American Assets Inc. Takes Position in e.l.f. Beauty (NYSE:ELF)

Key Points

• American Assets Inc. acquired a new stake in e.l.f. Beauty, purchasing 12,600 shares valued at approximately $791,000, which represents about 0.3% of their portfolio.
• Despite a slight 0.1% dip in share price, e.l.f. Beauty has shown strong quarterly performance with $0.78 EPS, exceeding estimates and with a 3.6% year-over-year revenue increase.
• Hedge funds and institutional investors currently own approximately 92.44% of e.l.f. Beauty stock, indicating strong institutional interest in the company.

American Assets Inc. purchased a new position in e.l.f. Beauty (NYSE:ELF - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,600 shares of the company's stock, valued at approximately $791,000. e.l.f. Beauty accounts for approximately 0.3% of American Assets Inc.'s holdings, making the stock its 18th biggest position.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of e.l.f. Beauty in the fourth quarter worth $7,403,000. Pictet Asset Management Holding SA grew its position in e.l.f. Beauty by 11.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,120 shares of the company's stock worth $1,019,000 after purchasing an additional 837 shares during the period. Franklin Resources Inc. grew its position in e.l.f. Beauty by 2,769.8% during the 4th quarter. Franklin Resources Inc. now owns 72,032 shares of the company's stock worth $9,044,000 after purchasing an additional 69,522 shares during the period. Savoir Faire Capital Management L.P. raised its stake in shares of e.l.f. Beauty by 40.1% during the 4th quarter. Savoir Faire Capital Management L.P. now owns 98,350 shares of the company's stock valued at $12,348,000 after buying an additional 28,126 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of e.l.f. Beauty by 7.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 198,673 shares of the company's stock valued at $24,943,000 after buying an additional 13,118 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

e.l.f. Beauty Price Performance

ELF stock traded down $10.50 during midday trading on Thursday, reaching $99.90. The stock had a trading volume of 7,610,339 shares, compared to its average volume of 1,764,758. e.l.f. Beauty has a 52-week low of $49.40 and a 52-week high of $188.15. The company has a current ratio of 3.05, a quick ratio of 2.00 and a debt-to-equity ratio of 0.34. The company's fifty day simple moving average is $118.86 and its 200 day simple moving average is $88.46. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 58.76, a price-to-earnings-growth ratio of 2.63 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $353.74 million for the quarter, compared to the consensus estimate of $348.99 million. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.65%. The company's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $1.10 earnings per share. As a group, sell-side analysts predict that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on ELF shares. B. Riley reaffirmed a "buy" rating and set a $150.00 target price (up from $110.00) on shares of e.l.f. Beauty in a report on Friday, June 13th. JPMorgan Chase & Co. dropped their price objective on shares of e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday. Truist Financial lifted their target price 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. Raymond James Financial increased their price target on shares of e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Finally, Jefferies Financial Group set a $115.00 price target on shares of e.l.f. Beauty and gave the company a "buy" rating in a research report on Thursday, May 29th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, e.l.f. Beauty currently has an average rating of "Moderate Buy" and a consensus target price of $123.31.

Insider Buying and Selling at e.l.f. Beauty

In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 11,860 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $115.56, for a total transaction of $1,370,541.60. Following the transaction, the senior vice president owned 121,967 shares of the company's stock, valued at approximately $14,094,506.52. The trade was a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott Milsten sold 11,860 shares of the company's stock in a transaction on 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 completion of the sale, the insider owned 118,836 shares of the company's stock, valued at approximately $13,732,688.16. The trade was a 9.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 126,589 shares of company stock worth $14,547,949. 3.90% of the stock is owned by company insiders.

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.