Stock Traders Purchase Large Volume of Call Options on Sally Beauty Holdings (SBH)
Sally Beauty Holdings, Inc. (NYSE:SBH) was the recipient of unusually large options trading activity on Thursday. Stock traders bought 4,109 call options on the company. This is an increase of approximately Infinity compared to the average volume of 0 call options.
Sally Beauty Holdings (NYSE SBH) opened at $15.89 on Tuesday. The company has a debt-to-equity ratio of -4.87, a current ratio of 2.04 and a quick ratio of 0.42. The firm has a market cap of $1,983.04, a P/E ratio of 8.58, a PEG ratio of 1.43 and a beta of 0.66. Sally Beauty Holdings has a 52-week low of $14.05 and a 52-week high of $27.71.
Sally Beauty Holdings (NYSE:SBH) last posted its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The firm had revenue of $974.20 million during the quarter, compared to analyst estimates of $989.96 million. Sally Beauty Holdings had a net margin of 5.46% and a negative return on equity of 74.84%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. analysts forecast that Sally Beauty Holdings will post 1.92 EPS for the current year.
Sally Beauty Holdings declared that its board has authorized a share repurchase plan on Thursday, August 31st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to reacquire up to 40.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, CEO Christian A. Brickman acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were purchased at an average price of $17.54 per share, with a total value of $350,800.00. Following the completion of the acquisition, the chief executive officer now owns 182,543 shares in the company, valued at $3,201,804.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Janus Henderson Group PLC acquired a new position in shares of Sally Beauty Holdings in the second quarter valued at approximately $179,760,000. Nordea Investment Management AB raised its position in shares of Sally Beauty Holdings by 1.9% in the third quarter. Nordea Investment Management AB now owns 6,169,915 shares of the specialty retailer’s stock valued at $120,807,000 after buying an additional 112,801 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Sally Beauty Holdings by 10.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 5,666,809 shares of the specialty retailer’s stock valued at $110,956,000 after buying an additional 518,520 shares during the last quarter. State Street Corp raised its position in shares of Sally Beauty Holdings by 0.4% in the second quarter. State Street Corp now owns 4,039,329 shares of the specialty retailer’s stock valued at $81,789,000 after buying an additional 14,768 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Sally Beauty Holdings by 3.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,565,526 shares of the specialty retailer’s stock valued at $50,233,000 after buying an additional 85,660 shares during the last quarter.
A number of research firms recently commented on SBH. Zacks Investment Research downgraded shares of Sally Beauty Holdings from a “hold” rating to a “sell” rating in a report on Saturday. Cowen and Company reissued a “buy” rating and set a $24.00 price objective on shares of Sally Beauty Holdings in a report on Thursday, September 28th. KeyCorp reissued a “hold” rating on shares of Sally Beauty Holdings in a report on Wednesday, September 6th. BidaskClub raised shares of Sally Beauty Holdings from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, BMO Capital Markets decreased their price objective on shares of Sally Beauty Holdings from $21.00 to $16.00 and set a “market perform” rating on the stock in a report on Wednesday, November 15th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the stock. Sally Beauty Holdings has a consensus rating of “Hold” and a consensus target price of $19.27.
About Sally Beauty Holdings
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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