Maverick Capital Ltd. Increases Stake in Sally Beauty Holdings, Inc. (NYSE:SBH)

Maverick Capital Ltd. raised its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 16.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 305,505 shares of the specialty retailer’s stock after buying an additional 43,024 shares during the period. Maverick Capital Ltd. owned about 0.30% of Sally Beauty worth $4,146,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBH. Foundry Partners LLC purchased a new stake in shares of Sally Beauty in the second quarter worth $535,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Sally Beauty in the third quarter worth $771,000. Wolverine Asset Management LLC increased its stake in shares of Sally Beauty by 120.7% in the second quarter. Wolverine Asset Management LLC now owns 100,567 shares of the specialty retailer’s stock worth $1,079,000 after purchasing an additional 55,000 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of Sally Beauty in the second quarter worth $559,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Sally Beauty in the first quarter worth $64,000.

Analysts Set New Price Targets

SBH has been the subject of a number of analyst reports. StockNews.com raised shares of Sally Beauty from a “hold” rating to a “buy” rating in a research note on Saturday, November 23rd. DA Davidson raised their target price on shares of Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Morgan Stanley raised their target price on shares of Sally Beauty from $8.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. TD Cowen raised shares of Sally Beauty from a “hold” rating to a “buy” rating and raised their target price for the company from $14.00 to $16.00 in a research note on Monday, November 25th. Finally, Raymond James raised shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.50.

Sally Beauty Price Performance

SBH stock opened at $13.93 on Friday. Sally Beauty Holdings, Inc. has a 52 week low of $9.06 and a 52 week high of $14.79. The company has a quick ratio of 0.45, a current ratio of 2.20 and a debt-to-equity ratio of 1.56. The company has a fifty day simple moving average of $13.12 and a two-hundred day simple moving average of $12.07. The firm has a market capitalization of $1.42 billion, a P/E ratio of 9.67 and a beta of 1.53.

Sally Beauty (NYSE:SBH) last released its quarterly earnings data on Thursday, November 14th. The specialty retailer reported $0.50 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $935.88 million. During the same quarter last year, the business earned $0.42 earnings per share. Sally Beauty’s quarterly revenue was up 1.5% compared to the same quarter last year. Analysts anticipate that Sally Beauty Holdings, Inc. will post 1.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Sally Beauty

In other news, CAO Kim Mcintosh sold 4,300 shares of the firm’s stock in a transaction dated 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 owns 16,685 shares in the company, valued at approximately $242,433.05. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott C. Sherman sold 13,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.49, for a total transaction of $195,615.00. Following the completion of the sale, the insider now owns 42,431 shares of the company’s stock, valued at $614,825.19. This trade represents a 24.14 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by company insiders.

Sally Beauty Profile

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.