Caxton Associates LP Invests $384,000 in Sally Beauty Holdings, Inc. (SBH)

Caxton Associates LP acquired a new position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,600 shares of the specialty retailer’s stock, valued at approximately $384,000.

Other large investors also recently modified their holdings of the company. US Bancorp DE raised its holdings in shares of Sally Beauty by 227.6% during the second quarter. US Bancorp DE now owns 5,100 shares of the specialty retailer’s stock worth $103,000 after acquiring an additional 3,543 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Sally Beauty by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,427 shares of the specialty retailer’s stock valued at $110,000 after purchasing an additional 559 shares in the last quarter. Flinton Capital Management LLC grew its position in Sally Beauty by 86.8% in the second quarter. Flinton Capital Management LLC now owns 7,952 shares of the specialty retailer’s stock valued at $161,000 after purchasing an additional 3,696 shares in the last quarter. Invictus RG bought a new position in Sally Beauty in the third quarter valued at $202,000. Finally, M&T Bank Corp grew its position in Sally Beauty by 0.6% in the second quarter. M&T Bank Corp now owns 10,373 shares of the specialty retailer’s stock valued at $210,000 after purchasing an additional 65 shares in the last quarter.

In other news, Director Edward W. Rabin acquired 3,750 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was bought at an average price of $15.49 per share, with a total value of $58,087.50. Following the transaction, the director now directly owns 14,351 shares in the company, valued at approximately $222,296.99. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.

A number of research analysts recently weighed in on the stock. DA Davidson downgraded shares of Sally Beauty from a “buy” rating to a “neutral” rating and decreased their target price for the company from $21.00 to $16.00 in a research report on Sunday, November 26th. KeyCorp reaffirmed a “hold” rating on shares of Sally Beauty in a research report on Friday, November 24th. Zacks Investment Research downgraded shares of Sally Beauty from a “hold” rating to a “sell” rating in a research report on Saturday, November 18th. Bank of America decreased their target price on shares of Sally Beauty from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, November 16th. Finally, Morgan Stanley decreased their target price on shares of Sally Beauty from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Thursday, November 16th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $18.82.

Shares of Sally Beauty Holdings, Inc. (NYSE:SBH) traded down $0.11 on Friday, hitting $16.48. 1,695,800 shares of the stock were exchanged, compared to its average volume of 2,261,871. Sally Beauty Holdings, Inc. has a 52 week low of $14.05 and a 52 week high of $27.30. The company has a market cap of $2,130.74, a P/E ratio of 9.22, a PEG ratio of 1.54 and a beta of 0.66. The company has a current ratio of 2.04, a quick ratio of 0.42 and a debt-to-equity ratio of -4.87.

Sally Beauty (NYSE:SBH) last announced its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Sally Beauty had a net margin of 5.46% and a negative return on equity of 74.84%. The firm had revenue of $974.20 million during the quarter, compared to the consensus estimate of $989.96 million. During the same period last year, the business earned $0.41 EPS. The business’s revenue was down .2% on a year-over-year basis. analysts expect that Sally Beauty Holdings, Inc. will post 1.91 earnings per share for the current year.

Sally Beauty declared that its Board of Directors has approved a share repurchase plan on Thursday, August 31st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to buy up to 40.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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About Sally Beauty

Sally Beauty Holdings, Inc is an international specialty retailer and distributor of professional beauty supplies with operations primarily in North America, South America and Europe. The Company operates through two business segments: Sally Beauty Supply and Beauty Systems Group (BSG). Sally Beauty Supply is a domestic and international chain of cash and carry retail stores, which offers professional beauty supplies to both salon professionals and retail customers primarily in North America, Puerto Rico, and parts of Europe and South America.

Institutional Ownership by Quarter for Sally Beauty (NYSE:SBH)

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