Algert Global LLC Sells 225,500 Shares of Sally Beauty Holdings, Inc. $SBH

Key Points

• Algert Global LLC reduced its stake in Sally Beauty Holdings, Inc. by 77.9%, selling 225,500 shares, and now holds approximately 63,895 shares valued at $577,000.
• CEO Denise Paulonis acquired 4,500 shares of Sally Beauty, increasing her stake by 1.24%, while Director Diana Sue Ferguson purchased 2,500 shares, boosting her ownership by 46.19%.
• Canaccord Genuity raised Sally Beauty's price target from $14.00 to $15.00, while currently, the stock holds a consensus rating of "Hold" among analysts.

Algert Global LLC cut its stake in Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 77.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,895 shares of the specialty retailer's stock after selling 225,500 shares during the quarter. Algert Global LLC owned approximately 0.06% of Sally Beauty worth $577,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SBH. Millennium Management LLC raised its position in shares of Sally Beauty by 1,177.7% in the fourth quarter. Millennium Management LLC now owns 1,136,121 shares of the specialty retailer's stock valued at $11,872,000 after purchasing an additional 1,047,199 shares during the period. Nuveen LLC bought a new position in shares of Sally Beauty in the first quarter valued at about $8,600,000. CenterBook Partners LP raised its position in shares of Sally Beauty by 359.3% in the first quarter. CenterBook Partners LP now owns 961,230 shares of the specialty retailer's stock valued at $8,680,000 after purchasing an additional 751,943 shares during the period. Ranmore Fund Management Ltd raised its position in shares of Sally Beauty by 74.2% in the first quarter. Ranmore Fund Management Ltd now owns 1,420,000 shares of the specialty retailer's stock valued at $12,823,000 after purchasing an additional 605,000 shares during the period. Finally, Lightrock Netherlands B.V. raised its position in shares of Sally Beauty by 65.0% in the first quarter. Lightrock Netherlands B.V. now owns 1,479,307 shares of the specialty retailer's stock valued at $13,380,000 after purchasing an additional 583,000 shares during the period.

Insider Activity

In other news, CEO Denise Paulonis acquired 4,500 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average price of $11.74 per share, with a total value of $52,830.00. Following the completion of the transaction, the chief executive officer directly owned 366,865 shares of the company's stock, valued at $4,306,995.10. This trade represents a 1.24% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diana Sue Ferguson acquired 2,500 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were purchased at an average cost of $12.02 per share, with a total value of $30,050.00. Following the transaction, the director directly owned 7,912 shares of the company's stock, valued at $95,102.24. This trade represents a 46.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.56% of the company's stock.

Sally Beauty Trading Up 3.1%

SBH stock opened at $13.5890 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.49 and a current ratio of 2.41. The company's 50-day simple moving average is $10.49 and its 200 day simple moving average is $9.39. Sally Beauty Holdings, Inc. has a 52 week low of $7.54 and a 52 week high of $14.79. The company has a market capitalization of $1.34 billion, a PE ratio of 7.31 and a beta of 1.30.

Sally Beauty (NYSE:SBH - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The specialty retailer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.09. Sally Beauty had a net margin of 5.26% and a return on equity of 28.11%. The business had revenue of $933.31 million during the quarter, compared to analysts' expectations of $928.78 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. Sally Beauty's revenue was down 1.0% compared to the same quarter last year. Sally Beauty has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Sally Beauty Holdings, Inc. will post 1.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

SBH has been the topic of several research reports. Canaccord Genuity Group upped their price target on shares of Sally Beauty from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of Sally Beauty from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $12.88.

Sally Beauty Company 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.

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