Maryland State Retirement & Pension System Lowers Holdings in Sally Beauty Holdings, Inc. $SBH

Maryland State Retirement & Pension System trimmed its holdings in Sally Beauty Holdings, Inc. (NYSE:SBH) by 14.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 29,644 shares of the specialty retailer’s stock after selling 5,018 shares during the period. Maryland State Retirement & Pension System’s holdings in Sally Beauty were worth $268,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its position in shares of Sally Beauty by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 3,470 shares of the specialty retailer’s stock worth $31,000 after buying an additional 1,735 shares during the period. Parallel Advisors LLC boosted its position in shares of Sally Beauty by 536.4% during the first quarter. Parallel Advisors LLC now owns 3,920 shares of the specialty retailer’s stock worth $35,000 after buying an additional 3,304 shares during the period. GAMMA Investing LLC boosted its position in shares of Sally Beauty by 820.3% during the first quarter. GAMMA Investing LLC now owns 4,712 shares of the specialty retailer’s stock worth $43,000 after buying an additional 4,200 shares during the period. CWM LLC boosted its position in shares of Sally Beauty by 123.7% during the first quarter. CWM LLC now owns 8,949 shares of the specialty retailer’s stock worth $81,000 after buying an additional 4,948 shares during the period. Finally, Quarry LP boosted its position in shares of Sally Beauty by 302.2% during the fourth quarter. Quarry LP now owns 11,986 shares of the specialty retailer’s stock worth $125,000 after buying an additional 9,006 shares during the period.

Insider Activity at Sally Beauty

In other news, Director Diana Sue Ferguson purchased 2,500 shares of the stock in a transaction on Thursday, August 7th. The stock was bought at an average price of $12.02 per share, for a total transaction of $30,050.00. Following the acquisition, the director directly owned 7,912 shares of the company’s stock, valued at approximately $95,102.24. The trade was a 46.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Denise Paulonis purchased 4,500 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $11.74 per share, with a total value of $52,830.00. Following the acquisition, the chief executive officer directly owned 366,865 shares in the company, valued at $4,306,995.10. This represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.56% of the company’s stock.

Sally Beauty Stock Down 0.5%

Shares of NYSE SBH opened at $13.32 on Tuesday. The stock has a market cap of $1.32 billion, a P/E ratio of 7.16 and a beta of 1.30. The company has a current ratio of 2.41, a quick ratio of 0.49 and a debt-to-equity ratio of 1.16. Sally Beauty Holdings, Inc. has a 12-month low of $7.54 and a 12-month high of $14.79. The business’s fifty day simple moving average is $10.15 and its 200-day simple moving average is $9.30.

Sally Beauty (NYSE:SBH) last announced its quarterly earnings data on Tuesday, August 5th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.09. The business had revenue of $933.31 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $0.45 earnings per share. As a group, equities analysts predict that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SBH shares. Wall Street Zen lowered Sally Beauty from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Canaccord Genuity Group raised their price target on Sally Beauty from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.