Point72 Asia Singapore Pte. Ltd. Buys New Shares in Sally Beauty Holdings, Inc. (NYSE:SBH)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Sally Beauty Holdings, Inc. (NYSE:SBH) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 16,291 shares of the specialty retailer’s stock, valued at approximately $221,000.

Several other hedge funds have also recently made changes to their positions in SBH. Marshall Wace LLP acquired a new position in shares of Sally Beauty in the 2nd quarter valued at $11,796,000. Dimensional Fund Advisors LP increased its position in shares of Sally Beauty by 34.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,287,674 shares of the specialty retailer’s stock valued at $35,276,000 after acquiring an additional 833,720 shares during the period. Millennium Management LLC increased its position in shares of Sally Beauty by 945.0% in the 2nd quarter. Millennium Management LLC now owns 847,956 shares of the specialty retailer’s stock valued at $9,099,000 after acquiring an additional 766,815 shares during the period. FMR LLC grew its position in Sally Beauty by 2.6% during the 3rd quarter. FMR LLC now owns 15,396,347 shares of the specialty retailer’s stock worth $208,928,000 after purchasing an additional 387,736 shares during the period. Finally, Maverick Capital Ltd. grew its position in Sally Beauty by 141.3% during the 2nd quarter. Maverick Capital Ltd. now owns 262,481 shares of the specialty retailer’s stock worth $2,816,000 after purchasing an additional 153,707 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SBH shares. TD Cowen raised Sally Beauty from a “hold” rating to a “buy” rating and increased 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. StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd. DA Davidson increased their price target on Sally Beauty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Finally, Morgan Stanley increased their price target on Sally Beauty from $8.00 to $12.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Sally Beauty presently has a consensus rating of “Hold” and an average target price of $13.50.

Insider Activity at Sally Beauty

In related 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 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 position. The sale was disclosed in a filing with the SEC, 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 shares were sold at an average price of $14.49, for a total transaction of $195,615.00. Following the completion of the transaction, the insider now directly owns 42,431 shares in the company, valued at $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 Up 1.2 %

SBH stock opened at $13.87 on Thursday. The company’s 50-day simple moving average is $13.14 and its 200-day simple moving average is $12.12. The company has a quick ratio of 0.45, a current ratio of 2.20 and a debt-to-equity ratio of 1.56. Sally Beauty Holdings, Inc. has a 52-week low of $9.06 and a 52-week high of $14.79. The firm has a market cap of $1.41 billion, a P/E ratio of 9.52 and a beta of 1.51.

Sally Beauty (NYSE:SBH) last posted its earnings results on Thursday, November 14th. The specialty retailer reported $0.50 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $935.88 million. During the same period in the prior year, the company posted $0.42 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities analysts forecast that Sally Beauty Holdings, Inc. will post 1.85 EPS for the current fiscal year.

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 products, skin and nail care products, styling tools, and other beauty products for retail customers, salons, and salon professionals.