Putnam Investments LLC Cuts Stock Holdings in Sally Beauty Holdings, Inc. (NYSE:SBH)

Putnam Investments LLC decreased its position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH – Get Rating) by 1.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 123,947 shares of the specialty retailer’s stock after selling 2,255 shares during the period. Putnam Investments LLC’s holdings in Sally Beauty were worth $1,561,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Sally Beauty by 143.5% during the third quarter. Royal Bank of Canada now owns 2,187 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 1,289 shares during the last quarter. Captrust Financial Advisors lifted its position in Sally Beauty by 34.2% during the first quarter. Captrust Financial Advisors now owns 5,036 shares of the specialty retailer’s stock valued at $79,000 after purchasing an additional 1,282 shares during the period. UBS Group AG lifted its position in Sally Beauty by 69.7% during the third quarter. UBS Group AG now owns 6,761 shares of the specialty retailer’s stock valued at $85,000 after purchasing an additional 2,777 shares during the period. Walleye Capital LLC bought a new position in Sally Beauty during the second quarter valued at approximately $121,000. Finally, Schechter Investment Advisors LLC bought a new position in Sally Beauty during the third quarter valued at approximately $133,000.

Analyst Ratings Changes

A number of research analysts recently weighed in on SBH shares. DA Davidson increased their price objective on shares of Sally Beauty from $11.50 to $17.00 and gave the company a “neutral” rating in a research report on Monday, February 6th. Piper Sandler started coverage on shares of Sally Beauty in a research report on Thursday, December 15th. They set an “overweight” rating and a $15.00 price objective on the stock. Cowen increased their price objective on shares of Sally Beauty from $14.00 to $19.00 and gave the company a “market perform” rating in a research report on Thursday, February 16th. StockNews.com downgraded shares of Sally Beauty from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th. Finally, Morgan Stanley increased their price target on shares of Sally Beauty from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Friday, February 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $16.00.

Insider Activity

In other news, insider Mark Gregory Spinks sold 35,456 shares of the firm’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $17.18, for a total transaction of $609,134.08. Following the sale, the insider now directly owns 38,313 shares in the company, valued at approximately $658,217.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.97% of the company’s stock.

Sally Beauty Stock Down 4.6 %

SBH opened at $14.67 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 0.34 and a debt-to-equity ratio of 2.90. Sally Beauty Holdings, Inc. has a 1-year low of $10.95 and a 1-year high of $18.42. The company has a market capitalization of $1.57 billion, a PE ratio of 9.72 and a beta of 1.30. The firm’s 50 day simple moving average is $15.65 and its two-hundred day simple moving average is $13.81.

Sally Beauty (NYSE:SBH – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The specialty retailer reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. The firm had revenue of $957.06 million for the quarter, compared to the consensus estimate of $921.74 million. Sally Beauty had a net margin of 4.35% and a return on equity of 72.24%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. As a group, equities analysts forecast that Sally Beauty Holdings, Inc. will post 1.88 EPS for the current year.

About Sally Beauty

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Sally Beauty Holdings, Inc is an international retailer and distributor of professional beauty supplies. It operates through the Sally Beauty Supply (SBS) and Beauty Systems Group (BSG) segments. The SBS segment offers domestic and international chain of retail stores and a consumer-facing e-commerce website that offers professional beauty supplies to both salon professionals and retail customers primarily in North America, Puerto Rico, and parts of Europe and South America.