Exchange Traded Concepts LLC Purchases New Position in Sally Beauty Holdings, Inc. (NYSE:SBH)

Exchange Traded Concepts LLC purchased a new stake in Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 115,350 shares of the specialty retailer's stock, valued at approximately $1,042,000. Exchange Traded Concepts LLC owned approximately 0.11% of Sally Beauty as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in Sally Beauty by 536.4% in the first quarter. Parallel Advisors LLC now owns 3,920 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 3,304 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Sally Beauty by 119.1% in the fourth quarter. Federated Hermes Inc. now owns 3,702 shares of the specialty retailer's stock valued at $39,000 after acquiring an additional 2,012 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Sally Beauty by 820.3% in the first quarter. GAMMA Investing LLC now owns 4,712 shares of the specialty retailer's stock valued at $43,000 after acquiring an additional 4,200 shares during the period. Wealth Advisory Solutions LLC acquired a new stake in shares of Sally Beauty in the fourth quarter valued at approximately $105,000. Finally, Quarry LP boosted its holdings in shares of Sally Beauty by 302.2% in the fourth quarter. Quarry LP now owns 11,986 shares of the specialty retailer's stock valued at $125,000 after acquiring an additional 9,006 shares during the period.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Sally Beauty from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Sally Beauty presently has an average rating of "Hold" and a consensus target price of $12.70.

Sally Beauty Trading Down 0.8%

NYSE:SBH opened at $8.51 on Friday. The stock has a fifty day moving average price of $8.58 and a two-hundred day moving average price of $9.65. The stock has a market capitalization of $858.07 million, a price-to-earnings ratio of 4.78 and a beta of 1.25. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.44 and a current ratio of 2.32. Sally Beauty Holdings, Inc. has a 1 year low of $7.54 and a 1 year high of $14.79.

Sally Beauty (NYSE:SBH - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The specialty retailer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. The firm had revenue of $883.15 million during the quarter, compared to analysts' expectations of $901.00 million. Sally Beauty had a return on equity of 29.48% and a net margin of 5.03%. Sally Beauty's revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 earnings per share. As a group, sell-side analysts anticipate that Sally Beauty Holdings, Inc. will post 1.81 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.

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