Arrowpoint Asset Management LLC Has Upped Sally Beauty Hldgs INC (SBH) Stake

July 18, 2017 - By Vivian Currie

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 6.13M shares of the consumer services company at the end of 2016Q4, valued at $161.97 million, up from 4.36 million 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 $2.74 billion 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 Trimble Inc (NASDAQ:TRMB) by 187,403 shares to 2.53M shares, valued at $76.14 million in 2016Q4, according to the filing. It also reduced its holding in Msc Indl Direct Inc (NYSE:MSM) by 156,205 shares in the quarter, leaving it with 591,125 shares, and cut its stake in Freds Inc (NASDAQ:FRED).

More important recent Sally Beauty Holdings, Inc. (NYSE:SBH) news were published by: which released: “Sally Beauty Holdings’ (SBH) CEO Chris Brickman on Q2 2017 Results – Earnings …” on May 08, 2017, also published article titled: “Sally Beauty: Waiting For The Stock To Stop Falling”, published: “Sally Beauty Holdings Inc (SBH) President & CEO Christian A. Brickman Bought …” on May 24, 2017. More interesting news about Sally Beauty Holdings, Inc. (NYSE:SBH) was released by: and their article: “Sally Beauty At $20: Like GNC At $40?” with publication date: May 11, 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 maintained by Oppenheimer with “Hold” on Tuesday, June 20. The stock has “Neutral” rating by Piper Jaffray on Thursday, March 10. The firm has “Hold” rating by BB&T Capital given on Wednesday, April 20. On Tuesday, June 6 the stock rating was maintained by Oppenheimer with “Hold”. Goldman Sachs upgraded Sally Beauty Holdings, Inc. (NYSE:SBH) on Wednesday, November 18 to “Buy” rating. The stock of Sally Beauty Holdings, Inc. (NYSE:SBH) has “Equal-Weight” rating given on Monday, March 14 by Morgan Stanley. The stock has “Perform” rating by Oppenheimer on Tuesday, November 10. The firm has “Sector Weight” rating by KeyBanc Capital Markets given on Monday, April 24. The rating was upgraded by Johnson Rice on Monday, August 10 to “Hold”. The firm earned “Underperform” rating on Thursday, October 22 by Wells Fargo.

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