Prime Capital Investment Advisors LLC Reduces Stake in e.l.f. Beauty $ELF

Prime Capital Investment Advisors LLC reduced its holdings in e.l.f. Beauty (NYSE:ELF) by 39.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,307 shares of the company’s stock after selling 2,164 shares during the period. Prime Capital Investment Advisors LLC’s holdings in e.l.f. Beauty were worth $412,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ELF. Park Avenue Securities LLC boosted its holdings in e.l.f. Beauty by 24.7% in the first quarter. Park Avenue Securities LLC now owns 12,038 shares of the company’s stock valued at $756,000 after purchasing an additional 2,387 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of e.l.f. Beauty by 132.2% in the first quarter. GAMMA Investing LLC now owns 1,999 shares of the company’s stock worth $126,000 after buying an additional 1,138 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of e.l.f. Beauty by 1.0% in the first quarter. Fifth Third Bancorp now owns 21,751 shares of the company’s stock worth $1,366,000 after buying an additional 216 shares during the last quarter. Robbins Farley boosted its stake in shares of e.l.f. Beauty by 3.6% in the first quarter. Robbins Farley now owns 35,646 shares of the company’s stock worth $2,238,000 after buying an additional 1,250 shares during the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in e.l.f. Beauty in the 1st quarter worth approximately $486,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

e.l.f. Beauty Stock Down 10.8%

Shares of NYSE ELF opened at $129.37 on Friday. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 76.10, a price-to-earnings-growth ratio of 3.37 and a beta of 1.57. e.l.f. Beauty has a 52-week low of $49.40 and a 52-week high of $150.99. The company’s 50-day simple moving average is $128.38 and its 200-day simple moving average is $104.65. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The firm had revenue of $353.74 million for the quarter, compared to analyst estimates of $348.99 million. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. e.l.f. Beauty’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $1.10 EPS. Equities analysts predict that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on ELF. UBS Group upped their price objective on e.l.f. Beauty from $112.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft downgraded shares of e.l.f. Beauty from a “buy” rating to a “hold” rating and increased their price target for the stock from $121.00 to $128.00 in a report on Tuesday, September 2nd. The Goldman Sachs Group increased their price target on shares of e.l.f. Beauty from $137.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Raymond James Financial reissued a “strong-buy” rating and set a $155.00 target price (up from $140.00) on shares of e.l.f. Beauty in a research note on Monday, September 8th. Finally, Piper Sandler began coverage on shares of e.l.f. Beauty in a research note on Thursday, September 4th. They set an “overweight” rating and a $150.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, e.l.f. Beauty presently has an average rating of “Moderate Buy” and an average price target of $142.07.

Insider Transactions at e.l.f. Beauty

In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 7,913 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $145.00, for a total value of $1,147,385.00. Following the transaction, the senior vice president owned 99,369 shares in the company, valued at approximately $14,408,505. This trade represents a 7.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott Milsten sold 55,581 shares of e.l.f. Beauty stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $134.56, for a total transaction of $7,478,979.36. Following the sale, the insider directly owned 112,406 shares in the company, valued at approximately $15,125,351.36. This trade represents a 33.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 301,060 shares of company stock worth $40,994,733 in the last quarter. 3.90% of the stock is owned by insiders.

e.l.f. Beauty Company 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.