Peregrine Capital Management LLC Reduces Stake in e.l.f. Beauty $ELF

Peregrine Capital Management LLC lowered its stake in e.l.f. Beauty (NYSE:ELF) by 4.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 71,773 shares of the company’s stock after selling 3,506 shares during the period. Peregrine Capital Management LLC’s holdings in e.l.f. Beauty were worth $8,931,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in e.l.f. Beauty in the first quarter worth about $33,000. Parallel Advisors LLC grew its position in e.l.f. Beauty by 167.9% in the second quarter. Parallel Advisors LLC now owns 627 shares of the company’s stock worth $78,000 after acquiring an additional 393 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of e.l.f. Beauty by 56.5% during the first quarter. Larson Financial Group LLC now owns 676 shares of the company’s stock valued at $42,000 after buying an additional 244 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of e.l.f. Beauty by 577.7% during the first quarter. Smartleaf Asset Management LLC now owns 759 shares of the company’s stock valued at $49,000 after buying an additional 647 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new position in shares of e.l.f. Beauty during the second quarter valued at approximately $106,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Activity

In other news, SVP Joshua Allen Franks sold 7,913 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $145.00, for a total transaction of $1,147,385.00. Following the sale, the senior vice president directly owned 99,369 shares of the company’s stock, valued at $14,408,505. The trade was a 7.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mandy J. Fields sold 5,298 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $150.21, for a total transaction of $795,812.58. Following the sale, the insider directly owned 58,856 shares in the company, valued at $8,840,759.76. This trade represents a 8.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 301,060 shares of company stock valued at $40,994,733. 3.90% of the stock is owned by corporate insiders.

e.l.f. Beauty Stock Performance

e.l.f. Beauty stock opened at $126.56 on Tuesday. The company has a market capitalization of $7.51 billion, a PE ratio of 74.45, a P/E/G ratio of 2.86 and a beta of 1.57. e.l.f. Beauty has a fifty-two week low of $49.40 and a fifty-two week high of $150.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.34 and a current ratio of 3.26. The company has a 50 day moving average price of $131.88 and a 200-day moving average price of $110.72.

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

Analyst Upgrades and Downgrades

ELF has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of e.l.f. Beauty in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on e.l.f. Beauty from $130.00 to $168.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. UBS Group boosted their target price on e.l.f. Beauty from $112.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Piper Sandler restated an “overweight” rating on shares of e.l.f. Beauty in a research report on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered e.l.f. Beauty from a “buy” rating to a “hold” rating and boosted their target price for the company from $121.00 to $128.00 in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, e.l.f. Beauty presently has an average rating of “Moderate Buy” and an average target price of $142.73.

About e.l.f. Beauty

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.