ProShare Advisors LLC Reduces Stock Holdings in Sally Beauty Holdings, Inc. (NYSE:SBH)

ProShare Advisors LLC reduced its position in Sally Beauty Holdings, Inc. (NYSE:SBH) by 23.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,451 shares of the specialty retailer’s stock after selling 5,138 shares during the quarter. ProShare Advisors LLC’s holdings in Sally Beauty were worth $177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new stake in Sally Beauty in the 1st quarter worth about $64,000. Quest Partners LLC increased its stake in shares of Sally Beauty by 16,095.6% in the second quarter. Quest Partners LLC now owns 7,288 shares of the specialty retailer’s stock worth $78,000 after purchasing an additional 7,243 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Sally Beauty in the second quarter valued at approximately $117,000. Intech Investment Management LLC purchased a new stake in shares of Sally Beauty during the 2nd quarter valued at approximately $148,000. Finally, TD Asset Management Inc boosted its holdings in Sally Beauty by 16.4% in the 2nd quarter. TD Asset Management Inc now owns 17,000 shares of the specialty retailer’s stock worth $182,000 after buying an additional 2,400 shares during the period.

Sally Beauty Trading Up 4.9 %

Shares of SBH stock opened at $13.58 on Friday. Sally Beauty Holdings, Inc. has a 52-week low of $7.21 and a 52-week high of $13.94. The business’s fifty day moving average is $12.33 and its 200 day moving average is $11.53. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.40 and a current ratio of 2.12. The company has a market capitalization of $1.39 billion, a PE ratio of 9.24 and a beta of 1.53.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings data on Thursday, August 8th. The specialty retailer reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. The company had revenue of $942.30 million during the quarter, compared to analyst estimates of $931.77 million. Sally Beauty had a return on equity of 31.88% and a net margin of 3.99%. Sally Beauty’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 earnings per share. On average, equities research analysts anticipate that Sally Beauty Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on SBH. Piper Sandler lowered their target price on shares of Sally Beauty from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Finally, DA Davidson restated a “neutral” rating and issued a $12.00 target price on shares of Sally Beauty in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.00.

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.