Cubist Systematic Strategies LLC Takes $1.43 Million Position in Sally Beauty Holdings, Inc. (SBH)
Cubist Systematic Strategies LLC bought a new stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 73,059 shares of the specialty retailer’s stock, valued at approximately $1,430,000. Cubist Systematic Strategies LLC owned approximately 0.06% of Sally Beauty at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in SBH. US Bancorp DE lifted its position in shares of Sally Beauty by 227.6% during the 2nd quarter. US Bancorp DE now owns 5,100 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 3,543 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sally Beauty by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,427 shares of the specialty retailer’s stock valued at $110,000 after purchasing an additional 559 shares during the last quarter. Flinton Capital Management LLC raised its stake in Sally Beauty by 86.8% in the 2nd quarter. Flinton Capital Management LLC now owns 7,952 shares of the specialty retailer’s stock valued at $161,000 after purchasing an additional 3,696 shares during the last quarter. Invictus RG acquired a new position in Sally Beauty in the 3rd quarter valued at $202,000. Finally, M&T Bank Corp raised its stake in Sally Beauty by 0.6% in the 2nd quarter. M&T Bank Corp now owns 10,373 shares of the specialty retailer’s stock valued at $210,000 after purchasing an additional 65 shares during the last quarter.
In other Sally Beauty news, Director Edward W. Rabin purchased 3,750 shares of the stock in a transaction dated Tuesday, November 21st. The stock was acquired at an average cost of $15.49 per share, for a total transaction of $58,087.50. Following the acquisition, the director now owns 14,351 shares in the company, valued at approximately $222,296.99. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.97% of the company’s stock.
SBH has been the subject of a number of recent research reports. Robert W. Baird set a $24.00 target price on Sally Beauty and gave the stock a “buy” rating in a research note on Tuesday, November 14th. DA Davidson raised Sally Beauty from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Monday, October 16th. Cowen reaffirmed a “buy” rating and issued a $24.00 target price on shares of Sally Beauty in a research note on Thursday, September 28th. Zacks Investment Research downgraded Sally Beauty from a “buy” rating to a “hold” rating in a research note on Saturday, October 21st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Sally Beauty in a research note on Monday, October 16th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. Sally Beauty presently has an average rating of “Hold” and a consensus target price of $18.82.
Sally Beauty Holdings, Inc. (NYSE SBH) opened at $16.92 on Friday. The firm has a market capitalization of $2,173.12, a price-to-earnings ratio of 9.40, a PEG ratio of 1.57 and a beta of 0.66. The company has a current ratio of 2.04, a quick ratio of 0.42 and a debt-to-equity ratio of -4.87. Sally Beauty Holdings, Inc. has a twelve month low of $14.05 and a twelve month high of $27.30.
Sally Beauty (NYSE:SBH) last released its quarterly earnings results on Wednesday, November 15th. The specialty retailer reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The business had revenue of $974.20 million for the quarter, compared to analysts’ expectations of $989.96 million. Sally Beauty had a negative return on equity of 74.84% and a net margin of 5.46%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. research analysts predict that Sally Beauty Holdings, Inc. will post 1.91 earnings per share for the current year.
Sally Beauty declared that its Board of Directors has approved a share repurchase plan on Thursday, August 31st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to repurchase up to 40.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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About Sally Beauty
Sally Beauty Holdings, Inc is an international specialty retailer and distributor of professional beauty supplies with operations primarily in North America, South America and Europe. The Company operates through two business segments: Sally Beauty Supply and Beauty Systems Group (BSG). Sally Beauty Supply is a domestic and international chain of cash and carry retail stores, which offers professional beauty supplies to both salon professionals and retail customers primarily in North America, Puerto Rico, and parts of Europe and South America.
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