Bronte Capital Management Pty Ltd. Lowers Stake in Sally Beauty Holdings, Inc. $SBH

Key Points

• Bronte Capital Management cut its stake in Sally Beauty Holdings by 70.1% in the first quarter, selling 516,513 shares and leaving it with 220,737 shares worth about $3.06 million.
• Sally Beauty reported better-than-expected Q1 results, with EPS of $0.44 versus $0.41 expected and revenue of $903.38 million, while also guiding Q3 2026 EPS to $0.52-$0.56.
• Despite mixed analyst sentiment, the stock had recent rating changes including a buy upgrade from Wall Street Zen and target cuts from Morgan Stanley and TD Cowen; overall, analysts currently rate SBH Hold with an average target price of $17.00.

Bronte Capital Management Pty Ltd. reduced its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 70.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 220,737 shares of the specialty retailer's stock after selling 516,513 shares during the period. Bronte Capital Management Pty Ltd. owned approximately 0.23% of Sally Beauty worth $3,057,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBH. SG Americas Securities LLC lifted its stake in Sally Beauty by 864.1% during the fourth quarter. SG Americas Securities LLC now owns 83,189 shares of the specialty retailer's stock worth $1,186,000 after purchasing an additional 74,560 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Sally Beauty by 45.4% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 404,212 shares of the specialty retailer's stock worth $5,771,000 after purchasing an additional 126,286 shares in the last quarter. LSV Asset Management increased its position in shares of Sally Beauty by 12.9% during the 4th quarter. LSV Asset Management now owns 3,793,195 shares of the specialty retailer's stock valued at $54,091,000 after purchasing an additional 433,855 shares during the last quarter. American Century Companies Inc. increased its position in shares of Sally Beauty by 174.4% during the 3rd quarter. American Century Companies Inc. now owns 1,660,831 shares of the specialty retailer's stock valued at $27,038,000 after purchasing an additional 1,055,669 shares during the last quarter. Finally, Mangrove Partners IM LLC purchased a new position in shares of Sally Beauty during the 3rd quarter valued at about $1,254,000.

Insider Activity

In other news, CFO Marlo Michelle Cormier Platz sold 42,771 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $12.70, for a total value of $543,191.70. Following the transaction, the chief financial officer owned 138,145 shares in the company, valued at approximately $1,754,441.50. This trade represents a 23.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company's stock.

Sally Beauty Trading Down 0.5%

NYSE SBH opened at $14.15 on Friday. Sally Beauty Holdings, Inc. has a 1-year low of $9.34 and a 1-year high of $17.92. The company has a current ratio of 2.34, a quick ratio of 0.55 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average of $13.34 and a 200-day moving average of $14.42. The firm has a market cap of $1.35 billion, a PE ratio of 7.82 and a beta of 1.02.

Sally Beauty (NYSE:SBH - Get Free Report) last issued its earnings results on Monday, May 11th. The specialty retailer reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. The company had revenue of $903.38 million during the quarter, compared to analysts' expectations of $901.42 million. Sally Beauty had a return on equity of 24.95% and a net margin of 4.93%.Sally Beauty's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. Sally Beauty has set its Q3 2026 guidance at 0.520-0.560 EPS. As a group, sell-side analysts forecast that Sally Beauty Holdings, Inc. will post 2.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SBH shares. Wall Street Zen upgraded Sally Beauty from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. Morgan Stanley reduced their price target on shares of Sally Beauty from $16.00 to $13.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 12th. TD Cowen decreased their price target on shares of Sally Beauty from $20.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, May 12th. Finally, Weiss Ratings lowered shares of Sally Beauty from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 18th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $17.00.

Sally Beauty Company Profile

Sally Beauty Holdings, Inc is a leading global specialty retailer and distributor of professional beauty supplies, serving both retail customers and salon professionals. The company operates two primary channels: Sally Beauty Supply, which offers a broad assortment of hair color, hair care, styling, and skincare products; and Beauty Systems Group (BSG), which provides salon-quality products and supplies to professional stylists and salon owners. With a focus on catering to diverse customer needs, Sally Beauty offers well-known brands alongside private label lines, positioning itself as a one-stop source for beauty professionals and enthusiasts alike.

Founded in 1964 and headquartered in Denton, Texas, Sally Beauty has grown through a combination of organic expansion and strategic acquisitions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.