Polaris Capital Management LLC Trims Holdings in Sally Beauty Holdings, Inc. $SBH

Key Points

• Polaris Capital Management LLC reduced its stake in Sally Beauty Holdings, Inc. by 6.3%, now owning 2,116,929 shares valued at approximately $19.6 million.
• Several institutional investors, including Vanguard Group and Victory Capital Management, have increased their stakes in Sally Beauty, indicating potential confidence in the company's performance.
• Wall Street analysts upgraded Sally Beauty's rating from a "hold" to a "buy", with an average target price of $13.88, reflecting positive sentiment towards its future prospects.

Polaris Capital Management LLC reduced its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 6.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,116,929 shares of the specialty retailer's stock after selling 141,500 shares during the quarter. Polaris Capital Management LLC owned 2.10% of Sally Beauty worth $19,603,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Sally Beauty by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 12,974,982 shares of the specialty retailer's stock valued at $117,164,000 after buying an additional 546,267 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Sally Beauty by 9.3% during the first quarter. Victory Capital Management Inc. now owns 4,013,531 shares of the specialty retailer's stock worth $36,242,000 after purchasing an additional 342,225 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Sally Beauty by 10.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,868,855 shares of the specialty retailer's stock worth $25,906,000 after purchasing an additional 263,269 shares during the last quarter. Invenomic Capital Management LP lifted its stake in Sally Beauty by 160.3% during the first quarter. Invenomic Capital Management LP now owns 1,889,310 shares of the specialty retailer's stock worth $17,060,000 after purchasing an additional 1,163,619 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its stake in Sally Beauty by 9.4% during the first quarter. Jupiter Asset Management Ltd. now owns 1,876,396 shares of the specialty retailer's stock worth $16,944,000 after purchasing an additional 160,599 shares during the last quarter.

Insider Activity at Sally Beauty

In related news, 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 acquired at an average cost of $12.02 per share, for a total transaction of $30,050.00. Following the completion of the purchase, the director directly owned 7,912 shares in the company, valued at $95,102.24. This trade represents a 46.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Max R. Rangel acquired 3,500 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were bought at an average price of $14.07 per share, for a total transaction of $49,245.00. Following the completion of the purchase, the director owned 3,500 shares of the company's stock, valued at approximately $49,245. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 10,500 shares of company stock worth $132,125 over the last ninety days. 1.56% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Sally Beauty from a "hold" rating to a "buy" rating in a research note on Friday. Zacks Research upgraded Sally Beauty from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Cowen restated a "buy" rating on shares of Sally Beauty in a research note on Thursday, September 4th. Weiss Ratings restated a "hold (c)" rating on shares of Sally Beauty in a research note on Saturday, September 27th. Finally, TD Cowen raised their price objective on Sally Beauty from $13.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Sally Beauty currently has an average rating of "Moderate Buy" and an average target price of $13.88.

Sally Beauty Price Performance

Shares of NYSE SBH opened at $16.65 on Friday. Sally Beauty Holdings, Inc. has a 1-year low of $7.54 and a 1-year high of $16.80. 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 business's fifty day moving average price is $13.77 and its two-hundred day moving average price is $10.58. The firm has a market capitalization of $1.65 billion, a PE ratio of 8.95 and a beta of 1.34.

Sally Beauty (NYSE:SBH - Get Free Report) last issued its earnings results 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. The firm had revenue of $933.31 million for the quarter, compared to analyst estimates of $928.78 million. Sally Beauty had a return on equity of 28.11% and a net margin of 5.26%.The firm's revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. Sally Beauty has set its FY 2025 guidance at EPS. On average, research analysts expect that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current 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.

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