Teca Partners LP Acquires Shares of 199,964 e.l.f. Beauty $ELF

Key Points

• Teca Partners LP acquired 199,964 shares of e.l.f. Beauty valued at approximately $12.56 million, making it the 6th largest position in their investment portfolio.
• Multiple institutional investors, including Aspex Management and Prime Capital Management, have significantly increased their stakes in e.l.f. Beauty, highlighting growing interest in the company.
• e.l.f. Beauty reported earnings of $0.89 per share for the latest quarter, exceeding analyst expectations of $0.84, and noted a 9% increase in revenue compared to the previous year.

Teca Partners LP purchased a new stake in e.l.f. Beauty (NYSE:ELF - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 199,964 shares of the company's stock, valued at approximately $12,556,000. e.l.f. Beauty makes up 9.0% of Teca Partners LP's holdings, making the stock its 6th largest position. Teca Partners LP owned 0.35% of e.l.f. Beauty as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ELF. Orion Capital Management LLC acquired a new position in e.l.f. Beauty in the 4th quarter valued at $30,000. Golden State Wealth Management LLC bought a new position in shares of e.l.f. Beauty in the first quarter worth $33,000. Larson Financial Group LLC raised its stake in e.l.f. Beauty by 56.5% in the first quarter. Larson Financial Group LLC now owns 676 shares of the company's stock valued at $42,000 after purchasing an additional 244 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in e.l.f. Beauty by 577.7% during the first quarter. Smartleaf Asset Management LLC now owns 759 shares of the company's stock worth $49,000 after purchasing an additional 647 shares during the period. Finally, Signaturefd LLC lifted its position in e.l.f. Beauty by 27.9% during the first quarter. Signaturefd LLC now owns 858 shares of the company's stock worth $54,000 after purchasing an additional 187 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

e.l.f. Beauty Stock Up 3.8%

Shares of ELF traded up $4.77 during trading hours on Thursday, hitting $129.67. The stock had a trading volume of 2,197,155 shares, compared to its average volume of 2,497,955. The firm has a 50 day simple moving average of $118.29 and a 200-day simple moving average of $90.40. e.l.f. Beauty has a 1-year low of $49.40 and a 1-year high of $155.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.34. The firm has a market capitalization of $7.69 billion, a P/E ratio of 76.28, a price-to-earnings-growth ratio of 3.08 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $353.74 million for the quarter, compared to analyst estimates of $348.99 million. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The company's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 earnings per share. Sell-side analysts predict that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

Insider Activity

In other news, SVP Joshua Allen Franks sold 11,860 shares of e.l.f. Beauty stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $115.56, for a total transaction of $1,370,541.60. Following the completion of the transaction, the senior vice president directly owned 121,967 shares in the company, valued at $14,094,506.52. This trade represents a 8.86% 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 Kory Marchisotto sold 11,860 shares of e.l.f. Beauty stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $115.56, for a total value of $1,370,541.60. Following the transaction, the insider owned 159,799 shares of the company's stock, valued at $18,466,372.44. This trade represents a 6.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,836 shares of company stock valued at $13,076,695. 3.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on ELF shares. The Goldman Sachs Group boosted their target price on shares of e.l.f. Beauty from $120.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Morgan Stanley raised shares of e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $114.00 to $134.00 in a research note on Monday, August 11th. Raymond James Financial upped their target price on e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. B. Riley reaffirmed a "buy" rating and issued a $150.00 target price (up previously from $110.00) on shares of e.l.f. Beauty in a report on Friday, June 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of e.l.f. Beauty from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $123.81.

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.