City Center Advisors LLC Invests $431,000 in e.l.f. Beauty $ELF

Key Points

• City Center Advisors LLC made a new investment in e.l.f. Beauty, purchasing 3,464 shares valued at approximately $431,000.
• Insider Mandy J. Fields sold 55,692 shares of e.l.f. Beauty for over $7.5 million, representing a significant 46.47% decrease in her position.
• Analyst ratings for e.l.f. Beauty indicate a consensus rating of "Moderate Buy" with an average price target of $131.73.

City Center Advisors LLC acquired a new position in shares of 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 and Exchange Commission. The institutional investor acquired 3,464 shares of the company's stock, valued at approximately $431,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Champlain Investment Partners LLC lifted its holdings in shares of e.l.f. Beauty by 19.7% in the first quarter. Champlain Investment Partners LLC now owns 2,665,026 shares of the company's stock worth $167,337,000 after buying an additional 438,575 shares in the last quarter. Swedbank AB increased its holdings in e.l.f. Beauty by 42.6% during the 1st quarter. Swedbank AB now owns 1,157,760 shares of the company's stock worth $72,696,000 after acquiring an additional 345,760 shares during the period. Congress Asset Management Co. increased its holdings in e.l.f. Beauty by 53.7% during the 1st quarter. Congress Asset Management Co. now owns 938,970 shares of the company's stock worth $58,958,000 after acquiring an additional 327,980 shares during the period. Mackenzie Financial Corp boosted its holdings in e.l.f. Beauty by 68.0% in the 1st quarter. Mackenzie Financial Corp now owns 862,671 shares of the company's stock valued at $54,167,000 after purchasing an additional 349,024 shares during the period. Finally, Zevenbergen Capital Investments LLC boosted its holdings in e.l.f. Beauty by 9.9% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 682,009 shares of the company's stock valued at $42,823,000 after purchasing an additional 61,282 shares during the period. Hedge funds and other institutional investors own 92.44% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. B. Riley upped their price target on shares of e.l.f. Beauty from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Bank of America boosted their price objective on e.l.f. Beauty from $113.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Truist Financial upped their price objective on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. UBS Group cut their price target on shares of e.l.f. Beauty from $120.00 to $112.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft cut shares of e.l.f. Beauty from a "buy" rating to a "hold" rating and raised their price objective for the company from $121.00 to $128.00 in a research report on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $131.73.

e.l.f. Beauty Trading Up 7.0%

NYSE ELF traded up $9.40 during trading on Monday, hitting $144.62. 1,700,356 shares of the company's stock traded hands, compared to its average volume of 1,717,109. The firm has a market cap of $8.58 billion, a P/E ratio of 85.07, a PEG ratio of 3.28 and a beta of 1.59. The stock has a fifty day moving average of $120.21 and a two-hundred day moving average of $95.71. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.34. e.l.f. Beauty has a 12-month low of $49.40 and a 12-month high of $147.33.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. The company 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 16.36%. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 earnings per share. As a group, sell-side analysts expect that e.l.f. Beauty will post 2.38 EPS for the current year.

Insider Transactions at e.l.f. Beauty

In other news, insider Jennifer Catherine Hartnett sold 1,304 shares of e.l.f. Beauty stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $136.32, for a total transaction of $177,761.28. Following the sale, the insider owned 52,599 shares of the company's stock, valued at approximately $7,170,295.68. The trade was a 2.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mandy J. Fields sold 55,692 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $136.28, for a total transaction of $7,589,705.76. Following the completion of the transaction, the insider directly owned 64,154 shares of the company's stock, valued at approximately $8,742,907.12. The trade was a 46.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,722 shares of company stock worth $19,794,790. 3.90% of the stock is owned by corporate insiders.

e.l.f. Beauty 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.