Institutional Move From SEC: Arrowpoint Asset Management LLC Stake in Sally Beauty Hldgs INC (SBH) Boosted by $19.20 Million as Stock Value Declined

Institutional Move From SEC: Arrowpoint Asset Management LLC Stake in Sally Beauty Hldgs INC (SBH) Boosted by $19.20 Million as Stock Value Declined

Arrowpoint Asset Management Llc increased its stake in Sally Beauty Hldgs Inc (SBH) by 21.41% based on its latest 2016Q3 regulatory filing with the SEC. Arrowpoint Asset Management Llc bought 768,181 shares as the company’s stock declined 12.41% while stock markets rallied. The institutional investor held 4.36M shares of the consumer services company at the end of 2016Q3, valued at $111.87M, up from 3.59M 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 $3.71 billion market cap company. The stock is down 2.51% or $0.66 hitting $25.61, despite the positive news. About 620,499 shares traded hands. Sally Beauty Holdings, Inc. (NYSE:SBH) has declined 13.98% since June 7, 2016 and is downtrending. It has underperformed by 21.40% the S&P500.

Arrowpoint Asset Management Llc, which manages about $5.56 billion and $5.50B US Long portfolio, decreased its stake in Quidel Corp (NASDAQ:QDEL) by 194,095 shares to 1.09M shares, valued at $24.15 million in 2016Q3, according to the filing. It also reduced its holding in Select Comfort Corp (NASDAQ:SCSS) by 175,000 shares in the quarter, leaving it with 270,878 shares, and cut its stake in Kennametal Inc (NYSE:KMT).

Arrowpoint Asset Management Llc is a Colorado-based institutional investor with more than $5.56 billion AUM in March, 2014. Taken from Arrowpoint Asset Management latest Adv, the fund reported to have 33 full and part-time employees. Among which 18 performing investment advisory and research functions. The institutional investor had between 26-100 clients.

More notable recent Sally Beauty Holdings, Inc. (NYSE:SBH) news were published by: Fool.com which released: “Why Sally Beauty Holdings, Inc. Tumbled Today” on November 15, 2016, also Fool.com with their article: “Why Sally Beauty Holdings, Inc. Stock Fell Today” published on August 04, 2016, Nasdaq.com published: “Earnings Reaction History: Sally Beauty Holdings Inc., 25.0% Follow-Through …” on November 15, 2016. More interesting news about Sally Beauty Holdings, Inc. (NYSE:SBH) were released by: Investorplace.com and their article: “Why Sally Beauty Holdings, Inc. Stock Is Falling Today” published on September 29, 2016 as well as Prnewswire.com‘s news article titled: “Sally Beauty Holdings Opens 5000th Location In Fort Worth, TX” with publication date: January 25, 2016.

According to Zacks Investment Research, “SALLY BEAUTY HOLDING INC is an international specialty retailer and distributor of professional beauty supplies with revenues of more than $2.5 billion annually. Through they Supply and Beauty Systems Group businesses, the Company sells and distributes through over 3,500 stores, including approximately 200 franchised units, throughout the United States, the United Kingdom, Canada, Puerto Rico, Mexico, Japan, Ireland, Spain and Germany.”

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

Out of 13 analysts covering Sally Beauty Holdings (NYSE:SBH), 3 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 23% are positive. Sally Beauty Holdings has been the topic of 23 analyst reports since August 5, 2015 according to StockzIntelligence Inc. On Wednesday, April 20 the stock rating was initiated by BB&T Capital with “Hold”. B. Riley & Co downgraded Sally Beauty Holdings, Inc. (NYSE:SBH) rating on Friday, August 7. B. Riley & Co has “Neutral” rating and $30 price target. The stock of Sally Beauty Holdings, Inc. (NYSE:SBH) has “Underperform” rating given on Thursday, October 22 by Wells Fargo. The firm earned “Market Perform” rating on Thursday, June 2 by Wells Fargo. On Tuesday, November 10 the stock rating was maintained by Oppenheimer with “Perform”. Oppenheimer upgraded Sally Beauty Holdings, Inc. (NYSE:SBH) on Tuesday, January 26 to “Outperform” rating. The rating was downgraded by Morgan Stanley to “Equal-Weight” on Tuesday, January 19. Goldman Sachs upgraded the stock to “Buy” rating in Wednesday, November 18 report. Morgan Stanley maintained the stock with “Equal-Weight” rating in Monday, March 14 report. KeyBanc Capital Markets upgraded the stock to “Overweight” rating in Tuesday, December 15 report.

SBH Company Profile

Sally Beauty Holdings, Inc., incorporated on June 16, 2006, is an international specialty retailer and distributor of professional beauty supplies with activities primarily in North America, South America and Europe. The Firm operates through two business divisions: Sally Beauty Supply and Beauty Systems Group (BSG). Sally Beauty Supply is a domestic and international chain of cash and carry retail stores, which offers professional beauty supplies to both salon professionals and retail clients primarily in North America, Puerto Rico, and parts of Europe and South America. BSG, including its franchise business Armstrong McCall, is a full service beauty supply distributor, which offers professional brands of beauty products directly to salons and salon professionals through its own sales force and professional-only stores (including franchise stores) in partially exclusive geographical territories in North America and parts of Europe. As of September 30, 2016, the Company operated a multi-channel platform of 4,937 company-operated stores and supplied 182 franchised stores. Sally Beauty Supply targets retail clients and salon professionals, while BSG targets salons and salon professionals.

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