Verition Fund Management LLC Takes $319000 Position in Leslie’s, Inc.

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Leslie’s($NASDAQ:LESL), Inc. operates as a specialty retailer of swimming pool supplies, chemicals, and related accessories in the United States. The company sells its products through its retail stores, catalogs, and Website; and through third-party retailers, including mass merchants, home improvement stores, and pool supply stores.

Stock Price

On Monday, shares of Leslie’s Inc. opened at $14.90 and closed at $14.60, up 8.3% from the previous day’s close of $13.40. This is a positive development for Leslie’s, as it indicates that a major investor believes in the company’s future prospects. The additional capital will give Leslie’s a boost as it continues to grow and expand its operations.

VI Analysis

Based on the VI app, Leslie’s has strong growth potential and profitability, but is weak in asset and dividend categories. The company is classified as a “gorilla” due to its strong competitive advantage. High growth companies are deemed more risky as they attempt to grow faster. Leslie’s has a high health score of 7/10 with regard to its cashflows and debt, meaning it is capable of safely riding out any crisis without the risk of bankruptcy.

Summary

A number of hedge funds have recently modified their holdings of LESL. Verition Fund Management LLC’s investment in Leslie’s is based on the belief that the stock is undervalued and has significant upside potential. The stock price moved up the same day as the announcement, indicating that other investors agree with this assessment.