Redmond Asset Management LLC decreased its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,165 shares of the specialty retailer’s stock after selling 1,958 shares during the period. Redmond Asset Management LLC owned approximately 0.06% of Sally Beauty worth $963,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Truvestments Capital LLC bought a new stake in shares of Sally Beauty during the first quarter worth $28,000. Advisory Services Network LLC boosted its holdings in Sally Beauty by 118.1% during the first quarter. Advisory Services Network LLC now owns 1,684 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 912 shares during the last quarter. Royce & Associates LP boosted its holdings in Sally Beauty by 40.6% during the first quarter. Royce & Associates LP now owns 2,510 shares of the specialty retailer’s stock worth $46,000 after purchasing an additional 725 shares during the last quarter. CWM Advisors LLC acquired a new position in Sally Beauty during the second quarter worth $153,000. Finally, Dupont Capital Management Corp boosted its holdings in Sally Beauty by 50.2% during the first quarter. Dupont Capital Management Corp now owns 11,664 shares of the specialty retailer’s stock worth $215,000 after purchasing an additional 3,900 shares during the last quarter.
SBH has been the subject of several recent research reports. Bank of America restated an “underperform” rating and set a $13.00 target price (down previously from $15.00) on shares of Sally Beauty in a report on Tuesday, June 25th. Wells Fargo & Co restated a “hold” rating on shares of Sally Beauty in a report on Tuesday, June 25th. BMO Capital Markets upgraded shares of Sally Beauty to a “market perform” rating and set a $17.00 target price for the company in a report on Friday, May 3rd. Zacks Investment Research upgraded shares of Sally Beauty from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. Finally, Jefferies Financial Group upgraded shares of Sally Beauty from an “underperform” rating to a “hold” rating and reduced their target price 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. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Sally Beauty currently has a consensus rating of “Hold” and a consensus target price of $16.08.
Sally Beauty (NYSE:SBH) last announced its earnings results 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. The business had revenue of $975.20 million during the quarter, compared to analysts’ expectations of $986.27 million. Sally Beauty had a net margin of 6.65% and a negative return on equity of 151.31%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 earnings per share. As a group, equities analysts predict that Sally Beauty Holdings, Inc. will post 2.21 EPS for the current fiscal year.
In other news, CEO Christian A. Brickman purchased 5,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was purchased at an average price of $14.93 per share, for a total transaction of $74,650.00. Following the completion of the purchase, the chief executive officer now directly owns 360,332 shares in the company, valued at approximately $5,379,756.76. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward W. Rabin purchased 7,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average price 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 $261,449. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 13,500 shares of company stock valued at $189,795. Corporate 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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