Great Lakes Advisors LLC Buys 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 stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 156.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 665,624 shares of the specialty retailer's stock after buying an additional 405,801 shares during the period. Great Lakes Advisors LLC owned 0.65% of Sally Beauty worth $6,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SBH. Northern Trust Corp raised its position in shares of Sally Beauty by 6.6% during the fourth quarter. Northern Trust Corp now owns 1,338,087 shares of the specialty retailer's stock valued at $13,983,000 after buying an additional 82,714 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Sally Beauty by 60.4% during the fourth quarter. BNP Paribas Financial Markets now owns 357,001 shares of the specialty retailer's stock valued at $3,731,000 after buying an additional 134,467 shares during the last quarter. Deutsche Bank AG raised its position in shares of Sally Beauty by 43.8% during the fourth quarter. Deutsche Bank AG now owns 93,100 shares of the specialty retailer's stock valued at $973,000 after buying an additional 28,374 shares during the last quarter. Graham Capital Management L.P. bought a new stake in shares of Sally Beauty during the fourth quarter valued at approximately $254,000. Finally, Gotham Asset Management LLC raised its position in shares of Sally Beauty by 33.2% during the fourth quarter. Gotham Asset Management LLC now owns 91,632 shares of the specialty retailer's stock valued at $958,000 after buying an additional 22,819 shares during the last quarter.

Wall Street Analyst Weigh In

SBH has been the topic of several recent analyst reports. Zacks Research upgraded shares of Sally Beauty from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Cowen reissued a "buy" rating on shares of Sally Beauty in a report on Thursday, September 4th. TD Cowen raised their target price on shares of Sally Beauty from $13.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Canaccord Genuity Group raised their target price on shares of Sally Beauty from $14.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen lowered shares of Sally Beauty from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $12.88.

Insiders Place Their Bets

In other news, Director Diana Sue Ferguson acquired 2,500 shares of the company's stock in a transaction on Thursday, August 7th. The stock was bought at an average cost of $12.02 per share, with a total value of $30,050.00. Following the completion of the purchase, the director directly owned 7,912 shares of the company's stock, valued at $95,102.24. This represents a 46.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Max R. Rangel acquired 3,500 shares of the company's stock in a transaction on Thursday, September 4th. The shares were purchased at an average cost of $14.07 per share, with a total value of $49,245.00. Following the completion of the purchase, the director directly owned 3,500 shares of the company's stock, valued at $49,245. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 10,500 shares of company stock valued at $132,125 over the last three months. 1.56% of the stock is owned by company insiders.

Sally Beauty Stock Down 0.3%

NYSE SBH opened at $14.64 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 2.41 and a debt-to-equity ratio of 1.16. The company has a fifty day moving average of $11.73 and a two-hundred day moving average of $9.77. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 7.87 and a beta of 1.38. Sally Beauty Holdings, Inc. has a 52 week low of $7.54 and a 52 week high of $14.79.

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