First Republic Investment Management Inc. decreased its position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 8.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,224 shares of the specialty retailer’s stock after selling 3,039 shares during the quarter. First Republic Investment Management Inc.’s holdings in Sally Beauty were worth $457,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in SBH. Advisory Services Network LLC increased its stake in shares of Sally Beauty by 118.1% in the 1st quarter. Advisory Services Network LLC now owns 1,684 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 912 shares in the last quarter. Royce & Associates LP grew its position in Sally Beauty by 40.6% in the 1st quarter. Royce & Associates LP now owns 2,510 shares of the specialty retailer’s stock valued at $46,000 after purchasing an additional 725 shares during the period. CWM Advisors LLC acquired a new stake in Sally Beauty in the 2nd quarter valued at $153,000. Dupont Capital Management Corp grew its position in Sally Beauty by 19.7% in the 2nd quarter. Dupont Capital Management Corp now owns 13,964 shares of the specialty retailer’s stock valued at $186,000 after purchasing an additional 2,300 shares during the period. Finally, Greenleaf Trust acquired a new stake in Sally Beauty in the 1st quarter valued at $268,000.
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Sally Beauty from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. DA Davidson cut their price objective on shares of Sally Beauty to $12.50 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Sally Beauty in a report on Tuesday, June 25th. Jefferies Financial Group raised shares of Sally Beauty from an “underperform” rating to a “hold” rating and cut their price objective for the stock from $14.00 to $12.00 in a report on Friday, July 12th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Sally Beauty from a “sell” rating to a “strong sell” rating in a report on Monday, June 24th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Sally Beauty currently has a consensus rating of “Hold” and a consensus target price of $15.50.
In related news, Director Marshall E. Eisenberg acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was purchased at an average price of $11.89 per share, with a total value of $118,900.00. Following the completion of the purchase, the director now owns 72,071 shares in the company, valued at approximately $856,924.19. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward W. Rabin acquired 7,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $13.25 per share, with a total value of $92,750.00. Following the purchase, the director now owns 19,732 shares of the company’s stock, valued at approximately $261,449. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 58,500 shares of company stock valued at $718,425. 1.04% of the stock is owned by insiders.
Shares of SBH traded down $0.04 during midday trading on Friday, hitting $14.59. 1,676,226 shares of the company traded hands, compared to its average volume of 1,854,238. The stock has a 50-day moving average of $12.79 and a 200-day moving average of $15.28. Sally Beauty Holdings, Inc. has a one year low of $11.46 and a one year high of $23.61. The firm has a market cap of $1.74 billion, a P/E ratio of 6.75, a PEG ratio of 2.17 and a beta of 0.44.
Sally Beauty (NYSE:SBH) last issued its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Sally Beauty had a negative return on equity of 151.31% and a net margin of 6.65%. The company had revenue of $975.20 million during the quarter, compared to analyst estimates of $986.27 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Sally Beauty’s revenue was down 2.1% on a year-over-year basis. On average, equities research analysts predict that Sally Beauty Holdings, Inc. will post 2.21 earnings per share for the current fiscal year.
About Sally Beauty
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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