Maverick Capital Ltd. raised its position in Sally Beauty Holdings, Inc. (NYSE:SBH) by 3,218.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 476,438 shares of the specialty retailer’s stock after purchasing an additional 462,080 shares during the period. Maverick Capital Ltd. owned 0.42% of Sally Beauty worth $3,850,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its position in shares of Sally Beauty by 951.6% in the 4th quarter. Meeder Asset Management Inc. now owns 4,059 shares of the specialty retailer’s stock worth $74,000 after purchasing an additional 3,673 shares during the period. Advisor Group Holdings Inc. acquired a new position in shares of Sally Beauty in the 1st quarter worth approximately $36,000. Islay Capital Management LLC acquired a new position in shares of Sally Beauty in the 4th quarter worth approximately $87,000. Nisa Investment Advisors LLC acquired a new position in shares of Sally Beauty in the 1st quarter worth approximately $43,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Sally Beauty by 35.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 7,945 shares of the specialty retailer’s stock worth $64,000 after purchasing an additional 2,097 shares during the period.
A number of research analysts have recently issued reports on SBH shares. Wells Fargo & Co dropped their price target on shares of Sally Beauty from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, March 16th. Oppenheimer upgraded shares of Sally Beauty to a “buy” rating and set a $19.00 target price on the stock in a research report on Tuesday, June 16th. TheStreet upgraded shares of Sally Beauty from a “d+” rating to a “c-” rating in a research report on Thursday, June 11th. DA Davidson dropped their target price on shares of Sally Beauty from $14.50 to $10.00 in a research report on Monday, April 27th. Finally, ValuEngine downgraded shares of Sally Beauty from a “sell” rating to a “strong sell” rating in a research report on Monday, June 8th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $12.00.
Sally Beauty (NYSE:SBH) last released its quarterly earnings data on Wednesday, May 6th. The specialty retailer reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Sally Beauty had a net margin of 5.45% and a negative return on equity of 491.27%. The firm had revenue of $871.00 million for the quarter, compared to the consensus estimate of $870.39 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The business’s revenue was down 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Sally Beauty Holdings, Inc. will post 1.12 earnings per share for the current year.
In other news, Director Edward W. Rabin bought 4,500 shares of Sally Beauty stock in a transaction dated Friday, May 15th. The stock was purchased at an average price of $9.66 per share, for a total transaction of $43,470.00. Following the purchase, the director now directly owns 25,520 shares in the company, valued at approximately $246,523.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward W. Rabin bought 3,500 shares of Sally Beauty stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $10.21 per share, with a total value of $35,735.00. Following the purchase, the director now owns 25,520 shares in the company, valued at $260,559.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 12,000 shares of company stock worth $123,515. Corporate insiders own 2.62% 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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