XTX Topco Ltd Trims Position in Sally Beauty Holdings, Inc. (NYSE:SBH)

Key Points

• XTX Topco Ltd reduced its stake in Sally Beauty Holdings, Inc. by 37%, selling 38,832 shares and retaining 66,177 shares after the divestment.
• Hedge fund activity shows mixed strategies, with some firms like SG Americas Securities LLC purchasing new stakes while others such as Millennium Management LLC increased their holdings significantly, now owning over 1.1 million shares.
• Sally Beauty's recent earnings topped expectations, reporting $0.51 EPS against a consensus of $0.42, despite a 1% year-over-year revenue decline.

XTX Topco Ltd lessened its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 37.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,177 shares of the specialty retailer's stock after selling 38,832 shares during the quarter. XTX Topco Ltd owned approximately 0.06% of Sally Beauty worth $598,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SBH. Vanguard Group Inc. raised its stake in Sally Beauty by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 12,428,715 shares of the specialty retailer's stock worth $129,880,000 after acquiring an additional 279,222 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Sally Beauty by 12.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,049,732 shares of the specialty retailer's stock worth $42,316,000 after acquiring an additional 459,972 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its stake in Sally Beauty by 5.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 4,022,723 shares of the specialty retailer's stock worth $42,037,000 after acquiring an additional 214,108 shares during the last quarter. Victory Capital Management Inc. raised its stake in Sally Beauty by 9.3% in the 1st quarter. Victory Capital Management Inc. now owns 4,013,531 shares of the specialty retailer's stock worth $36,242,000 after acquiring an additional 342,225 shares during the last quarter. Finally, Lightrock Netherlands B.V. raised its stake 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 worth $13,380,000 after acquiring an additional 583,000 shares during the last quarter.

Sally Beauty Stock Down 0.6%

Shares of Sally Beauty stock traded down $0.07 during trading hours on Friday, reaching $11.67. 1,637,166 shares of the company were exchanged, compared to its average volume of 1,791,634. Sally Beauty Holdings, Inc. has a 1 year low of $7.54 and a 1 year high of $14.79. The stock's fifty day moving average is $9.65 and its 200 day moving average is $9.25. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.44 and a current ratio of 2.41. The firm has a market cap of $1.15 billion, a PE ratio of 6.27 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.09. The business had revenue of $933.31 million for 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 revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 earnings per share. As a group, equities research analysts forecast that Sally Beauty Holdings, Inc. will post 1.81 earnings per share for the current year.

Wall Street Analyst Weigh In

SBH has been the subject of a number of recent research reports. Wall Street Zen lowered Sally Beauty from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Canaccord Genuity Group lifted their price target on Sally Beauty from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday. 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $12.88.

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.