Portside Wealth Group LLC Boosts Stake in e.l.f. Beauty, Inc. (NYSE:ELF)

Portside Wealth Group LLC lifted its position in e.l.f. Beauty, Inc. (NYSE:ELF) by 68.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,582 shares of the company’s stock after purchasing an additional 2,674 shares during the quarter. Portside Wealth Group LLC’s holdings in e.l.f. Beauty were worth $413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wesbanco Bank Inc. boosted its holdings in shares of e.l.f. Beauty by 92.0% in the 1st quarter. Wesbanco Bank Inc. now owns 17,060 shares of the company’s stock worth $1,071,000 after purchasing an additional 8,176 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of e.l.f. Beauty by 24.7% in the 1st quarter. Park Avenue Securities LLC now owns 12,038 shares of the company’s stock worth $756,000 after purchasing an additional 2,387 shares in the last quarter. Independence Bank of Kentucky boosted its holdings in shares of e.l.f. Beauty by 299.8% in the 1st quarter. Independence Bank of Kentucky now owns 13,674 shares of the company’s stock worth $859,000 after purchasing an additional 10,254 shares in the last quarter. Congress Asset Management Co. boosted its holdings in shares of e.l.f. Beauty by 53.7% in the 1st quarter. Congress Asset Management Co. now owns 938,970 shares of the company’s stock worth $58,958,000 after purchasing an additional 327,980 shares in the last quarter. Finally, NBC Securities Inc. boosted its holdings in shares of e.l.f. Beauty by 141,950.0% in the 1st quarter. NBC Securities Inc. now owns 5,682 shares of the company’s stock worth $356,000 after purchasing an additional 5,678 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at e.l.f. Beauty

In other news, CEO Tarang Amin sold 2,405 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $117.61, for a total value of $282,852.05. Following the completion of the transaction, the chief executive officer now owns 186,586 shares of the company’s stock, valued at approximately $21,944,379.46. This represents a 1.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott Milsten sold 1,442 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $114.78, for a total value of $165,512.76. Following the completion of the transaction, the insider now directly owns 117,394 shares of the company’s stock, valued at $13,474,483.32. This represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,207 shares of company stock valued at $25,252,926 in the last 90 days. Insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ELF shares. Piper Sandler reiterated an “overweight” rating and issued a $109.00 price objective (up from $81.00) on shares of e.l.f. Beauty in a report on Thursday, May 29th. Raymond James upped their price objective on e.l.f. Beauty from $95.00 to $105.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 29th. Bank of America upped their price objective on e.l.f. Beauty from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, May 21st. UBS Group increased their target price on e.l.f. Beauty from $59.00 to $84.00 and gave the company a “neutral” rating in a report on Wednesday, May 21st. Finally, Truist Financial increased their target price on e.l.f. Beauty from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, June 6th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.71.

e.l.f. Beauty Trading Up 1.2%

ELF opened at $117.93 on Wednesday. The business has a 50 day simple moving average of $74.61 and a two-hundred day simple moving average of $91.36. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 69.78, a PEG ratio of 6.76 and a beta of 1.52. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.17. e.l.f. Beauty, Inc. has a one year low of $49.40 and a one year high of $219.77.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings results on Wednesday, May 28th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $332.65 million during the quarter, compared to analyst estimates of $327.45 million. e.l.f. Beauty had a return on equity of 16.88% and a net margin of 7.55%. e.l.f. Beauty’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 EPS. Analysts predict that e.l.f. Beauty, Inc. will post 2.38 EPS for the current year.

e.l.f. Beauty Profile

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.