Millennium Management LLC Has $9.10 Million Holdings in Sally Beauty Holdings, Inc. (NYSE:SBH)

Millennium Management LLC increased its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 945.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 847,956 shares of the specialty retailer’s stock after purchasing an additional 766,815 shares during the quarter. Millennium Management LLC owned approximately 0.83% of Sally Beauty worth $9,099,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale acquired a new stake in shares of Sally Beauty in the first quarter valued at about $64,000. Quest Partners LLC increased its position in shares of Sally Beauty by 16,095.6% during the 2nd 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 during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Sally Beauty during the 2nd quarter worth approximately $117,000. Evergreen Capital Management LLC boosted its holdings in shares of Sally Beauty by 19.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 13,070 shares of the specialty retailer’s stock valued at $140,000 after buying an additional 2,169 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Sally Beauty in the second quarter valued at $148,000.

Sally Beauty Stock Down 1.4 %

Sally Beauty stock opened at $13.05 on Wednesday. The company’s 50-day moving average price is $12.41 and its two-hundred day moving average price is $11.54. The company has a quick ratio of 0.40, a current ratio of 2.12 and a debt-to-equity ratio of 1.69. The stock has a market cap of $1.35 billion, a P/E ratio of 8.88 and a beta of 1.53. Sally Beauty Holdings, Inc. has a twelve month low of $7.21 and a twelve month high of $13.94.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings results on Thursday, August 8th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The business had revenue of $942.30 million during the quarter, compared to analysts’ expectations of $931.77 million. Sally Beauty had a return on equity of 31.88% and a net margin of 3.99%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 earnings per share. As a group, analysts expect that Sally Beauty Holdings, Inc. will post 1.66 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on SBH shares. Piper Sandler cut their price target on shares of Sally Beauty from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. DA Davidson reissued a “neutral” rating and set a $12.00 price target on shares of Sally Beauty in a research report on Tuesday, August 13th. Finally, StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.