AlphaCrest Capital Management LLC Acquires 23,359 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

Posted by Defense World Staff on Mar 9th, 2023

AlphaCrest Capital Management LLC raised its holdings in Sally Beauty Holdings, Inc. (NYSE:SBH – Get Rating) by 89.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,374 shares of the specialty retailer’s stock after acquiring an additional 23,359 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Sally Beauty were worth $622,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of Sally Beauty by 8.7% during the first quarter. JPMorgan Chase & Co. now owns 157,951 shares of the specialty retailer’s stock worth $2,469,000 after purchasing an additional 12,647 shares in the last quarter. Citigroup Inc. boosted its position in shares of Sally Beauty by 1.6% during the first quarter. Citigroup Inc. now owns 106,919 shares of the specialty retailer’s stock worth $1,672,000 after purchasing an additional 1,674 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Sally Beauty by 56.0% during the first quarter. MetLife Investment Management LLC now owns 60,680 shares of the specialty retailer’s stock worth $948,000 after purchasing an additional 21,780 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Sally Beauty by 3.1% during the first quarter. Rhumbline Advisers now owns 282,423 shares of the specialty retailer’s stock worth $4,414,000 after purchasing an additional 8,600 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Sally Beauty by 11.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 94,896 shares of the specialty retailer’s stock worth $1,483,000 after purchasing an additional 9,465 shares in the last quarter.

Insider Buying and Selling at Sally Beauty

In other Sally Beauty news, insider Mark Gregory Spinks sold 35,456 shares of Sally Beauty stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $17.18, for a total value of $609,134.08. Following the sale, the insider now directly owns 38,313 shares in the company, valued at approximately $658,217.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Sally Beauty from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Friday, February 3rd. Piper Sandler started coverage on shares of Sally Beauty in a report on Thursday, December 15th. They set an “overweight” rating and a $15.00 price objective on the stock. DA Davidson raised their price objective on shares of Sally Beauty from $11.50 to $17.00 and gave the stock a “neutral” rating in a report on Monday, February 6th. StockNews.com lowered shares of Sally Beauty from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th. Finally, Cowen raised their price objective on shares of Sally Beauty from $14.00 to $19.00 and gave the stock a “market perform” rating in a report on Thursday, February 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Sally Beauty Stock Down 0.3 %

Shares of SBH stock opened at $15.85 on Thursday. The company has a current ratio of 1.80, a quick ratio of 0.34 and a debt-to-equity ratio of 2.90. Sally Beauty Holdings, Inc. has a 1 year low of $10.95 and a 1 year high of $18.42. The firm’s fifty day moving average price is $15.54 and its two-hundred day moving average price is $13.81. The firm has a market capitalization of $1.70 billion, a P/E ratio of 10.50 and a beta of 1.30.

Sally Beauty (NYSE:SBH – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The specialty retailer reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Sally Beauty had a net margin of 4.35% and a return on equity of 72.24%. The firm had revenue of $957.06 million for the quarter, compared to analyst estimates of $921.74 million. During the same period in the previous year, the business earned $0.63 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. On average, equities analysts predict that Sally Beauty Holdings, Inc. will post 1.88 EPS for the current fiscal year.

About Sally Beauty

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Sally Beauty Holdings, Inc is an international retailer and distributor of professional beauty supplies. It operates through the Sally Beauty Supply (SBS) and Beauty Systems Group (BSG) segments. The SBS segment offers domestic and international chain of retail stores and a consumer-facing e-commerce website that offers professional beauty supplies to both salon professionals and retail customers primarily in North America, Puerto Rico, and parts of Europe and South America.