Rhumbline Advisers trimmed its stake in Sally Beauty Holdings, Inc. (NYSE:SBH) by 7.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 220,425 shares of the specialty retailer’s stock after selling 18,588 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Sally Beauty worth $3,533,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Sally Beauty by 176.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,524 shares of the specialty retailer’s stock worth $124,000 after acquiring an additional 4,805 shares during the last quarter. Hartford Investment Management Co. acquired a new position in shares of Sally Beauty in the second quarter worth $197,000. New York State Teachers Retirement System raised its holdings in shares of Sally Beauty by 393.5% in the first quarter. New York State Teachers Retirement System now owns 15,300 shares of the specialty retailer’s stock worth $252,000 after acquiring an additional 12,200 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of Sally Beauty in the first quarter worth $273,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Sally Beauty in the first quarter worth $317,000.
SBH has been the subject of a number of analyst reports. Jefferies Financial Group set a $14.00 price target on Sally Beauty and gave the stock a “hold” rating in a report on Thursday, August 2nd. Zacks Investment Research raised Sally Beauty from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. BMO Capital Markets cut their price target on Sally Beauty from $16.00 to $14.00 and set a “hold” rating for the company in a report on Monday, August 6th. beau cut Sally Beauty from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $17.00 to $15.00 in a report on Tuesday, July 17th. Finally, Morgan Stanley cut their price target on Sally Beauty from $13.50 to $13.00 and set an “underweight” rating for the company in a report on Monday, August 6th. Five investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Sally Beauty has an average rating of “Hold” and an average target price of $15.73.
In other Sally Beauty news, CEO Christian A. Brickman bought 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was purchased at an average cost of $13.90 per share, for a total transaction of $222,400.00. Following the completion of the purchase, the chief executive officer now owns 278,664 shares of the company’s stock, valued at approximately $3,873,429.60. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Aaron E. Alt bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was acquired at an average price of $14.07 per share, with a total value of $56,280.00. Following the completion of the purchase, the chief financial officer now directly owns 69,619 shares of the company’s stock, valued at approximately $979,539.33. The disclosure for this purchase can be found here. Corporate insiders own 0.97% of the company’s stock.
Sally Beauty stock opened at $15.97 on Friday. The firm has a market capitalization of $1.92 billion, a P/E ratio of 7.85, a price-to-earnings-growth ratio of 1.33 and a beta of 0.20. Sally Beauty Holdings, Inc. has a 52 week low of $13.72 and a 52 week high of $20.62. The company has a quick ratio of 0.39, a current ratio of 2.12 and a debt-to-equity ratio of -5.42.
Sally Beauty (NYSE:SBH) last released its earnings results on Thursday, August 2nd. The specialty retailer reported $0.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. The firm had revenue of $996.28 million during the quarter, compared to analyst estimates of $995.30 million. Sally Beauty had a negative return on equity of 76.04% and a net margin of 6.05%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. research analysts predict that Sally Beauty Holdings, Inc. will post 2.12 EPS for the current year.
About Sally Beauty
Sally Beauty Holdings, Inc, together with its subsidiaries, 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, beauty sundries, and styling tools for retail customers and salon professionals.
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