Wasatch Advisors LP trimmed its position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 35.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,072,934 shares of the specialty retailer's stock after selling 1,115,874 shares during the quarter. Wasatch Advisors LP owned about 2.02% of Sally Beauty worth $28,130,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of SBH. DekaBank Deutsche Girozentrale acquired a new position in Sally Beauty during the 1st quarter valued at about $64,000. Quest Partners LLC increased its holdings in shares of Sally Beauty by 16,095.6% during the second quarter. Quest Partners LLC now owns 7,288 shares of the specialty retailer's stock valued at $78,000 after acquiring an additional 7,243 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Sally Beauty in the 3rd quarter valued at approximately $94,000. Algert Global LLC acquired a new stake in Sally Beauty in the 2nd quarter worth approximately $113,000. Finally, Meeder Asset Management Inc. purchased a new stake in Sally Beauty during the 2nd quarter worth approximately $117,000.
Insider Activity
In other news, CAO Kim Mcintosh sold 4,300 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.53, for a total transaction of $62,479.00. Following the sale, the chief accounting officer now directly owns 16,685 shares in the company, valued at $242,433.05. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott C. Sherman sold 13,500 shares of Sally Beauty stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.49, for a total value of $195,615.00. Following the completion of the transaction, the insider now owns 42,431 shares of the company's stock, valued at approximately $614,825.19. This represents a 24.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.36% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on SBH shares. DA Davidson lifted their price objective on shares of Sally Beauty from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. StockNews.com upgraded Sally Beauty from a "hold" rating to a "buy" rating in a research note on Saturday, November 23rd. Raymond James upgraded Sally Beauty from an "underperform" rating to a "market perform" rating in a research note on Friday, November 15th. TD Cowen raised Sally Beauty from a "hold" rating to a "buy" rating and lifted their target price for the stock from $14.00 to $16.00 in a report on Monday, November 25th. Finally, Morgan Stanley increased their price target on shares of Sally Beauty from $8.00 to $12.00 and gave the stock an "underweight" rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Sally Beauty presently has an average rating of "Hold" and an average target price of $13.50.
Check Out Our Latest Stock Report on SBH
Sally Beauty Stock Performance
Shares of NYSE SBH traded down $0.21 during trading on Friday, reaching $13.93. 1,242,844 shares of the company traded hands, compared to its average volume of 1,988,106. The stock has a market cap of $1.42 billion, a P/E ratio of 9.67 and a beta of 1.53. The firm's fifty day simple moving average is $13.12 and its 200 day simple moving average is $12.07. The company has a current ratio of 2.20, a quick ratio of 0.45 and a debt-to-equity ratio of 1.56. Sally Beauty Holdings, Inc. has a 12-month low of $9.06 and a 12-month high of $14.79.
Sally Beauty (NYSE:SBH - Get Free Report) last announced its quarterly earnings results on Thursday, November 14th. The specialty retailer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Sally Beauty had a return on equity of 31.37% and a net margin of 4.13%. The company had revenue of $935.00 million during the quarter, compared to analysts' expectations of $935.88 million. During the same period last year, the business earned $0.42 earnings per share. Sally Beauty's quarterly revenue was up 1.5% on a year-over-year basis. As a group, research analysts anticipate that Sally Beauty Holdings, Inc. will post 1.85 earnings per share for the current fiscal year.
About Sally Beauty
(
Free Report)
Sally Beauty Holdings, Inc operates as a specialty retailer and distributor of professional beauty supplies. The company operates through two segments, Sally Beauty Supply and Beauty Systems Group. The Sally Beauty Supply segment offers beauty products, including hair color and care products, skin and nail care products, styling tools, and other beauty products for retail customers, salons, and salon professionals.
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