BlackRock Inc. Acquires New Stake in e.l.f. Beauty $ELF

Key Points

• BlackRock acquired 5.79 million shares of e.l.f. Beauty during the second quarter, worth approximately $428.3 million and representing a 9.82% stake. Institutional investors collectively own 92.44% of the company.
• e.l.f. Beauty reported strong quarterly results, with EPS of $1.75 versus the $0.71 consensus and revenue of $479.37 million, up 35.5% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and a $91.31 average price target, while insiders have sold $10.1 million worth of shares over the past three months.

BlackRock Inc. bought a new stake in e.l.f. Beauty (NYSE:ELF - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,787,329 shares of the company's stock, valued at approximately $428,262,000. BlackRock Inc. owned 9.82% of e.l.f. Beauty as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Deutsche Bank AG purchased a new position in e.l.f. Beauty in the second quarter worth about $3,365,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at about $2,375,000. Global Retirement Partners LLC purchased a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at about $329,000. Bank of New York Mellon Corp bought a new position in shares of e.l.f. Beauty in the 2nd quarter worth approximately $23,624,000. Finally, State of Wyoming bought a new position in shares of e.l.f. Beauty in the 2nd quarter worth approximately $40,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Lauren Cooks Levitan sold 1,034 shares of e.l.f. Beauty stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $93.15, for a total transaction of $96,317.10. Following the sale, the director owned 10,516 shares in the company, valued at $979,565.40. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Tarang Amin sold 50,164 shares of e.l.f. Beauty stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $78.24, for a total transaction of $3,924,831.36. Following the sale, the chief executive officer owned 110,496 shares in the company, valued at approximately $8,645,207.04. The trade was a 31.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 140,780 shares of company stock valued at $10,091,078 in the last three months. 3.50% of the stock is currently owned by insiders.

e.l.f. Beauty Stock Down 0.1%

Shares of ELF stock opened at $105.90 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.55 and a quick ratio of 1.82. e.l.f. Beauty has a one year low of $48.82 and a one year high of $150.99. The company's fifty day moving average price is $81.10 and its 200-day moving average price is $72.39. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of 105.90, a PEG ratio of 3.29 and a beta of 1.58.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $0.71 by $1.04. The company had revenue of $479.37 million during the quarter, compared to the consensus estimate of $431.20 million. e.l.f. Beauty had a net margin of 3.38% and a return on equity of 14.07%. e.l.f. Beauty's quarterly revenue was up 35.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. Sell-side analysts expect that e.l.f. Beauty will post 2.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ELF. Bank of America cut their target price on shares of e.l.f. Beauty from $93.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, May 21st. Canaccord Genuity Group increased their price target on shares of e.l.f. Beauty from $97.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday, August 19th. Jefferies Financial Group lifted their price target on shares of e.l.f. Beauty from $72.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. UBS Group boosted their price objective on shares of e.l.f. Beauty from $80.00 to $89.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Finally, Raymond James Financial upped their price objective on e.l.f. Beauty from $85.00 to $87.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.31.

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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