Meritage Group Lp Lowers stake in Sally Beauty Holdings (SBH)

Sally Beauty Holdings (SBH) : Meritage Group Lp reduced its stake in Sally Beauty Holdings by 33.08% during the most recent quarter end. The investment management company now holds a total of 4,920,368 shares of Sally Beauty Holdings which is valued at $144.4 Million after selling 2,432,059 shares in Sally Beauty Holdings , the firm said in a disclosure report filed with the SEC on May 13, 2016.Sally Beauty Holdings makes up approximately 4.04% of Meritage Group Lp’s portfolio.

Other Hedge Funds, Including , Brown Brothers Harriman Co sold out all of its stake in SBH during the most recent quarter. The investment firm sold 261,299 shares of SBH which is valued $7.7 Million. Raymond James Associates added SBH to its portfolio by purchasing 7,572 company shares during the most recent quarter which is valued at $222,162.Swiss National Bank boosted its stake in SBH in the latest quarter, The investment management firm added 45,000 additional shares and now holds a total of 257,300 shares of Sally Beauty Holdings which is valued at $7.7 Million. Sally Beauty Holdings makes up approx 0.01% of Swiss National Bank’s portfolio.Ifp Advisors Inc reduced its stake in SBH by selling 17 shares or 3.27% in the most recent quarter. The Hedge Fund company now holds 503 shares of SBH which is valued at $15,140.

Sally Beauty Holdings opened for trading at $27.56 and hit $28.37 on the upside on Wednesday, eventually ending the session at $28.18, with a gain of 2.25% or 0.62 points. The heightened volatility saw the trading volume jump to 20,92,050 shares. Company has a market cap of $4,123 M.

On the company’s financial health, Sally Beauty Holdings reported $0.41 EPS for the quarter, based on the information available during the earnings call on May 5, 2016. Analyst had a consensus estimate of $0.41. The company had revenue of $980.06 million for the quarter, compared to analysts expectations of $963.28 million. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Sally Beauty Holdings. Sally Beauty Holdings was Initiated by BB&T Capital Mkts to “Hold” on Apr 20, 2016. Sally Beauty Holdings was Downgraded by Piper Jaffray to ” Neutral” on Mar 10, 2016.

Sally Beauty Holdings Inc. (Sally Beauty) is a retailer and distributor of beauty supplies. The Company operates in North America South America and Europe. Sally Beauty operates through two business segments namely Sally Beauty Supply and Beauty Systems Group (BSG). Sally Beauty provides its customers with a variety of third-party branded beauty supplies including hair color products hair care products styling appliances brushes nail care products ethnic products and beauty items. Sally Beauty Supply is an open-line distributor of professional beauty supplies in the United States. Sally beauty supply products are sold in shopping centers grocery stores mass merchants and home centers. BSG is a full-service distributor of beauty supplies in North America. BSG and Armstrong McCall stores provide beauty product SKUs that include hair color hair care skin and nail care beauty sundries and electrical appliances. BSG stores are located in secondary strip shopping centers.

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