Sally Beauty Holdings, Inc. (NYSE:SBH) saw a significant decrease in short interest in July. As of July 31st, there was short interest totalling 23,014,300 shares, a decrease of 9.3% from the June 30th total of 25,384,700 shares. Based on an average daily volume of 2,190,000 shares, the days-to-cover ratio is currently 10.5 days. Approximately 19.3% of the shares of the stock are sold short.
In other news, CEO Christian A. Brickman acquired 5,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were acquired at an average price of $14.93 per share, for a total transaction of $74,650.00. Following the completion of the transaction, the chief executive officer now directly owns 360,332 shares of the company’s stock, valued at approximately $5,379,756.76. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edward W. Rabin acquired 7,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $13.25 per share, for a total transaction of $92,750.00. Following the transaction, the director now directly owns 19,732 shares of the company’s stock, valued at $261,449. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 13,500 shares of company stock worth $189,795. 1.04% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Prudential Financial Inc. lifted its position in shares of Sally Beauty by 225.7% during the second quarter. Prudential Financial Inc. now owns 2,394,550 shares of the specialty retailer’s stock valued at $31,943,000 after buying an additional 1,659,403 shares during the last quarter. Norges Bank purchased a new stake in shares of Sally Beauty during the fourth quarter valued at about $23,087,000. Champlain Investment Partners LLC raised its position in shares of Sally Beauty by 13.1% in the 1st quarter. Champlain Investment Partners LLC now owns 8,444,630 shares of the specialty retailer’s stock valued at $155,466,000 after purchasing an additional 976,690 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Sally Beauty by 2,747.1% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 867,045 shares of the specialty retailer’s stock valued at $15,966,000 after purchasing an additional 836,591 shares during the last quarter. Finally, Ardevora Asset Management LLP raised its position in shares of Sally Beauty by 41.5% in the 2nd quarter. Ardevora Asset Management LLP now owns 2,769,200 shares of the specialty retailer’s stock valued at $36,941,000 after purchasing an additional 812,700 shares during the last quarter.
Sally Beauty (NYSE:SBH) last issued its earnings results on Wednesday, July 31st. The specialty retailer reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Sally Beauty had a net margin of 6.65% and a negative return on equity of 151.31%. The company had revenue of $975.20 million for the quarter, compared to analysts’ expectations of $986.27 million. During the same period in the prior year, the business earned $0.60 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. Sell-side analysts predict that Sally Beauty will post 2.21 earnings per share for the current year.
A number of research firms have weighed in on SBH. DA Davidson boosted their price objective on shares of Sally Beauty from $14.00 to $16.50 and gave the company an “add” rating in a research report on Tuesday, June 25th. Zacks Investment Research upgraded shares of Sally Beauty from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. Jefferies Financial Group upgraded shares of Sally Beauty from an “underperform” rating to a “hold” rating and cut their price target 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, BMO Capital Markets upgraded shares of Sally Beauty to a “market perform” rating and set a $17.00 price target on the stock in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.08.
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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