Wolverine Asset Management LLC Buys 30,923 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

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 grew its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 30.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,490 shares of the specialty retailer's stock after acquiring 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 quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SBH. Millennium Management LLC lifted its holdings in shares of Sally Beauty by 1,177.7% in the 4th quarter. Millennium Management LLC now owns 1,136,121 shares of the specialty retailer's stock worth $11,872,000 after purchasing an additional 1,047,199 shares in the last quarter. CenterBook Partners LP raised its position in Sally Beauty by 359.3% in the 1st quarter. CenterBook Partners LP now owns 961,230 shares of the specialty retailer's stock valued at $8,680,000 after buying an additional 751,943 shares during the last quarter. Invesco Ltd. raised its position in Sally Beauty by 102.1% in the 4th quarter. Invesco Ltd. now owns 1,418,465 shares of the specialty retailer's stock valued at $14,823,000 after buying an additional 716,613 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Sally Beauty in the 4th quarter valued at $6,746,000. Finally, Lightrock Netherlands B.V. raised its position in Sally Beauty by 65.0% in the 1st quarter. Lightrock Netherlands B.V. now owns 1,479,307 shares of the specialty retailer's stock valued at $13,380,000 after buying an additional 583,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group raised their target price on 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 lowered Sally Beauty from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Sally Beauty currently has an average rating of "Hold" and a consensus price target of $12.88.

Sally Beauty Price Performance

SBH stock traded up $0.73 during mid-day trading on Tuesday, reaching $12.58. 2,422,590 shares of the company traded hands, compared to its average volume of 1,850,123. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.41 and a quick ratio of 0.49. The company has a market capitalization of $1.24 billion, a P/E ratio of 6.76 and a beta of 1.30. Sally Beauty Holdings, Inc. has a 52-week low of $7.54 and a 52-week high of $14.79. The company has a fifty day moving average price of $9.78 and a 200-day moving average price of $9.25.

Sally Beauty (NYSE:SBH - Get Free Report) last posted its 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. The business had revenue of $933.31 million during the quarter, compared to analyst estimates of $928.78 million. Sally Beauty had a return on equity of 28.11% and a net margin of 5.26%. The company's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. As a group, analysts anticipate that Sally Beauty Holdings, Inc. will post 1.81 earnings per share for the current year.

Insider Transactions at Sally Beauty

In other Sally Beauty news, 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, for a total transaction of $30,050.00. Following the transaction, the director owned 7,912 shares in the company, valued at $95,102.24. The trade was a 46.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Denise Paulonis purchased 4,500 shares of the company's stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $11.74 per share, with a total value of $52,830.00. Following the transaction, the chief executive officer owned 366,865 shares in the company, valued at approximately $4,306,995.10. The trade was a 1.24% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.56% of the company's stock.

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.