Boston Partners Invests $12.97 Million in e.l.f. Beauty $ELF

Key Points

• Boston Partners has acquired a new stake in e.l.f. Beauty, purchasing 210,126 shares worth approximately $12.97 million, representing about 0.37% of the company.
• e.l.f. Beauty reported $0.89 earnings per share for the last quarter, surpassing analyst expectations, with a year-over-year revenue increase of 9%.
• Analysts maintain a consensus rating of "Moderate Buy" for e.l.f. Beauty, with a target price of approximately $123.81.

Boston Partners bought a new stake in e.l.f. Beauty (NYSE:ELF - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 210,126 shares of the company's stock, valued at approximately $12,973,000. Boston Partners owned approximately 0.37% of e.l.f. Beauty as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of e.l.f. Beauty by 912.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,810 shares of the company's stock valued at $365,000 after acquiring an additional 5,236 shares in the last quarter. Trillium Asset Management LLC boosted its holdings in shares of e.l.f. Beauty by 59.0% in the first quarter. Trillium Asset Management LLC now owns 42,368 shares of the company's stock valued at $2,661,000 after acquiring an additional 15,727 shares in the last quarter. Nuveen LLC purchased a new stake in shares of e.l.f. Beauty in the first quarter valued at about $8,322,000. American Alpha Advisors LLC boosted its holdings in shares of e.l.f. Beauty by 168.8% in the first quarter. American Alpha Advisors LLC now owns 25,479 shares of the company's stock valued at $1,600,000 after acquiring an additional 16,000 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC boosted its holdings in shares of e.l.f. Beauty by 9.9% in the first quarter. Zevenbergen Capital Investments LLC now owns 682,009 shares of the company's stock valued at $42,823,000 after acquiring an additional 61,282 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Insider Activity

In related news, insider Kory Marchisotto sold 11,860 shares of the company'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 completion of the transaction, the insider owned 159,799 shares of the company's stock, valued at approximately $18,466,372.44. This represents a 6.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tarang Amin sold 24,533 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $115.56, for a total transaction of $2,835,033.48. Following the transaction, the chief executive officer directly owned 188,991 shares of the company's stock, valued at $21,839,799.96. This trade represents a 11.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,219 shares of company stock valued at $15,098,642 in the last ninety days. 3.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on ELF. Jefferies Financial Group set a $115.00 price objective on shares of e.l.f. Beauty and gave the company a "buy" rating in a research note on Thursday, May 29th. JPMorgan Chase & Co. reduced their price target on shares of e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft raised 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 report on Friday, August 8th. Morgan Stanley raised shares of e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $114.00 to $134.00 in a report on Monday, August 11th. Finally, Raymond James Financial upped 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 report on Thursday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, e.l.f. Beauty presently has an average rating of "Moderate Buy" and an average price target of $123.81.

e.l.f. Beauty Trading Down 0.5%

Shares of ELF traded down $0.6210 on Wednesday, hitting $119.2090. 941,780 shares of the stock traded hands, compared to its average volume of 2,694,461. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $7.07 billion, a P/E ratio of 69.87, a P/E/G ratio of 3.06 and a beta of 1.57. The stock's 50 day moving average is $119.00 and its two-hundred day moving average is $88.69. e.l.f. Beauty has a 1 year low of $49.40 and a 1 year high of $172.49.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 earnings per share (EPS) 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 business had revenue of $353.74 million for the quarter, compared to the consensus estimate of $348.99 million. During the same quarter in the prior year, the firm posted $1.10 earnings per share. The company's quarterly revenue was up 9.0% compared to the same quarter last year. As a group, sell-side analysts predict that e.l.f. Beauty will post 2.38 earnings per share for the current year.

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.