Stock traders buy large volume of put options on Sally Beauty (NYSE: SBH)

On Friday, Sally Beauty Holdings, Inc. (NYSE:SBH) benefited from unusually heavy options trading activity. Traders acquired 3,094 put options on the company. This represents a 743% increase from the typical daily volume of 367 put options.

Shares of SBH traded down $0.38 during Friday’s midday session, hitting $17.05. The company’s stock had a trading volume of 1,606,132 shares, compared to its average volume of 1,233,517. The company’s 50-day moving average is $19.04 and its 200-day moving average is of $18.46. Sally Beauty has a 52-week low of $14.06 and a 52-week high of $25.66. The company has a market capitalization of $1.93 billion, a price-earnings ratio of 8.34 and a beta of 1.46. The company has a current ratio of 2.08, a quick ratio of 0.77 and a debt ratio of 4.92.

Sally Beauty Inc (NYSE:SBH) last announced its quarterly results on Thursday, November 11. The specialty retailer reported earnings per share of $0.63 for the quarter, beating the consensus estimate of $0.51 by $0.12. Sally Beauty had a net margin of 6.19% and a return on equity of 148.76%. The company posted revenue of $990.26 million in the quarter, compared to $971.72 million expected by analysts. In the same quarter of the previous year, the company achieved EPS of $0.63. As a group, sell-side analysts expect Sally Beauty to post earnings per share of 2.59 for the current fiscal year.

Several equity research analysts have published reports on SBH shares. Morgan Stanley raised its price target on Sally Beauty shares from $22.00 to $23.00 and gave the company an “equal weight” rating in a Monday, November 15 research report. Zacks Investment Research moved shares of Sally Beauty from a “hold” rating to a “strong-buy” rating and set a $24.00 price target for the company in a Tuesday, November 16 research report . Finally, Oppenheimer lowered his price target on Sally Beauty shares from $24.00 to $22.00 and set an “outperform” rating for the company in a Thursday, November 4 research report. Three research analysts gave the stock a hold rating, two gave the company a buy rating and one gave the company’s stock a strong buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $24.20.

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In related news, director Susan R. Mulder sold 5,000 shares of Sally Beauty in a trade dated Friday, November 26. The shares were sold at an average price of $20.14, for a total transaction of $100,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Additionally, director Susan R. Mulder sold 2,901 shares of Sally Beauty in a trade dated Thursday, Dec. 9. The stock was sold at an average price of $21.00, for a total transaction of $60,921.00. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 15,401 shares of the company worth $319,171. Insiders own 1.74% of the shares of the company.

Several hedge funds and other institutional investors have been buying and selling stocks recently. Allspring Global Investments Holdings LLC purchased a new stock position in Sally Beauty during Q4 for a value of approximately $1,040,000. The New York State Teachers’ Retirement System increased its stake in Sally Beauty stock by 1.4% during the 4th quarter. The New York State Teachers’ Retirement System now owns 71,506 shares of the specialty retailer worth $1,320,000 after acquiring 993 additional shares in the last quarter. National Bank of Canada FI bought a new stock position in Sally Beauty during the 4th quarter for a value of approximately $126,000. Huntington National Bank increased its stake in Sally Beauty by 39.8% during the 4th quarter. National Bank Huntington now owns 3,768 shares of the specialty retailer valued at $70,000 after buying an additional 1,072 shares last quarter. Finally, Sciencast Management LP acquired a new position in Sally Beauty during Q4 valued at approximately $645,000.

About Sally Beauty

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

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