Bank of New York Mellon Corp Cuts Stock Position in e.l.f. Beauty $ELF

Bank of New York Mellon Corp cut its holdings in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 360,950 shares of the company's stock after selling 12,217 shares during the period. Bank of New York Mellon Corp owned about 0.61% of e.l.f. Beauty worth $21,877,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ELF. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of e.l.f. Beauty in the 4th quarter valued at about $26,000. Hilton Head Capital Partners LLC purchased a new position in shares of e.l.f. Beauty during the fourth quarter worth about $32,000. EverSource Wealth Advisors LLC grew its stake in e.l.f. Beauty by 97.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company's stock worth $32,000 after buying an additional 128 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of e.l.f. Beauty by 58.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company's stock valued at $39,000 after acquiring an additional 117 shares during the period. Finally, Arax Advisory Partners acquired a new position in e.l.f. Beauty in the fourth quarter valued at $41,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other e.l.f. Beauty news, insider Jennifer Catherine Hartnett sold 25,357 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $80.00, for a total transaction of $2,028,560.00. Following the completion of the sale, the insider owned 28,699 shares in the company, valued at $2,295,920. This trade represents a 46.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mandy J. Fields sold 8,464 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $51.94, for a total transaction of $439,620.16. Following the sale, the insider directly owned 111,288 shares of the company's stock, valued at $5,780,298.72. The trade was a 7.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 121,855 shares of company stock valued at $8,351,493. Corporate insiders own 3.50% of the company's stock.

e.l.f. Beauty Trading Down 0.0%

NYSE ELF opened at $83.97 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.69 and a current ratio of 2.35. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 182.55, a PEG ratio of 3.28 and a beta of 1.59. The company's 50 day moving average price is $66.14 and its 200 day moving average price is $71.67. e.l.f. Beauty has a one year low of $48.82 and a one year high of $150.99.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. e.l.f. Beauty had a net margin of 1.61% and a return on equity of 11.02%. The firm had revenue of $449.29 million during the quarter, compared to analysts' expectations of $423.06 million. During the same period in the prior year, the company earned $0.78 EPS. The firm's revenue was up 35.1% on a year-over-year basis. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. On average, sell-side analysts predict that e.l.f. Beauty will post 2.41 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on ELF. Piper Sandler restated a "neutral" rating on shares of e.l.f. Beauty in a research note on Friday, June 12th. Bank of America decreased their price target on e.l.f. Beauty from $93.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. Jefferies Financial Group increased their price objective on shares of e.l.f. Beauty from $72.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday. Morgan Stanley lowered their target price on e.l.f. Beauty from $67.00 to $59.00 and set an "equal weight" rating on the stock in a report on Thursday, May 21st. Finally, Canaccord Genuity Group lifted their price target on shares of e.l.f. Beauty from $90.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $79.75.

About e.l.f. Beauty

e.l.f. Beauty NYSE: ELF is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company's portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.

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