The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Sally Beauty Holdings Inc shares valued at $129,520 were sold by Sherman Scott C on Feb 22 ’24. At $12.95 per share, Sherman Scott C sold 10,000 shares. The insider’s holdings dropped to 35,014 shares worth approximately $0.38 million following the completion of this transaction.
Also, Paulonis Denise purchased 4,000 shares, netting a total of over 45,160 in proceeds. Following the buying of shares at $11.29 each, the insider now holds 170,826 shares.
As published in their initiating research note from Piper Sandler on December 15, 2022, Sally Beauty Holdings Inc [SBH] has been an Overweight and the price target has been revised to $15. Analysts at Cowen downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in mid August. As of June 29, 2022, Raymond James has decreased its “Mkt perform” rating to a “an Underperform” for SBH. Earlier on June 16, 2022, Morgan Stanley downgraded its rating. Their new recommendation was “an Underweight” for SBH stock which previously was a “an Equal-weight”.
Analyzing SBH Stock Performance
During the last five days, there has been a drop of approximately -1.27%. Over the course of the year, Sally Beauty Holdings Inc shares have dropped approximately -17.77%. Shares of the company reached a 52-week high of $13.91 on 02/15/24 and a 52-week low of $10.55 on 04/10/24. A 50-day SMA is recorded $12.40, while a 200-day SMA reached $10.97. Nevertheless, trading volume fell to 1.48 million shares from 1.23 million shares the previous day.
Support And Resistance Levels for Sally Beauty Holdings Inc (SBH)
According to the 24-hour chart, there is a support level at 10.67, which, if violated, would cause prices to drop to 10.41. In the upper region, resistance lies at 11.06. The next price resistance is at 11.19. RSI (Relative Strength Index) is 39.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.63, which suggests the price will decrease in the coming days. Percent R is at 83.03%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Sally Beauty Holdings Inc subject to short interest?
Stocks of Sally Beauty Holdings Inc saw a sharp steep in short interest on Mar 28, 2024 dropping by -1.58 million shares to 12.87 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 14.45 million shares. A decline of -12.28% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.57 of the overall float, the days-to-cover ratio (short ratio) decline to 8.57.
