Ranmore Fund Management Ltd Raises Stock Position in Sally Beauty Holdings, Inc. (NYSE:SBH)

Key Points

• Ranmore Fund Management Ltd increased its stake in Sally Beauty Holdings, Inc. by 74.2%, now owning approximately $12.82 million or 1.39% of the company.
• As of the most recent quarter, Sally Beauty has a market capitalization of $1.17 billion and its stock trades at around $11.87.
• Analysts provide a consensus rating of "Hold" for Sally Beauty, with an average price target of $12.88 per share.

Ranmore Fund Management Ltd lifted its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 74.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,420,000 shares of the specialty retailer's stock after acquiring an additional 605,000 shares during the period. Sally Beauty makes up 7.7% of Ranmore Fund Management Ltd's holdings, making the stock its 5th biggest holding. Ranmore Fund Management Ltd owned 1.39% of Sally Beauty worth $12,823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBH. Vanguard Group Inc. grew its position in Sally Beauty by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 12,974,982 shares of the specialty retailer's stock worth $117,164,000 after purchasing an additional 546,267 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Sally Beauty by 12.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,049,732 shares of the specialty retailer's stock valued at $42,316,000 after acquiring an additional 459,972 shares during the period. ArrowMark Colorado Holdings LLC grew its position in shares of Sally Beauty by 5.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 4,022,723 shares of the specialty retailer's stock valued at $42,037,000 after acquiring an additional 214,108 shares during the period. Victory Capital Management Inc. grew its position in shares of Sally Beauty by 9.3% during the 1st quarter. Victory Capital Management Inc. now owns 4,013,531 shares of the specialty retailer's stock valued at $36,242,000 after acquiring an additional 342,225 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Sally Beauty by 10.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,868,855 shares of the specialty retailer's stock valued at $25,906,000 after acquiring an additional 263,269 shares during the period.

Insider Activity at Sally Beauty

In other news, Director Diana Sue Ferguson bought 2,500 shares of the stock in a transaction 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 purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Denise Paulonis bought 4,500 shares of the stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $11.74 per share, for a total transaction of $52,830.00. Following the completion of the purchase, the chief executive officer directly owned 366,865 shares in the company, valued at approximately $4,306,995.10. This represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.56% of the company's stock.

Sally Beauty Stock Performance

Shares of SBH stock traded down $0.26 during trading on Thursday, reaching $13.29. 1,845,389 shares of the company's stock traded hands, compared to its average volume of 1,899,454. The company has a market capitalization of $1.31 billion, a P/E ratio of 7.14 and a beta of 1.30. The company has a current ratio of 2.41, a quick ratio of 0.49 and a debt-to-equity ratio of 1.16. The firm's 50-day moving average is $9.96 and its 200 day moving average is $9.30. 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 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 company had revenue of $933.31 million for 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%. Sally Beauty's revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS. Equities research analysts expect that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SBH. Canaccord Genuity Group increased their target price on shares of Sally Beauty from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Sally Beauty from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $12.88.

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.