Public Employees Retirement System of Ohio Sells 109,249 Shares of Sally Beauty Holdings, Inc. $SBH

Key Points

• The Public Employees Retirement System of Ohio significantly reduced its stake in Sally Beauty Holdings by selling 109,249 shares, resulting in a total holding of just 5,997 shares valued at $56,000.
• Several institutional investors have increased their positions in Sally Beauty, with notable raises from firms such as Golden State Wealth Management LLC and GAMMA Investing LLC, indicating growing interest in the company.
• Sally Beauty received multiple upgrades from analysts, with TD Cowen raising its price target from $13.00 to $16.00 and Canaccord Genuity increasing it to $19.00, reflecting positive sentiment towards the stock.

Public Employees Retirement System of Ohio decreased its holdings in Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 94.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,997 shares of the specialty retailer's stock after selling 109,249 shares during the period. Public Employees Retirement System of Ohio's holdings in Sally Beauty were worth $56,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in Sally Beauty by 100.0% in the first 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. Parallel Advisors LLC raised its stake 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 buying an additional 3,304 shares during the period. GAMMA Investing LLC raised its stake in 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 buying an additional 4,200 shares during the period. CWM LLC raised its stake in Sally Beauty by 123.7% in the first quarter. CWM LLC now owns 8,949 shares of the specialty retailer's stock valued at $81,000 after buying an additional 4,948 shares during the period. Finally, EP Wealth Advisors LLC bought a new stake in Sally Beauty in the first quarter valued at approximately $100,000.

Insiders Place Their Bets

In related news, CEO Denise Paulonis bought 4,500 shares of the business's stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $11.74 per share, with a total value of $52,830.00. Following the acquisition, the chief executive officer owned 366,865 shares of the company's stock, valued at $4,306,995.10. This represents a 1.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diana Sue Ferguson acquired 2,500 shares of the stock in a transaction dated Thursday, August 7th. The stock was acquired 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 owned 7,912 shares in the company, valued at approximately $95,102.24. This represents a 46.19% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 10,500 shares of company stock valued at $132,125. 1.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SBH has been the topic of several research analyst reports. TD Cowen upped their price objective on Sally Beauty from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Canaccord Genuity Group increased their target price on Sally Beauty from $15.00 to $19.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Cowen reiterated a "buy" rating on shares of Sally Beauty in a research note on Thursday, September 4th. Zacks Research upgraded Sally Beauty from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Sally Beauty in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Sally Beauty has an average rating of "Moderate Buy" and a consensus price target of $13.88.

Sally Beauty Trading Down 3.8%

NYSE SBH opened at $15.87 on Wednesday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 8.53 and a beta of 1.34. The company has a quick ratio of 0.49, a current ratio of 2.41 and a debt-to-equity ratio of 1.16. Sally Beauty Holdings, Inc. has a twelve month low of $7.54 and a twelve month high of $16.82. The business's fifty day moving average is $14.01 and its 200 day moving average is $10.70.

Sally Beauty (NYSE:SBH - Get Free Report) last announced its earnings results 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 firm had revenue of $933.31 million for the quarter, compared to the consensus estimate of $928.78 million. Sally Beauty had a return on equity of 28.11% and a net margin of 5.26%.The business's quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. Sally Beauty has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect 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.

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