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Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA) Beats Expectations for Second Quarter

What does the smart money think about Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA)?

The top four shareholders of Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) trimmed their stakes in the company, as mentioned in their latest 13F Filings. Among them, Stephen Mandel’s Lone Pine Capital reduced its stake by 6% to 2.33 million shares, while Columbus Circle Investors, led by Donald Chiboucis, cut its position by 7%, to 1.61 million shares.

On the other hand, there was another group of hedge funds that increased their holdings in the company. Arrowstreet Capital, led by Peter Rathjens, Bruce Clarke, and John Campbell, boosted its stake in Ulta Salon, Cosmetics & Fragrance by 122%, closing the quarter with 699,409 shares.

The growth in the share prices of Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) in 2015 and positive second quarter fiscal 2015 results take precedence over the bearish hedge fund outlook. We would recommend a buy rating for the shares of the company.

Disclosure: None

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