Sally Beauty Hldgs INC (SBH) Shareholder Arrowpoint Asset Management LLC Increased Holding by $46.13 Million as Market Valuation Declined

July 18, 2017 - By Maria Brooks

Arrowpoint Asset Management Llc increased its stake in Sally Beauty Hldgs Inc (SBH) by 40.73% based on its latest 2016Q4 regulatory filing with the SEC. Arrowpoint Asset Management Llc bought 1.77M shares as the company’s stock declined 19.54% while stock markets rallied. The institutional investor held 6.13 million shares of the consumer services company at the end of 2016Q4, valued at $161.97M, up from 4.36M at the end of the previous reported quarter. Arrowpoint Asset Management Llc who had been investing in Sally Beauty Hldgs Inc for a number of months, seems to be bullish on the $2.74B market cap company. The stock increased 0.87% or $0.17 on July 17, reaching $19.77. About shares traded. Sally Beauty Holdings, Inc. (NYSE:SBH) has declined 34.87% since July 18, 2016 and is downtrending. It has underperformed by 51.57% the S&P500.

Arrowpoint Asset Management Llc, which manages about $5.56 billion and $6.33 billion US Long portfolio, decreased its stake in Microsoft Corp (NASDAQ:MSFT) by 69,523 shares to 439,560 shares, valued at $27.31 million in 2016Q4, according to the filing. It also reduced its holding in Saia Inc (NASDAQ:SAIA) by 217,411 shares in the quarter, leaving it with 687,664 shares, and cut its stake in Trimble Inc (NASDAQ:TRMB).

More important recent Sally Beauty Holdings, Inc. (NYSE:SBH) news were published by: Seekingalpha.com which released: “Sally Beauty Holdings’ (SBH) CEO Chris Brickman on Q2 2017 Results – Earnings …” on May 08, 2017, also Nasdaq.com published article titled: “Sally Beauty Holdings Inc (SBH) President & CEO Christian A. Brickman Bought …”, Seekingalpha.com published: “Sally Beauty At $20: Like GNC At $40?” on May 11, 2017. More interesting news about Sally Beauty Holdings, Inc. (NYSE:SBH) was released by: Seekingalpha.com and their article: “Sally Beauty: Waiting For The Stock To Stop Falling” with publication date: April 07, 2017.

Sally Beauty Holdings, Inc. (NYSE:SBH) Ratings Coverage

Among 15 analysts covering Sally Beauty Holdings (NYSE:SBH), 1 have Buy rating, 0 Sell and 14 Hold. Therefore 7% are positive. Sally Beauty Holdings has $35 highest and $18 lowest target. $29.15’s average target is 47.45% above currents $19.77 stock price. Sally Beauty Holdings had 30 analyst reports since August 5, 2015 according to SRatingsIntel. The rating was downgraded by Wells Fargo to “Underperform” on Thursday, October 22. The stock has “Neutral” rating by Piper Jaffray on Thursday, March 10. The stock has “Hold” rating by Johnson Rice on Monday, August 10. B. Riley & Co downgraded Sally Beauty Holdings, Inc. (NYSE:SBH) rating on Friday, August 7. B. Riley & Co has “Neutral” rating and $30 target. KeyBanc Capital Markets upgraded the shares of SBH in report on Tuesday, December 15 to “Overweight” rating. The stock of Sally Beauty Holdings, Inc. (NYSE:SBH) has “Hold” rating given on Wednesday, April 20 by BB&T Capital. B. Riley & Co maintained Sally Beauty Holdings, Inc. (NYSE:SBH) rating on Monday, February 6. B. Riley & Co has “Neutral” rating and $26 target. Morgan Stanley maintained Sally Beauty Holdings, Inc. (NYSE:SBH) on Monday, March 14 with “Equal-Weight” rating. The firm has “Buy” rating given on Wednesday, November 18 by Goldman Sachs. The firm earned “Perform” rating on Thursday, February 2 by Oppenheimer.

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