Magnetar Financial LLC Takes $617,000 Position in Sally Beauty Holdings, Inc. (SBH)
Magnetar Financial LLC bought a new position in Sally Beauty Holdings, Inc. (NYSE:SBH) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 31,503 shares of the specialty retailer’s stock, valued at approximately $617,000.
Several other institutional investors have also recently added to or reduced their stakes in SBH. US Bancorp DE lifted its holdings in Sally Beauty by 227.6% during the 2nd quarter. US Bancorp DE now owns 5,100 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 3,543 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sally Beauty by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,427 shares of the specialty retailer’s stock valued at $110,000 after buying an additional 559 shares in the last quarter. Flinton Capital Management LLC lifted its holdings in Sally Beauty by 86.8% during the 2nd quarter. Flinton Capital Management LLC now owns 7,952 shares of the specialty retailer’s stock valued at $161,000 after buying an additional 3,696 shares in the last quarter. Invictus RG bought a new stake in Sally Beauty during the 3rd quarter valued at about $202,000. Finally, M&T Bank Corp lifted its holdings in Sally Beauty by 0.6% during the 2nd quarter. M&T Bank Corp now owns 10,373 shares of the specialty retailer’s stock valued at $210,000 after buying an additional 65 shares in the last quarter.
Sally Beauty Holdings, Inc. (NYSE:SBH) traded down $0.36 during midday trading on Wednesday, reaching $16.37. 1,809,600 shares of the company’s stock were exchanged, compared to its average volume of 2,267,677. The company has a quick ratio of 0.42, a current ratio of 2.04 and a debt-to-equity ratio of -4.87. The stock has a market cap of $2,148.72, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 1.56 and a beta of 0.66. Sally Beauty Holdings, Inc. has a 1-year low of $14.05 and a 1-year high of $27.50.
Sally Beauty declared that its Board of Directors has initiated a share repurchase program on Thursday, August 31st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to reacquire up to 40.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Edward W. Rabin acquired 3,750 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were purchased at an average price of $15.49 per share, with a total value of $58,087.50. Following the transaction, the director now directly owns 14,351 shares in the company, valued at $222,296.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is owned by insiders.
A number of equities research analysts recently weighed in on the stock. Oppenheimer reiterated a “hold” rating on shares of Sally Beauty in a report on Wednesday, September 13th. Cowen reissued a “buy” rating and set a $24.00 target price on shares of Sally Beauty in a research report on Thursday, September 28th. DA Davidson reissued a “neutral” rating and set a $21.00 target price (down previously from $23.00) on shares of Sally Beauty in a research report on Friday, September 8th. KeyCorp reissued a “hold” rating on shares of Sally Beauty in a research report on Wednesday, September 6th. Finally, BidaskClub downgraded shares of Sally Beauty from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $18.82.
Sally Beauty Profile
Sally Beauty Holdings, Inc is an international specialty retailer and distributor of professional beauty supplies with operations primarily in North America, South America and Europe. The Company operates through two business segments: Sally Beauty Supply and Beauty Systems Group (BSG). Sally Beauty Supply is a domestic and international chain of cash and carry retail stores, which offers professional beauty supplies to both salon professionals and retail customers primarily in North America, Puerto Rico, and parts of Europe and South America.
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