Readystate Asset Management LP Makes New Investment in Sally Beauty Holdings, Inc. (NYSE:SBH)

Readystate Asset Management LP bought a new stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 185,645 shares of the specialty retailer's stock, valued at approximately $1,676,000. Readystate Asset Management LP owned approximately 0.18% of Sally Beauty at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SBH. Golden State Wealth Management LLC increased its position in Sally Beauty by 100.0% in the 1st 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 in the last quarter. Parallel Advisors LLC increased its position in Sally Beauty by 536.4% in the 1st 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 in the last quarter. Federated Hermes Inc. increased its position in Sally Beauty by 119.1% in the 4th quarter. Federated Hermes Inc. now owns 3,702 shares of the specialty retailer's stock valued at $39,000 after buying an additional 2,012 shares in the last quarter. GAMMA Investing LLC increased its position in Sally Beauty by 820.3% in the 1st 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 in the last quarter. Finally, CWM LLC raised its holdings in Sally Beauty by 123.7% during the first quarter. CWM LLC now owns 8,949 shares of the specialty retailer's stock worth $81,000 after buying an additional 4,948 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Sally Beauty from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $12.63.

Sally Beauty Stock Up 2.1%

NYSE SBH traded up $0.21 during trading hours on Friday, hitting $10.34. The company's stock had a trading volume of 1,555,184 shares, compared to its average volume of 1,649,089. Sally Beauty Holdings, Inc. has a 52 week low of $7.54 and a 52 week high of $14.79. The company has a market capitalization of $1.04 billion, a PE ratio of 5.81 and a beta of 1.26. The company has a current ratio of 2.32, a quick ratio of 0.44 and a debt-to-equity ratio of 1.29. The company's 50-day simple moving average is $9.28 and its two-hundred day simple moving average is $9.27.

Sally Beauty (NYSE:SBH - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The specialty retailer reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. Sally Beauty had a net margin of 5.03% and a return on equity of 29.48%. The business had revenue of $883.15 million for the quarter, compared to analysts' expectations of $901.00 million. During the same quarter last year, the firm earned $0.35 EPS. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. Research analysts anticipate that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current fiscal year.

About Sally Beauty

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.