Sally Beauty Holdings, Inc. (NYSE:SBH) Holdings Boosted by Ranmore Fund Management Ltd

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 grew its holdings in Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 74.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,420,000 shares of the specialty retailer's stock after buying an additional 605,000 shares during the period. Sally Beauty accounts for about 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.

A number of other hedge funds have also modified their holdings of SBH. Vanguard Group Inc. increased its position in Sally Beauty by 4.4% during the first 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 during the last quarter. Dimensional Fund Advisors LP increased its position in Sally Beauty by 12.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,049,732 shares of the specialty retailer's stock worth $42,316,000 after purchasing an additional 459,972 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its position in Sally Beauty by 5.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 4,022,723 shares of the specialty retailer's stock worth $42,037,000 after purchasing an additional 214,108 shares during the last quarter. Victory Capital Management Inc. increased its position 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. Finally, Charles Schwab Investment Management Inc. increased its position 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.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Canaccord Genuity Group increased their target price on shares of Sally Beauty from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Wall Street Zen lowered shares of Sally Beauty from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $12.88.

Insider Activity at Sally Beauty

In related news, CEO Denise Paulonis acquired 4,500 shares of the business's stock in a transaction on Friday, August 8th. The shares were bought at an average price of $11.74 per share, with a total value of $52,830.00. Following the completion of the acquisition, the chief executive officer owned 366,865 shares in the company, valued at $4,306,995.10. This trade represents a 1.24% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Diana Sue Ferguson acquired 2,500 shares of the business's stock in a transaction on Thursday, August 7th. The shares were bought at an average cost of $12.02 per share, for a total transaction of $30,050.00. Following the acquisition, the director owned 7,912 shares of the company's stock, valued at $95,102.24. This represents a 46.19% increase in their position. The disclosure for this purchase can be found here. 1.56% of the stock is owned by company insiders.

Sally Beauty Stock Up 0.8%

Shares of NYSE SBH traded up $0.10 during midday trading on Friday, hitting $13.39. The company's stock had a trading volume of 2,071,563 shares, compared to its average volume of 1,926,097. The business's fifty day simple moving average is $10.06 and its two-hundred day simple moving average is $9.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.41 and a quick ratio of 0.49. Sally Beauty Holdings, Inc. has a 1 year low of $7.54 and a 1 year high of $14.79. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 7.20 and a beta of 1.30.

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, beating the consensus estimate of $0.42 by $0.09. Sally Beauty had a net margin of 5.26% and a return on equity of 28.11%. The business had revenue of $933.31 million during the quarter, compared to analyst estimates of $928.78 million. During the same quarter last year, the firm posted $0.45 earnings per share. The business's revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities analysts predict 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.