Sally Beauty Holdings, Inc. (NYSE:SBH) Shares Bought by Wolverine Asset Management LLC

Key Points

• Wolverine Asset Management LLC increased its stake in Sally Beauty Holdings by 30.7%, acquiring an additional 30,923 shares to own a total of 131,490 shares valued at approximately $1.19 million.
• Research analysts have mixed ratings on Sally Beauty, with one sell rating, three hold ratings, and two buy ratings, with an average price target of $12.88.
• Sally Beauty reported earnings of $0.51 EPS for the last quarter, exceeding estimates, despite a 1.0% year-over-year revenue decline.

Wolverine Asset Management LLC boosted its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 30.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 131,490 shares of the specialty retailer's stock after buying an additional 30,923 shares during the quarter. Wolverine Asset Management LLC owned 0.13% of Sally Beauty worth $1,187,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Golden State Wealth Management LLC boosted its position in shares of Sally Beauty by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 3,470 shares of the specialty retailer's stock valued at $31,000 after acquiring an additional 1,735 shares during the last quarter. Federated Hermes Inc. raised its holdings 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 during the period. Parallel Advisors LLC raised its holdings 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 during the period. GAMMA Investing LLC raised its holdings 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 during the period. Finally, CWM LLC raised its holdings in Sally Beauty by 123.7% in the 1st 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.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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

Sally Beauty Price Performance

Sally Beauty stock traded down $0.31 during midday trading on Thursday, reaching $13.25. The company's stock had a trading volume of 1,007,910 shares, compared to its average volume of 2,118,645. Sally Beauty Holdings, Inc. has a fifty-two week low of $7.54 and a fifty-two week high of $14.79. The firm has a market capitalization of $1.31 billion, a PE ratio of 7.11 and a beta of 1.30. The stock's 50 day simple moving average is $9.87 and its 200 day simple moving average is $9.28. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.49 and a current ratio of 2.41.

Sally Beauty (NYSE:SBH - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The specialty retailer reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.09. Sally Beauty had a return on equity of 28.11% and a net margin of 5.26%. The business had revenue of $933.31 million during the quarter, compared to analysts' expectations of $928.78 million. During the same quarter last year, the business posted $0.45 earnings per share. The business's revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities research analysts forecast that Sally Beauty Holdings, Inc. will post 1.81 earnings per share 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.