Provident Investment Management Inc. Sells 2,161 Shares of Ulta Beauty Inc (NASDAQ:ULTA)

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Provident Investment Management Inc. lowered its holdings in Ulta Beauty Inc (NASDAQ:ULTA) by 62.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,297 shares of the specialty retailer’s stock after selling 2,161 shares during the period. Provident Investment Management Inc.’s holdings in Ulta Beauty were worth $450,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Advisors LLC bought a new stake in Ulta Beauty in the 2nd quarter valued at about $26,000. Motco bought a new stake in shares of Ulta Beauty during the 1st quarter worth approximately $29,000. Next Capital Management LLC lifted its holdings in shares of Ulta Beauty by 206.7% during the 2nd quarter. Next Capital Management LLC now owns 92 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 62 shares during the period. NEXT Financial Group Inc lifted its holdings in shares of Ulta Beauty by 42.0% during the 2nd quarter. NEXT Financial Group Inc now owns 98 shares of the specialty retailer’s stock worth $34,000 after acquiring an additional 29 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Ulta Beauty during the 2nd quarter worth approximately $34,000. 88.92% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:ULTA traded down $4.77 on Tuesday, hitting $325.45. The company had a trading volume of 47,005 shares, compared to its average volume of 725,513. The stock has a market capitalization of $19.30 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 1.37 and a beta of 0.96. The company has a current ratio of 1.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.85. The firm has a 50 day moving average of $343.23 and a two-hundred day moving average of $337.53. Ulta Beauty Inc has a 52 week low of $224.43 and a 52 week high of $368.83.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, May 30th. The specialty retailer reported $3.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.06 by $0.02. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. Ulta Beauty had a net margin of 9.92% and a return on equity of 36.48%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.70 EPS. As a group, equities analysts forecast that Ulta Beauty Inc will post 12.77 EPS for the current year.

In other Ulta Beauty news, Director Catherine Ann Halligan sold 400 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $343.02, for a total value of $137,208.00. Following the completion of the transaction, the director now directly owns 2,811 shares in the company, valued at approximately $964,229.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lorna Nagler sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $354.03, for a total transaction of $708,060.00. Following the completion of the transaction, the director now owns 8,368 shares of the company’s stock, valued at $2,962,523.04. The disclosure for this sale can be found here. In the last three months, insiders sold 2,715 shares of company stock valued at $958,441. 4.20% of the stock is owned by insiders.

A number of analysts have recently weighed in on ULTA shares. ValuEngine downgraded shares of Ulta Beauty from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of Ulta Beauty from a “hold” rating to a “buy” rating and set a $384.00 price target for the company in a report on Monday, May 20th. Morgan Stanley upped their price target on shares of Ulta Beauty from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. BidaskClub downgraded shares of Ulta Beauty from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Piper Jaffray Companies set a $360.00 price target on shares of Ulta Beauty and gave the stock a “buy” rating in a report on Friday, May 31st. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $354.50.

About Ulta Beauty

Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; salon services, including hair, skin, makeup, and brow services; and others, including nail products and accessories.

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Institutional Ownership by Quarter for Ulta Beauty (NASDAQ:ULTA)

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