Management L.L.C.’s portfolio, making the stock its 28th largest holding.

A number of other large investors have also made changes to their positions in the stock. Penn Capital Management Company LLC grew its holdings in shares of Leslie’s by 6.7% in the 1st quarter. Penn Capital Management Company LLC now owns 602,352 shares of the company’s stock worth $443,000 after acquiring an additional 37,571 shares during the period. Clarkston Capital Partners LLC raised its stake in shares of Leslie’s by 0.6% during the 1st quarter. Clarkston Capital Partners LLC now owns 23,191,550 shares of the company’s stock worth $17,057,000 after buying an additional 138,650 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Leslie’s in the 1st quarter valued at about $222,000. Neuberger Berman Group LLC increased its holdings in 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 acquiring an additional 16,561 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Leslie’s by 17,757.4% in the first quarter. Russell Investments Group Ltd. now owns 81,251 shares of the company’s stock valued at $60,000 after purchasing an additional 80,796 shares in the last quarter.

Wall Street Analysts Forecast Growth

LESL has been the subject of a number of recent research reports. Loop Capital dropped their price objective on shares of Leslie’s from $4.00 to $1.00 and set a “hold” rating for the company in a research note on Friday, May 9th. Wall Street Zen raised Leslie’s to a “sell” rating in a research 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 research report on Friday, August 22nd. Finally, Mizuho decreased their price objective on Leslie’s from $3.00 to $1.00 and set a “neutral” rating on the stock in a research note on Thursday, July 3rd. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $1.60.

Leslie’s Stock Up 2.0%

NASDAQ:LESL opened at $0.34 on Wednesday. The company has a market cap of $63.61 million, a P/E ratio of -0.76 and a beta of 1.27. The firm’s 50 day moving average is $0.41 and its two-hundred day moving average is $0.70. Leslie’s, Inc. has a fifty-two week low of $0.27 and a fifty-two week high of $3.63.

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.