NEW YORK (TheStreet) -- Shares of Sally Beauty (SBH) - Get Report were dropping 5.5% to $26.47 on heavy trading volume midday Thursday as CFO Mark Flaherty will resign from his position effective tomorrow.
Flaherty is leaving to pursue other interests, according to a regulatory filing. The resignation was not the result of any disagreement with the company, Sally Beauty noted.
Janna Minton, the chief accounting officer and controller, will be the interim principal financial officer until a successor is appointed.
Sally Beauty is a Denton, TX-based retailer and distributor of beauty supplies.
More than 3.65 million of the company's shares changed hands so far today vs. its average 30-day volume of 2.55 million shares.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income and good cash flow from operations.
But the team finds that the stock has experienced relatively poor performance when compared with the S&P 500 during the past year.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: SBH