Great Lakes Advisors LLC Acquires 405,801 Shares of Sally Beauty Holdings, Inc. $SBH

Key Points

• Great Lakes Advisors LLC significantly increased its holdings in Sally Beauty Holdings, Inc. by 156.2%, acquiring an additional 405,801 shares during the first quarter, bringing its total ownership to 665,624 shares valued at approximately $6 million.
• Multiple institutional investors raised their stakes in Sally Beauty, with Northern Trust Corp increasing its position by 6.6%, and other firms like BNP Paribas and Deutsche Bank also boosting their investments in the company during the fourth quarter.
• Analyst reports show a mix of ratings for Sally Beauty, with Zacks Research upgrading it to "strong buy" and an average target price of $12.88, while the stock currently trades at around $14.64.

Great Lakes Advisors LLC grew its position in Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 156.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 665,624 shares of the specialty retailer's stock after purchasing an additional 405,801 shares during the period. Great Lakes Advisors LLC owned approximately 0.65% of Sally Beauty worth $6,011,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in SBH. SummerHaven Investment Management LLC lifted its stake in Sally Beauty by 1.9% during the first quarter. SummerHaven Investment Management LLC now owns 72,690 shares of the specialty retailer's stock valued at $656,000 after purchasing an additional 1,323 shares during the last quarter. Rafferty Asset Management LLC increased its stake in Sally Beauty by 4.1% in the 1st quarter. Rafferty Asset Management LLC now owns 33,979 shares of the specialty retailer's stock valued at $307,000 after buying an additional 1,350 shares during the period. Golden State Wealth Management LLC increased its stake in Sally Beauty by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 3,470 shares of the specialty retailer's stock valued at $31,000 after buying an additional 1,735 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Sally Beauty by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,595 shares of the specialty retailer's stock worth $547,000 after purchasing an additional 2,026 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Sally Beauty by 23.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,490 shares of the specialty retailer's stock worth $149,000 after purchasing an additional 3,095 shares during the last quarter.

Analyst Upgrades and Downgrades

SBH has been the subject of a number of research reports. Wall Street Zen raised shares of Sally Beauty from a "hold" rating to a "buy" rating in a report on Saturday. TD Cowen boosted their target price on shares of Sally Beauty from $13.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. Zacks Research raised shares of Sally Beauty from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Canaccord Genuity Group boosted their target price on shares of Sally Beauty from $15.00 to $19.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Cowen reissued a "buy" rating on shares of Sally Beauty in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sally Beauty currently has an average rating of "Moderate Buy" and a consensus price target of $13.88.

Insider Activity

In related news, Director Diana Sue Ferguson acquired 2,500 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were bought at an average cost of $12.02 per share, with a total value of $30,050.00. Following the completion of 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Denise Paulonis acquired 4,500 shares of the company's stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $11.74 per share, for a total transaction 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 approximately $4,306,995.10. This trade represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 10,500 shares of company stock valued at $132,125 over the last ninety days. 1.56% of the stock is currently owned by company insiders.

Sally Beauty Stock Performance

SBH stock traded up $0.77 during trading hours on Monday, reaching $15.77. The stock had a trading volume of 910,808 shares, compared to its average volume of 2,143,418. The stock has a market capitalization of $1.56 billion, a PE ratio of 8.53 and a beta of 1.38. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.41 and a quick ratio of 0.49. The stock has a 50-day simple moving average of $12.02 and a 200 day simple moving average of $9.89. Sally Beauty Holdings, Inc. has a fifty-two week low of $7.54 and a fifty-two week high of $15.79.

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

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.