Sally Beauty Holdings, Inc. (SBH) Position Trimmed by LSV Asset Management
LSV Asset Management reduced its position in Sally Beauty Holdings, Inc. (NYSE:SBH) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 668,500 shares of the specialty retailer’s stock after selling 35,000 shares during the quarter. LSV Asset Management owned 0.48% of Sally Beauty Holdings worth $13,537,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of SBH. BlackRock Inc. raised its position in Sally Beauty Holdings by 13,327.3% in the 1st quarter. BlackRock Inc. now owns 11,424,731 shares of the specialty retailer’s stock worth $233,521,000 after purchasing an additional 11,339,645 shares during the period. Nordea Investment Management AB raised its position in Sally Beauty Holdings by 79.9% in the 1st quarter. Nordea Investment Management AB now owns 4,856,164 shares of the specialty retailer’s stock worth $99,260,000 after purchasing an additional 2,156,191 shares during the period. Schroder Investment Management Group raised its position in Sally Beauty Holdings by 426.8% in the 1st quarter. Schroder Investment Management Group now owns 1,559,315 shares of the specialty retailer’s stock worth $31,732,000 after purchasing an additional 1,263,307 shares during the period. Victory Capital Management Inc. purchased a new stake in Sally Beauty Holdings in the 2nd quarter worth about $24,431,000. Finally, Cove Street Capital LLC purchased a new stake in Sally Beauty Holdings in the 1st quarter worth about $22,661,000.
In other Sally Beauty Holdings news, Director Edward W. Rabin acquired 4,250 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was purchased at an average price of $18.06 per share, for a total transaction of $76,755.00. Following the completion of the acquisition, the director now owns 16,653 shares of the company’s stock, valued at approximately $300,753.18. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christian A. Brickman acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was acquired at an average price of $17.54 per share, with a total value of $350,800.00. Following the acquisition, the chief executive officer now directly owns 182,543 shares of the company’s stock, valued at approximately $3,201,804.22. The disclosure for this purchase can be found here. Insiders bought a total of 34,250 shares of company stock worth $606,555 over the last three months. Insiders own 0.97% of the company’s stock.
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Sally Beauty Holdings, Inc. (SBH) opened at 20.49 on Thursday. Sally Beauty Holdings, Inc. has a 1-year low of $17.26 and a 1-year high of $30.17. The stock’s 50 day moving average is $19.55 and its 200-day moving average is $19.66. The company has a market capitalization of $2.72 billion, a P/E ratio of 12.51 and a beta of 0.66.
Sally Beauty Holdings (NYSE:SBH) last released its quarterly earnings results on Thursday, August 3rd. The specialty retailer reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $998.04 million for the quarter, compared to the consensus estimate of $1 billion. Sally Beauty Holdings had a net margin of 5.89% and a negative return on equity of 80.60%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. On average, analysts expect that Sally Beauty Holdings, Inc. will post $1.82 earnings per share for the current fiscal year.
Sally Beauty Holdings declared that its Board of Directors has authorized a share repurchase plan on Thursday, August 31st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to buy up to 40.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
A number of analysts recently weighed in on the stock. Wells Fargo & Company reissued a “market perform” rating and issued a $20.00 price objective (down from $21.50) on shares of Sally Beauty Holdings in a research report on Wednesday, August 9th. BidaskClub upgraded shares of Sally Beauty Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Sally Beauty Holdings in a research note on Wednesday. KeyCorp restated a “hold” rating on shares of Sally Beauty Holdings in a research note on Wednesday, September 6th. Finally, BMO Capital Markets set a $21.00 target price on shares of Sally Beauty Holdings and gave the stock a “hold” rating in a research note on Saturday, August 5th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $24.50.
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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