Tower Research Capital LLC TRC increased its position in Sally Beauty Holdings, Inc. (NYSE:SBH – Get Rating) by 291.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,537 shares of the specialty retailer’s stock after acquiring an additional 10,824 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Sally Beauty were worth $183,000 at the end of the most recent quarter.
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Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. bought a new position in shares of Sally Beauty in the third quarter worth approximately $18,270,000. Principal Financial Group Inc. raised its holdings in Sally Beauty by 18.4% during the second quarter. Principal Financial Group Inc. now owns 3,590,146 shares of the specialty retailer’s stock valued at $42,794,000 after acquiring an additional 558,630 shares during the period. Federated Hermes Inc. raised its holdings in Sally Beauty by 79.3% during the first quarter. Federated Hermes Inc. now owns 636,014 shares of the specialty retailer’s stock valued at $9,941,000 after acquiring an additional 281,243 shares during the period. Duality Advisers LP purchased a new position in shares of Sally Beauty in the second quarter valued at about $2,334,000. Finally, Edgestream Partners L.P. boosted its stake in shares of Sally Beauty by 428.1% in the second quarter. Edgestream Partners L.P. now owns 230,795 shares of the specialty retailer’s stock worth $2,751,000 after acquiring an additional 187,089 shares during the period.
Insider Buying and Selling at Sally Beauty
In related news, insider Mark Gregory Spinks sold 35,456 shares of Sally Beauty stock in a transaction dated 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 transaction, the insider now directly owns 38,313 shares of the company’s stock, valued at approximately $658,217.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.97% of the company’s stock.
Sally Beauty Trading Up 4.5 %
SBH opened at $15.89 on Wednesday. The stock has a 50-day moving average of $15.46 and a 200 day moving average of $13.79. The company has a current ratio of 1.80, a quick ratio of 0.34 and a debt-to-equity ratio of 2.90. Sally Beauty Holdings, Inc. has a 12 month low of $10.95 and a 12 month high of $18.42. The firm has a market cap of $1.71 billion, a P/E ratio of 10.52 and a beta of 1.30.
Sally Beauty (NYSE:SBH – Get Rating) last announced its earnings results on Thursday, February 2nd. The specialty retailer reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Sally Beauty had a return on equity of 72.24% and a net margin of 4.35%. The firm had revenue of $957.06 million during the quarter, compared to analysts’ expectations of $921.74 million. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, research analysts forecast that Sally Beauty Holdings, Inc. will post 1.88 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on SBH shares. Cowen upped their price target on Sally Beauty from $14.00 to $19.00 and gave the stock a “market perform” rating in a research note on Thursday, February 16th. Morgan Stanley raised their target price on shares of Sally Beauty from $10.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday, February 3rd. StockNews.com cut shares of Sally Beauty from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Piper Sandler began coverage on Sally Beauty in a research report on Thursday, December 15th. They set an “overweight” rating and a $15.00 price objective for the company. Finally, DA Davidson boosted their target price on Sally Beauty from $11.50 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.00.
Sally Beauty Company 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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