Recent Insider Activity Could Benefit Sally Beauty Holdings Inc (SBH)

Sally Beauty Holdings Inc’s recently made public that its insider Sherman Scott C unloaded Company’s shares for reported $0.13 million on Feb 22 ’24. In the deal valued at $12.95 per share,10,000 shares were sold. As a result of this transaction, Sherman Scott C now holds 35,014 shares worth roughly $0.41 million.

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Then, Paulonis Denise bought 4,000 shares, generating $45,160 in total proceeds. Upon buying the shares at $11.29, the President & CEO now owns 170,826 shares.

Piper Sandler initiated its Sally Beauty Holdings Inc [SBH] rating to an Overweight in a research note published on December 15, 2022; the price target was $15. A number of analysts have revised their coverage, including Cowen’s analysts, who decreased its forecast for the stock in mid August from “an Outperform” to “a Market perform”. Raymond James also remained covering SBH and has decreased its forecast on June 29, 2022 with a “an Underperform” recommendation from previously “Mkt perform” rating. Morgan Stanley revised its rating on June 16, 2022. It rated SBH as “an Underweight” which previously was an “an Equal-weight”.

Price Performance Review of SBH

On Tuesday, Sally Beauty Holdings Inc [NYSE:SBH] saw its stock jump 1.81% to $11.84. Over the last five days, the stock has lost -4.13%. Sally Beauty Holdings Inc shares have fallen nearly -10.84% since the year began. Nevertheless, the stocks have fallen -23.02% over the past one year. While a 52-week high of $15.93 was reached on 02/15/24, a 52-week low of $7.21 was recorded on 01/16/24. SMA at 50 days reached $12.66, while 200 days put it at $10.99. A total of 1.26 million shares were traded, compared to the trading of 2.59 million shares in the previous session.

Levels Of Support And Resistance For SBH Stock

The 24-hour chart illustrates a support level at 11.66, which if violated will result in even more drops to 11.49. On the upside, there is a resistance level at 12.01. A further resistance level may holdings at 12.19. The Relative Strength Index (RSI) on the 14-day chart is 40.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.44, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.28%. Stochastics %K at 22.34% indicates the stock is a holding.

How much short interest is there in Sally Beauty Holdings Inc?

A steep rise in short interest was recorded in Sally Beauty Holdings Inc stocks on Feb 29, 2024, growing by 3.78 million shares to a total of 14.45 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 10.67 million shares. There was a rise of 26.16%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 24.96% of the overall stock float, the days-to-cover ratio (short ratio) rose to 9.53.

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