Municipal Employees Retirement System of Michigan cut its stake in Sally Beauty Holdings, Inc. (NYSE:SBH) by 17.4% during the second quarter, Holdings Channel reports. The firm owned 54,650 shares of the specialty retailer’s stock after selling 11,510 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Sally Beauty Holdings were worth $1,107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE boosted its position in Sally Beauty Holdings by 227.6% in the second quarter. US Bancorp DE now owns 5,100 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 3,543 shares during the period. Meadow Creek Investment Management LLC boosted its position in Sally Beauty Holdings by 11.8% in the first quarter. Meadow Creek Investment Management LLC now owns 5,852 shares of the specialty retailer’s stock valued at $120,000 after buying an additional 616 shares during the period. Glen Harbor Capital Management LLC boosted its position in Sally Beauty Holdings by 11.8% in the first quarter. Glen Harbor Capital Management LLC now owns 7,448 shares of the specialty retailer’s stock valued at $152,000 after buying an additional 784 shares during the period. PNC Financial Services Group Inc. boosted its position in Sally Beauty Holdings by 37.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,763 shares of the specialty retailer’s stock valued at $158,000 after buying an additional 2,125 shares during the period. Finally, Elkfork Partners LLC boosted its position in Sally Beauty Holdings by 11.8% in the first quarter. Elkfork Partners LLC now owns 9,044 shares of the specialty retailer’s stock valued at $185,000 after buying an additional 952 shares during the period.

Shares of Sally Beauty Holdings, Inc. (NYSE SBH) opened at 19.68 on Friday. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 12.01 and a beta of 0.65. The company’s 50-day moving average is $19.98 and its 200 day moving average is $20.40. Sally Beauty Holdings, Inc. has a 1-year low of $17.26 and a 1-year high of $30.17.

Sally Beauty Holdings (NYSE:SBH) last posted its quarterly earnings data on Thursday, August 3rd. The specialty retailer reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. Sally Beauty Holdings had a net margin of 5.89% and a negative return on equity of 80.60%. The firm had revenue of $998.04 million during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the company posted $0.47 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, analysts expect that Sally Beauty Holdings, Inc. will post $1.82 EPS for the current fiscal year.

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Several research analysts have recently issued reports on SBH shares. ValuEngine cut shares of Sally Beauty Holdings from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of Sally Beauty Holdings from a “sell” rating to a “hold” rating in a report on Saturday, May 6th. BidaskClub upgraded shares of Sally Beauty Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. DA Davidson started coverage on shares of Sally Beauty Holdings in a report on Thursday, July 6th. They issued a “neutral” rating and a $23.00 price objective for the company. Finally, Jefferies Group LLC started coverage on shares of Sally Beauty Holdings in a report on Friday, June 2nd. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Sally Beauty Holdings has a consensus rating of “Hold” and an average price target of $24.70.

In other Sally Beauty Holdings news, Director Edward W. Rabin purchased 3,500 shares of the stock in a transaction dated Wednesday, May 24th. The stock was bought at an average price of $17.72 per share, for a total transaction of $62,020.00. Following the transaction, the director now directly owns 14,153 shares in the company, valued at $250,791.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christian A. Brickman purchased 10,000 shares of the stock in a transaction dated Wednesday, May 24th. The shares were acquired at an average price of $17.61 per share, with a total value of $176,100.00. Following the transaction, the chief executive officer now owns 152,743 shares in the company, valued at $2,689,804.23. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 51,750 shares of company stock valued at $932,060. 0.97% of the stock is owned by corporate insiders.

Sally Beauty Holdings Company Profile

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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Institutional Ownership by Quarter for Sally Beauty Holdings (NYSE:SBH)

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