Jupiter Asset Management Ltd. Sells 2,054,615 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

Jupiter Asset Management Ltd. reduced its position in Sally Beauty Holdings, Inc. (NYSE:SBH) by 46.8% in the first quarter, Holdings Channel.com reports. The firm owned 2,333,532 shares of the specialty retailer’s stock after selling 2,054,615 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Sally Beauty were worth $28,982,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. CWM LLC boosted its position in Sally Beauty by 107.9% during the fourth quarter. CWM LLC now owns 2,700 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 1,401 shares during the period. Quadrant Capital Group LLC boosted its holdings in Sally Beauty by 168.6% during the 4th quarter. Quadrant Capital Group LLC now owns 4,507 shares of the specialty retailer’s stock valued at $60,000 after acquiring an additional 2,829 shares during the period. SG Americas Securities LLC purchased a new stake in Sally Beauty during the 4th quarter valued at about $136,000. Raymond James Trust N.A. bought a new position in Sally Beauty during the 4th quarter worth approximately $143,000. Finally, Ballentine Partners LLC increased its stake in Sally Beauty by 9.8% in the 4th quarter. Ballentine Partners LLC now owns 11,716 shares of the specialty retailer’s stock worth $156,000 after purchasing an additional 1,043 shares during the period.

Sally Beauty Trading Down 2.5 %

SBH traded down $0.29 during midday trading on Friday, reaching $11.20. 983,100 shares of the company’s stock traded hands, compared to its average volume of 1,466,447. Sally Beauty Holdings, Inc. has a 52 week low of $7.21 and a 52 week high of $13.91. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.99 and a quick ratio of 0.37. The firm has a fifty day moving average of $11.06 and a two-hundred day moving average of $11.66. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 7.62 and a beta of 1.54.

Sally Beauty (NYSE:SBH) last announced its earnings results on Thursday, May 9th. The specialty retailer reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). The business had revenue of $908.36 million for the quarter, compared to the consensus estimate of $910.72 million. Sally Beauty had a net margin of 4.36% and a return on equity of 34.23%. Sally Beauty’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. On average, equities analysts anticipate that Sally Beauty Holdings, Inc. will post 1.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SBH. Piper Sandler dropped their price objective on Sally Beauty from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. TD Cowen dropped their price target on shares of Sally Beauty from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.25.

Sally Beauty 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.