Top 5 New Stocks Billionaire Ken Fisher Just Bought

4. Sally Beauty Holdings, Inc. (NYSE:SBH) 

Fisher Asset Management bought up nearly 2% of Sally Beauty Holdings, Inc. (NYSE:SBH)’s outstanding shares during Q3, 2.22 million in total, making a big investment in the supplier of beauty products. Multiple other hedge funds are extremely bullish on SBH, as Arrowstreet Capital (2.27 million shares) and Cliff Asness’ AQR Capital (3.68 million shares) also had large ownership stakes in the company as of June 30.

Sally Beauty shares are still down by 46% year-to-date, sliding down further on November 11 despite relatively impressive fiscal Q4 results. Net sales of $958 million were down by just 1% year-over-year following a 28% slide in fiscal Q3, while diluted EPS of $0.99 and free cash flow of $131 million were both strong. The company grew e-commerce sales by 69% during the quarter and managed to reduce its debt levels by nearly $450 million during its fiscal 2020.