36,500 Shares in e.l.f. Beauty $ELF Purchased by WT Asset Management Ltd

WT Asset Management Ltd purchased a new position in e.l.f. Beauty (NYSE:ELF) during the second quarter, Holdings Channel reports. The fund purchased 36,500 shares of the company’s stock, valued at approximately $4,542,000. e.l.f. Beauty makes up about 0.3% of WT Asset Management Ltd’s holdings, making the stock its 23rd largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aurora Investment Counsel purchased a new position in shares of e.l.f. Beauty in the 1st quarter worth about $294,000. Caas Capital Management LP boosted its holdings in shares of e.l.f. Beauty by 1,466.7% in the 1st quarter. Caas Capital Management LP now owns 4,700 shares of the company’s stock worth $295,000 after buying an additional 4,400 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of e.l.f. Beauty by 42.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company’s stock worth $6,482,000 after buying an additional 30,530 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in e.l.f. Beauty by 165.6% during the first quarter. Vontobel Holding Ltd. now owns 15,181 shares of the company’s stock valued at $953,000 after purchasing an additional 9,466 shares during the last quarter. Finally, Generate Investment Management Ltd purchased a new stake in e.l.f. Beauty during the first quarter valued at about $21,650,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

e.l.f. Beauty Trading Down 0.8%

Shares of ELF opened at $134.88 on Friday. The business’s 50-day moving average price is $126.47 and its 200-day moving average price is $102.04. e.l.f. Beauty has a twelve month low of $49.40 and a twelve month high of $150.99. The stock has a market cap of $8.00 billion, a PE ratio of 79.34, a P/E/G ratio of 3.15 and a beta of 1.57. 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 announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The firm had revenue of $353.74 million for the quarter, compared to analysts’ expectations of $348.99 million. During the same period in the prior year, the business posted $1.10 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts forecast that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group dropped their price objective on shares of e.l.f. Beauty from $120.00 to $112.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Piper Sandler assumed coverage on shares of e.l.f. Beauty in a report on Thursday, September 4th. They set an “overweight” rating and a $150.00 price objective on the stock. Morgan Stanley raised shares of e.l.f. Beauty from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $114.00 to $134.00 in a report on Monday, August 11th. Truist Financial upped their price objective on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, June 6th. Finally, The Goldman Sachs Group upped their price objective on shares of e.l.f. Beauty from $137.00 to $155.00 and gave the company a “buy” rating in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, e.l.f. Beauty currently has a consensus rating of “Moderate Buy” and an average price target of $134.60.

Insider Buying and Selling

In related news, insider Scott Milsten sold 55,581 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $134.56, for a total value of $7,478,979.36. Following the transaction, the insider directly owned 112,406 shares in the company, valued at approximately $15,125,351.36. This represents a 33.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mandy J. Fields sold 55,692 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $136.28, for a total transaction of $7,589,705.76. Following the completion of the transaction, the insider owned 64,154 shares in the company, valued at approximately $8,742,907.12. This trade represents a 46.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,060 shares of company stock valued at $40,994,733 in the last 90 days. 3.90% of the stock is owned by company insiders.

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.