Invenomic Capital Management LP Has $6.86 Million Stock Position in Sally Beauty Holdings, Inc. (NYSE:SBH)

Invenomic Capital Management LP reduced its position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 68.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 505,371 shares of the specialty retailer’s stock after selling 1,104,454 shares during the quarter. Invenomic Capital Management LP owned about 0.49% of Sally Beauty worth $6,858,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SBH. Centiva Capital LP bought a new position in Sally Beauty during the third quarter valued at $431,000. Cinctive Capital Management LP bought a new position in shares of Sally Beauty in the third quarter worth $834,000. Atom Investors LP bought a new stake in Sally Beauty during the third quarter valued at $1,016,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Sally Beauty during the third quarter valued at $221,000. Finally, Maverick Capital Ltd. boosted its stake in Sally Beauty by 16.4% during the third quarter. Maverick Capital Ltd. now owns 305,505 shares of the specialty retailer’s stock valued at $4,146,000 after buying an additional 43,024 shares during the period.

Analyst Ratings Changes

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

Insider Buying and Selling

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

Sally Beauty Trading Down 0.9 %

Shares of Sally Beauty stock opened at $13.80 on Tuesday. The company has a market capitalization of $1.41 billion, a P/E ratio of 9.67 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.45 and a current ratio of 2.20. The company has a fifty day moving average of $13.14 and a 200 day moving average of $12.10. Sally Beauty Holdings, Inc. has a fifty-two week low of $9.06 and a fifty-two week high of $14.79.

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. The business had revenue of $935.00 million during the quarter, compared to the consensus estimate of $935.88 million. Sally Beauty had a net margin of 4.13% and a return on equity of 31.37%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, sell-side analysts anticipate that Sally Beauty Holdings, Inc. will post 1.85 earnings per share for the current fiscal year.

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.