Point72 Asset Management L.P. increased its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH – Get Rating) by 47.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 112,400 shares of the specialty retailer’s stock after buying an additional 36,100 shares during the quarter. Point72 Asset Management L.P. owned 0.11% of Sally Beauty worth $1,416,000 as of its most recent SEC filing.
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Several other hedge funds have also added to or reduced their stakes in the business. Verition Fund Management LLC raised its stake in Sally Beauty by 61.1% during the 3rd quarter. Verition Fund Management LLC now owns 158,853 shares of the specialty retailer’s stock worth $2,002,000 after buying an additional 60,229 shares during the period. Boothbay Fund Management LLC bought a new position in Sally Beauty during the 3rd quarter worth about $10,162,000. Nuveen Asset Management LLC increased its holdings in Sally Beauty by 29.4% during the 3rd quarter. Nuveen Asset Management LLC now owns 434,395 shares of the specialty retailer’s stock worth $5,474,000 after purchasing an additional 98,658 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in Sally Beauty by 7.9% during the 3rd quarter. Gamco Investors INC. ET AL now owns 883,574 shares of the specialty retailer’s stock worth $11,133,000 after purchasing an additional 64,394 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Sally Beauty by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,455,072 shares of the specialty retailer’s stock worth $30,937,000 after purchasing an additional 36,919 shares in the last quarter.
Wall Street Analyst Weigh In
A number of research firms have issued reports on SBH. Cowen increased their target price on Sally Beauty from $14.00 to $19.00 and gave the stock a “market perform” rating in a report on Thursday, February 16th. StockNews.com cut Sally Beauty from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th. DA Davidson raised their price objective on Sally Beauty from $11.50 to $17.00 and gave the company a “neutral” rating in a report on Monday, February 6th. Morgan Stanley raised their price objective on Sally Beauty from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Friday, February 3rd. Finally, Piper Sandler assumed coverage on Sally Beauty in a report on Thursday, December 15th. They issued an “overweight” rating and a $15.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.00.
Sally Beauty Trading Down 0.1 %
Shares of NYSE:SBH opened at $15.96 on Friday. Sally Beauty Holdings, Inc. has a 52-week low of $10.95 and a 52-week high of $18.42. The company has a market capitalization of $1.71 billion, a P/E ratio of 10.57 and a beta of 1.30. The company has a 50-day simple moving average of $15.27 and a 200 day simple moving average of $13.82. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.34 and a current ratio of 1.80.
Sally Beauty (NYSE:SBH – Get Rating) last issued its earnings results on Thursday, February 2nd. The specialty retailer reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Sally Beauty had a net margin of 4.35% and a return on equity of 72.24%. The business had revenue of $957.06 million during the quarter, compared to the consensus estimate of $921.74 million. During the same period last year, the business posted $0.63 EPS. Sally Beauty’s revenue was down 2.4% on a year-over-year basis. Sell-side analysts forecast that Sally Beauty Holdings, Inc. will post 1.88 earnings per share for the current year.
Insiders Place Their Bets
In other Sally Beauty news, insider Mark Gregory Spinks sold 35,456 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $17.18, for a total transaction of $609,134.08. Following the completion of the sale, the insider now directly owns 38,313 shares in the company, valued at $658,217.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.97% of the company’s stock.
Sally Beauty Profile
Sally Beauty Holdings, Inc is an international retailer and distributor of professional beauty supplies. It operates through the Sally Beauty Supply (SBS) and Beauty Systems Group (BSG) segments. The SBS segment offers domestic and international chain of retail stores and a consumer-facing e-commerce website that offers professional beauty supplies to both salon professionals and retail customers primarily in North America, Puerto Rico, and parts of Europe and South America.
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