Sally Beauty Holdings Inc. (SBH) Sees Significant Increase in Short Interest
Sally Beauty Holdings Inc. (NYSE:SBH) saw a large increase in short interest in September. As of September 30th, there was short interest totalling 13,373,904 shares, an increase of 59.5% from the September 15th total of 8,383,372 shares. Based on an average daily trading volume, of 5,258,691 shares, the days-to-cover ratio is currently 2.5 days. Currently, 9.2% of the shares of the stock are sold short.
In other news, insider Mark Gregory Spinks sold 6,492 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $26.37, for a total value of $171,194.04. Following the completion of the transaction, the insider now owns 7,530 shares in the company, valued at approximately $198,566.10. The sale was disclosed in a filing with the SEC, which is available at this link. 1.18% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Sally Beauty Holdings during the first quarter valued at $358,000. BlackRock Inc. boosted its stake in Sally Beauty Holdings by 209.8% in the first quarter. BlackRock Inc. now owns 18,674 shares of the company’s stock valued at $604,000 after buying an additional 12,647 shares during the period. BlackRock Group LTD boosted its stake in Sally Beauty Holdings by 17.8% in the first quarter. BlackRock Group LTD now owns 125,235 shares of the company’s stock valued at $4,057,000 after buying an additional 18,933 shares during the period. JPMorgan Chase & Co. boosted its stake in Sally Beauty Holdings by 120,381.9% in the first quarter. JPMorgan Chase & Co. now owns 1,596,385 shares of the company’s stock valued at $51,690,000 after buying an additional 1,595,060 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new stake in Sally Beauty Holdings during the first quarter valued at $726,000.
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Sally Beauty Holdings (NYSE:SBH) opened at 26.00 on Monday. Sally Beauty Holdings has a 52-week low of $21.94 and a 52-week high of $32.93. The firm’s 50-day moving average is $26.69 and its 200-day moving average is $28.80. The firm has a market capitalization of $3.79 billion, a P/E ratio of 17.34 and a beta of 0.81.
Sally Beauty Holdings (NYSE:SBH) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.47 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. The company had revenue of $998 million for the quarter, compared to analysts’ expectations of $1,000 million. Sally Beauty Holdings had a negative return on equity of 81.78% and a net margin of 5.75%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share. On average, equities analysts expect that Sally Beauty Holdings will post $1.71 earnings per share for the current year.
Several research firms have recently weighed in on SBH. Zacks Investment Research lowered shares of Sally Beauty Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. KeyCorp reaffirmed a “buy” rating on shares of Sally Beauty Holdings in a report on Monday, June 20th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Sally Beauty Holdings in a report on Wednesday, June 22nd. Cowen and Company set a $29.00 target price on shares of Sally Beauty Holdings and gave the stock a “buy” rating in a report on Thursday, September 29th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $30.00 target price on shares of Sally Beauty Holdings in a report on Sunday, August 14th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Sally Beauty Holdings has a consensus rating of “Hold” and an average target price of $31.38.
About Sally Beauty Holdings
Sally Beauty Holdings, Inc (Sally Beauty) is a retailer and distributor of beauty supplies. The Company operates in North America, South America and Europe. Sally Beauty operates through two business segments namely Sally Beauty Supply and Beauty Systems Group (BSG). Sally Beauty provides its customers with a variety of third-party branded beauty supplies, including hair color products, hair care products, styling appliances, brushes, nail care products, ethnic products and beauty items.
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