Weiss Asset Management LP Trims Stock Position in Sally Beauty Holdings, Inc. (NYSE:SBH)

Weiss Asset Management LP reduced its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 646,856 shares of the specialty retailer’s stock after selling 30,507 shares during the quarter. Weiss Asset Management LP owned 0.63% of Sally Beauty worth $8,778,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SBH. Foundry Partners LLC acquired a new stake in shares of Sally Beauty during the second quarter worth $535,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Sally Beauty during the third quarter valued at approximately $771,000. Maverick Capital Ltd. raised its holdings in Sally Beauty by 141.3% during the 2nd quarter. Maverick Capital Ltd. now owns 262,481 shares of the specialty retailer’s stock worth $2,816,000 after buying an additional 153,707 shares during the period. Wolverine Asset Management LLC lifted its position in shares of Sally Beauty by 120.7% in the 2nd quarter. Wolverine Asset Management LLC now owns 100,567 shares of the specialty retailer’s stock valued at $1,079,000 after acquiring an additional 55,000 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Sally Beauty by 2.6% during the third quarter. FMR LLC now owns 15,396,347 shares of the specialty retailer’s stock worth $208,928,000 after purchasing an additional 387,736 shares during the period.

Insiders Place Their Bets

In other news, CAO Kim Mcintosh sold 4,300 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.53, for a total value of $62,479.00. Following the completion of the sale, the chief accounting officer now directly owns 16,685 shares in the company, valued at approximately $242,433.05. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Scott C. Sherman sold 13,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.49, for a total value of $195,615.00. Following the sale, the insider now owns 42,431 shares of the company’s stock, valued at $614,825.19. This represents a 24.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SBH shares. TD Cowen raised shares of Sally Beauty from a “hold” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $16.00 in a research report on Monday, November 25th. Morgan Stanley increased their price objective on Sally Beauty from $8.00 to $12.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. StockNews.com upgraded shares of Sally Beauty from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd. DA Davidson upped their price target on shares of Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Finally, Raymond James raised shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Sally Beauty currently has an average rating of “Hold” and an average target price of $13.50.

Sally Beauty Price Performance

Shares of NYSE:SBH opened at $12.91 on Friday. The firm has a market cap of $1.32 billion, a PE ratio of 8.97 and a beta of 1.51. The firm’s fifty day moving average is $13.15 and its 200-day moving average is $12.13. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.45 and a current ratio of 2.20. Sally Beauty Holdings, Inc. has a 52 week low of $9.06 and a 52 week high of $14.79.

Sally Beauty (NYSE:SBH) last issued its earnings results on Thursday, November 14th. The specialty retailer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Sally Beauty had a net margin of 4.13% and a return on equity of 31.37%. The business had revenue of $935.00 million for the quarter, compared to analyst estimates of $935.88 million. During the same period in the prior year, the firm earned $0.42 earnings per share. Sally Beauty’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts predict that Sally Beauty Holdings, Inc. will post 1.85 earnings per share for the current year.

About Sally Beauty

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 products, skin and nail care products, styling tools, and other beauty products for retail customers, salons, and salon professionals.