Magnetar Financial LLC Takes Position in Sally Beauty Holdings, Inc. (NYSE:SBH)

Magnetar Financial LLC purchased a new stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 24,281 shares of the specialty retailer’s stock, valued at approximately $254,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its position in Sally Beauty by 269.8% during the fourth quarter. Teacher Retirement System of Texas now owns 732,845 shares of the specialty retailer’s stock valued at $7,658,000 after purchasing an additional 534,651 shares during the period. Counterpoint Mutual Funds LLC bought a new position in Sally Beauty during the fourth quarter valued at approximately $289,000. Corient Private Wealth LLC lifted its position in Sally Beauty by 5.9% during the fourth quarter. Corient Private Wealth LLC now owns 19,181 shares of the specialty retailer’s stock valued at $200,000 after purchasing an additional 1,069 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Sally Beauty during the fourth quarter valued at approximately $731,000. Finally, AlphaQuest LLC lifted its position in Sally Beauty by 22,060.0% during the fourth quarter. AlphaQuest LLC now owns 24,376 shares of the specialty retailer’s stock valued at $255,000 after purchasing an additional 24,266 shares during the period.

Sally Beauty Stock Up 1.2 %

SBH opened at $8.61 on Monday. The firm’s 50 day simple moving average is $9.86 and its two-hundred day simple moving average is $11.66. The company has a current ratio of 2.27, a quick ratio of 0.44 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $877.42 million, a PE ratio of 5.15 and a beta of 1.54. Sally Beauty Holdings, Inc. has a 1-year low of $8.25 and a 1-year high of $14.79.

Sally Beauty (NYSE:SBH) last announced its quarterly earnings data on Thursday, February 13th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $937.90 million during the quarter, compared to analysts’ expectations of $941.44 million. Sally Beauty had a net margin of 4.73% and a return on equity of 30.35%. As a group, equities analysts forecast that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SBH shares. DA Davidson lowered their price objective on shares of Sally Beauty from $13.00 to $10.50 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Sally Beauty from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group started coverage on shares of Sally Beauty in a research report on Thursday, January 16th. They issued a “buy” rating and a $14.00 price target on the stock. Morgan Stanley decreased their price target on shares of Sally Beauty from $12.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. Finally, TD Cowen upgraded shares of Sally Beauty from a “hold” rating to a “buy” rating and increased their price target for the stock from $14.00 to $16.00 in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.70.

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.