Redmond Asset Management LLC cut its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,165 shares of the specialty retailer’s stock after selling 1,958 shares during the quarter. Redmond Asset Management LLC’s holdings in Sally Beauty were worth $963,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Ardevora Asset Management LLP increased its stake in shares of Sally Beauty by 41.5% in the 2nd quarter. Ardevora Asset Management LLP now owns 2,769,200 shares of the specialty retailer’s stock valued at $36,941,000 after acquiring an additional 812,700 shares in the last quarter. Advisory Services Network LLC increased its stake in Sally Beauty by 42.3% during the 2nd quarter. Advisory Services Network LLC now owns 2,396 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 712 shares in the last quarter. Westpac Banking Corp increased its stake in Sally Beauty by 21.8% during the 2nd quarter. Westpac Banking Corp now owns 421,654 shares of the specialty retailer’s stock valued at $5,625,000 after purchasing an additional 75,500 shares in the last quarter. Stevens Capital Management LP bought a new stake in Sally Beauty during the 2nd quarter valued at $269,000. Finally, AMG National Trust Bank bought a new stake in Sally Beauty during the 2nd quarter valued at $600,000.
SBH stock traded down $0.46 during midday trading on Thursday, reaching $12.40. 1,041,088 shares of the company’s stock traded hands, compared to its average volume of 2,868,420. The firm has a market capitalization of $1.61 billion, a P/E ratio of 5.74, a price-to-earnings-growth ratio of 2.00 and a beta of 0.44. The firm has a fifty day simple moving average of $12.64. Sally Beauty Holdings, Inc. has a 52 week low of $11.46 and a 52 week high of $23.61.
Sally Beauty (NYSE:SBH) last posted its earnings results on Wednesday, July 31st. The specialty retailer reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Sally Beauty had a net margin of 6.65% and a negative return on equity of 151.31%. The firm had revenue of $975.20 million during the quarter, compared to analyst estimates of $986.27 million. During the same quarter in the prior year, the business posted $0.60 EPS. The business’s revenue was down 2.1% compared to the same quarter last year. Equities analysts predict that Sally Beauty Holdings, Inc. will post 2.21 EPS for the current year.
A number of analysts have commented on the stock. Wells Fargo & Co restated a “hold” rating on shares of Sally Beauty in a research note on Tuesday, June 25th. Zacks Investment Research upgraded shares of Sally Beauty from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. DA Davidson boosted their price target on shares of Sally Beauty from $14.00 to $16.50 and gave the company an “add” rating in a research note on Tuesday, June 25th. ValuEngine lowered shares of Sally Beauty from a “sell” rating to a “strong sell” rating in a research note on Monday, June 24th. Finally, Jefferies Financial Group upgraded shares of Sally Beauty from an “underperform” rating to a “hold” rating and decreased their price target for the company from $14.00 to $12.00 in a research note on Friday, July 12th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. Sally Beauty has an average rating of “Hold” and a consensus target price of $16.08.
In other news, Director Edward W. Rabin bought 7,000 shares of Sally Beauty stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $13.25 per share, for a total transaction of $92,750.00. Following the purchase, the director now directly owns 19,732 shares in the company, valued at approximately $261,449. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christian A. Brickman bought 5,000 shares of Sally Beauty stock in a transaction dated Friday, May 31st. The stock was purchased at an average price of $14.93 per share, with a total value of $74,650.00. Following the purchase, the chief executive officer now owns 360,332 shares in the company, valued at $5,379,756.76. The disclosure for this purchase can be found here. In the last quarter, insiders bought 13,500 shares of company stock valued at $189,795. Company insiders own 1.04% of the company’s stock.
Sally Beauty Profile
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, skin and nail care, styling tools, and other beauty products for retail customers and salon professionals.
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