Lord Abbett & CO. LLC Invests $21.13 Million in Leslie’s, Inc. (NASDAQ:LESL)

Lord Abbett & CO. LLC bought a new position in shares of Leslie’s, Inc. (NASDAQ:LESL) during the third quarter, Holdings Channel reports. The fund bought 1,028,899 shares of the company’s stock, valued at approximately $21,133,000.

Several other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Leslie’s by 3.7% during the third quarter. Principal Financial Group Inc. now owns 11,957 shares of the company’s stock worth $246,000 after purchasing an additional 431 shares during the period. Stephens Inc. AR raised its position in shares of Leslie’s by 7.9% during the third quarter. Stephens Inc. AR now owns 7,331 shares of the company’s stock worth $151,000 after purchasing an additional 535 shares during the period. Amalgamated Bank raised its position in shares of Leslie’s by 2.6% during the third quarter. Amalgamated Bank now owns 21,480 shares of the company’s stock worth $441,000 after purchasing an additional 554 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Leslie’s by 1.8% during the third quarter. State Board of Administration of Florida Retirement System now owns 41,600 shares of the company’s stock worth $854,000 after purchasing an additional 725 shares during the period. Finally, First Horizon Advisors Inc. raised its position in shares of Leslie’s by 163.9% during the third quarter. First Horizon Advisors Inc. now owns 1,417 shares of the company’s stock worth $31,000 after purchasing an additional 880 shares during the period. 97.59% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently issued reports on LESL shares. Zacks Investment Research lowered Leslie’s from a “buy” rating to a “hold” rating in a research report on Thursday, December 16th. Telsey Advisory Group dropped their price target on Leslie’s from $38.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 7th. Loop Capital upped their price target on Leslie’s from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Friday, December 10th. William Blair reissued an “outperform” rating on shares of Leslie’s in a research report on Friday, December 10th. Finally, Berenberg Bank reissued a “buy” rating and set a $31.00 price target on shares of Leslie’s in a research report on Friday, December 17th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $30.69.

In other news, major shareholder Investor Aggregator L. Bubbles sold 13,625,310 shares of the firm’s stock in a transaction on Thursday, December 16th. The stock was sold at an average price of $20.25, for a total value of $275,912,527.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Paula Baker sold 25,156 shares of the firm’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $20.70, for a total value of $520,729.20. The disclosure for this sale can be found here.

Shares of LESL opened at $22.07 on Friday. Leslie’s, Inc. has a 1 year low of $19.80 and a 1 year high of $32.84. The stock has a 50 day simple moving average of $22.09 and a 200-day simple moving average of $22.89. The stock has a market cap of $4.19 billion, a PE ratio of 34.48, a PEG ratio of 3.45 and a beta of 0.81.

Leslie’s (NASDAQ:LESL) last released its quarterly earnings results on Thursday, December 9th. The company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. The business had revenue of $408.90 million for the quarter, compared to the consensus estimate of $388.04 million. The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. As a group, analysts anticipate that Leslie’s, Inc. will post 0.96 earnings per share for the current fiscal year.

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, which primarily consist of maintenance items, such as chemicals, equipment and parts, and cleaning and maintenance equipment, as well as safety, recreational, and fitness-related products.

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Institutional Ownership by Quarter for Leslie's (NASDAQ:LESL)

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