Kayne Anderson Rudnick Investment Management LLC reduced its stake in Sally Beauty Holdings, Inc. (NYSE:SBH) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,044,388 shares of the specialty retailer’s stock after selling 33,775 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 3.36% of Sally Beauty worth $53,952,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Advisory Services Network LLC boosted its position in shares of Sally Beauty by 118.1% in the 1st quarter. Advisory Services Network LLC now owns 1,684 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 912 shares in the last quarter. Royce & Associates LP boosted its position in shares of Sally Beauty by 40.6% in the 1st quarter. Royce & Associates LP now owns 2,510 shares of the specialty retailer’s stock worth $46,000 after purchasing an additional 725 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Sally Beauty in the 2nd quarter worth approximately $151,000. CWM Advisors LLC bought a new stake in shares of Sally Beauty in the 2nd quarter worth approximately $153,000. Finally, Teza Capital Management LLC bought a new stake in shares of Sally Beauty in the 2nd quarter worth approximately $167,000.
SBH traded down $0.38 during mid-day trading on Monday, reaching $14.78. 66,681 shares of the company traded hands, compared to its average volume of 1,953,510. The stock has a market capitalization of $1.82 billion, a P/E ratio of 6.84, a P/E/G ratio of 2.28 and a beta of 0.44. The company’s fifty day moving average price is $13.33 and its 200-day moving average price is $15.04. Sally Beauty Holdings, Inc. has a 52-week low of $11.46 and a 52-week high of $23.61.
Sally Beauty (NYSE:SBH) last announced its earnings results on Wednesday, July 31st. The specialty retailer reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $975.20 million during the quarter, compared to analyst estimates of $986.27 million. Sally Beauty had a net margin of 6.65% and a negative return on equity of 151.31%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. On average, research analysts forecast that Sally Beauty Holdings, Inc. will post 2.21 earnings per share for the current year.
SBH has been the subject of a number of recent analyst reports. ValuEngine lowered shares of Sally Beauty from a “sell” rating to a “strong sell” rating in a report on Monday, June 24th. Bank of America restated an “underperform” rating and issued a $13.00 price objective (down from $15.00) on shares of Sally Beauty in a report on Tuesday, June 25th. Jefferies Financial Group upgraded shares of Sally Beauty from an “underperform” rating to a “hold” rating and decreased their price objective for the stock from $14.00 to $12.00 in a report on Friday, July 12th. They noted that the move was a valuation call. Wells Fargo & Co restated a “hold” rating on shares of Sally Beauty in a report on Tuesday, June 25th. Finally, DA Davidson decreased their price objective on shares of Sally Beauty to $12.50 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.50.
In related news, Director John A. Miller bought 40,500 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was acquired at an average cost of $12.21 per share, for a total transaction of $494,505.00. Following the purchase, the director now owns 51,873 shares in the company, valued at $633,369.33. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Edward W. Rabin bought 7,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $13.25 per share, with a total value of $92,750.00. Following the completion of the purchase, the director now owns 19,732 shares in the company, valued at approximately $261,449. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 58,500 shares of company stock valued at $718,425. Company insiders own 1.04% of the company’s stock.
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, skin and nail care, styling tools, and other beauty products for retail customers and salon professionals.
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