Engineers Gate Manager LP Purchases New Stake in Sally Beauty Holdings, Inc. (SBH)
Engineers Gate Manager LP purchased a new position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 91,644 shares of the specialty retailer’s stock, valued at approximately $1,794,000. Engineers Gate Manager LP owned approximately 0.07% of Sally Beauty as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in SBH. US Bancorp DE increased its position in Sally Beauty by 227.6% during the second quarter. US Bancorp DE now owns 5,100 shares of the specialty retailer’s stock worth $103,000 after buying an additional 3,543 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sally Beauty by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,427 shares of the specialty retailer’s stock worth $110,000 after buying an additional 559 shares in the last quarter. Flinton Capital Management LLC grew its position in shares of Sally Beauty by 86.8% in the second quarter. Flinton Capital Management LLC now owns 7,952 shares of the specialty retailer’s stock valued at $161,000 after purchasing an additional 3,696 shares during the period. Invictus RG purchased a new stake in shares of Sally Beauty in the third quarter valued at $202,000. Finally, M&T Bank Corp grew its position in shares of Sally Beauty by 0.6% in the second quarter. M&T Bank Corp now owns 10,373 shares of the specialty retailer’s stock valued at $210,000 after purchasing an additional 65 shares during the period.
A number of equities research analysts have recently commented on the company. DA Davidson downgraded Sally Beauty from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $21.00 to $16.00 in a research report on Sunday, November 26th. KeyCorp reaffirmed a “hold” rating on shares of Sally Beauty in a research report on Friday, November 24th. Zacks Investment Research downgraded Sally Beauty from a “hold” rating to a “sell” rating in a research report on Saturday, November 18th. Bank of America lowered their price objective on Sally Beauty from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, November 16th. Finally, Morgan Stanley lowered their price objective on Sally Beauty from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Thursday, November 16th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.82.
In other news, Director Edward W. Rabin bought 3,750 shares of Sally Beauty stock in a transaction that occurred on Tuesday, November 21st. The shares were purchased at an average price of $15.49 per share, for a total transaction of $58,087.50. Following the completion of the acquisition, the director now owns 14,351 shares of the company’s stock, valued at $222,296.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is currently owned by company insiders.
Shares of Sally Beauty Holdings, Inc. (SBH) traded up $0.44 during trading on Friday, reaching $17.06. The company had a trading volume of 2,660,026 shares, compared to its average volume of 2,691,143. Sally Beauty Holdings, Inc. has a 52-week low of $14.05 and a 52-week high of $27.63. The firm has a market capitalization of $2,191.10, a PE ratio of 9.48, a P/E/G ratio of 1.59 and a beta of 0.66. The company has a quick ratio of 0.42, a current ratio of 2.04 and a debt-to-equity ratio of -4.87.
Sally Beauty (NYSE:SBH) last issued its earnings results on Wednesday, November 15th. The specialty retailer reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.02). Sally Beauty had a net margin of 5.46% and a negative return on equity of 74.84%. The firm had revenue of $974.20 million during the quarter, compared to analyst estimates of $989.96 million. During the same quarter in the previous year, the business posted $0.41 EPS. Sally Beauty’s revenue was down .2% compared to the same quarter last year. analysts predict that Sally Beauty Holdings, Inc. will post 1.91 EPS for the current fiscal year.
Sally Beauty declared that its Board of Directors has approved a share buyback program on Thursday, August 31st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 40.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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About Sally Beauty
Sally Beauty Holdings, Inc is an international specialty retailer and distributor of professional beauty supplies with operations primarily in North America, South America and Europe. The Company operates through two business segments: Sally Beauty Supply and Beauty Systems Group (BSG). Sally Beauty Supply is a domestic and international chain of cash and carry retail stores, which 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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