雅虎香港財經 Several Reasons to Invest in Leslie’s (LESL)
Ariel Investments, an investment management company, released its “Ariel Small-Cap Value Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the Ariel Small Cap Value Tax-Exempt Composite gained 13.37% gross of fees compared to an 8.42% return for the Russell 2000 Value Index and a 6.23% gain for the Russell 2000 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Ariel Small-Cap Value Strategy highlighted stocks like Leslie’s, Inc. (NASDAQ:LESL) in the fourth quarter 2022 investor letter. Headquartered in Phoenix, Arizona, Leslie’s, Inc. (NASDAQ:LESL) is a direct-to-consumer pool and spa care brand. On March 14, 2023, Leslie’s, Inc. (NASDAQ:LESL) stock closed at $12.05 per share. One-month return of Leslie’s, Inc. (NASDAQ:LESL) was -13.31%, and its shares lost 41.22% of their value over the last 52 weeks. Leslie’s, Inc. (NASDAQ:LESL) has a market capitalization of $2.213 billion.
Ariel Small-Cap Value Strategy made the following comment about Leslie’s, Inc. (NASDAQ:LESL) in its Q4 2022 investor letter:
"We also added Leslie’s, Inc. (NASDAQ:LESL), the leading direct-to-consumer pool and spa care services company in the U.S. The company differentiates itself through its loyal client base, vertically integrated supply chain, scale advantage and seamless customer experience. Shares have recently sold off on near-term operational issues at a distribution facility, as well as concerns around the sustainability of the company’s growth profile in a normalized, post-pandemic environment. Although we believe new pool installments will likely experience a slowdown, the install base has materially increased and ~80% of LESL’s business is tied to recurring maintenance. We found this entry point as an attractive opportunity to own a differentiated retailer, well positioned to benefit from secular tailwinds in an industry, permanently elevated by the pandemic."
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Leslie’s, Inc. (NASDAQ:LESL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held Leslie’s, Inc. (NASDAQ:LESL) at the end of the fourth quarter which was 17 in the previous quarter.
We discussed Leslie’s, Inc. (NASDAQ:LESL) in another article and shared the list of stocks to sell according to billionaire Dan Loeb. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
