American Alpha Advisors LLC Buys 16,000 Shares of e.l.f. Beauty (NYSE:ELF)

Key Points

• American Alpha Advisors LLC increased its stake in e.l.f. Beauty by 168.8%, acquiring an additional 16,000 shares to reach a total of 25,479 shares, making it the firm's 15th largest holding.
• e.l.f. Beauty reported earnings of $0.89 per share for the quarter, surpassing expectations and showing a 9% year-over-year revenue growth with total revenue of $353.74 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for e.l.f. Beauty, with target prices ranging from $105.00 to $135.00, indicating strong growth potential for the stock.

American Alpha Advisors LLC grew its stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 168.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,479 shares of the company's stock after purchasing an additional 16,000 shares during the period. e.l.f. Beauty makes up 1.3% of American Alpha Advisors LLC's investment portfolio, making the stock its 15th largest holding. American Alpha Advisors LLC's holdings in e.l.f. Beauty were worth $1,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Orion Capital Management LLC purchased a new position in e.l.f. Beauty during the 4th quarter valued at about $30,000. Golden State Wealth Management LLC purchased a new position in e.l.f. Beauty during the 1st quarter valued at about $33,000. Larson Financial Group LLC lifted its position in e.l.f. Beauty by 56.5% during the 1st quarter. Larson Financial Group LLC now owns 676 shares of the company's stock valued at $42,000 after acquiring an additional 244 shares during the period. Signaturefd LLC lifted its position in e.l.f. Beauty by 27.9% during the 1st quarter. Signaturefd LLC now owns 858 shares of the company's stock valued at $54,000 after acquiring an additional 187 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in e.l.f. Beauty during the 1st quarter valued at about $69,000. Institutional investors own 92.44% of the company's stock.

e.l.f. Beauty Stock Up 1.9%

ELF opened at $101.82 on Friday. The company has a quick ratio of 2.00, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average price of $118.65 and a 200-day moving average price of $88.14. e.l.f. Beauty has a twelve month low of $49.40 and a twelve month high of $172.49. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 59.89, a PEG ratio of 2.42 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings data 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 net margin of 7.29% and a return on equity of 16.36%. The firm had revenue of $353.74 million during the quarter, compared to analysts' expectations of $348.99 million. During the same period in the previous year, the company earned $1.10 earnings per share. The firm's quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts forecast that e.l.f. Beauty will post 2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ELF. Raymond James Financial lifted their price target on shares of e.l.f. Beauty from $95.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and set a $109.00 price target (up from $81.00) on shares of e.l.f. Beauty in a research report on Thursday, May 29th. Deutsche Bank Aktiengesellschaft raised shares of e.l.f. Beauty from a "hold" rating to a "buy" rating and set a $121.00 target price for the company in a report on Friday. JPMorgan Chase & Co. decreased their target price on shares of e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday. Finally, Bank of America lifted their target price on shares of e.l.f. Beauty from $113.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, e.l.f. Beauty currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.56.

Insider Activity

In related news, insider Jennifer Catherine Hartnett sold 18,383 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $109.99, for a total transaction of $2,021,946.17. Following the completion of the sale, the insider directly owned 54,163 shares in the company, valued at approximately $5,957,388.37. The trade was a 25.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Joshua Allen Franks sold 11,860 shares of the business's stock in a transaction that occurred on 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 sale, the senior vice president owned 121,967 shares of the company's stock, valued at $14,094,506.52. This trade represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 126,589 shares of company stock valued at $14,547,949 over the last three months. Corporate insiders own 3.90% of the company's stock.

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.

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