CW Advisors LLC Raises Stake in e.l.f. Beauty $ELF

Key Points

• CW Advisors LLC increased its shareholding in e.l.f. Beauty by 48.3% during Q1, now owning approximately 0.23% of the company, valued at about $8.24 million.
• Several institutional investors also significantly boosted their stakes in e.l.f. Beauty, with Congress Asset Management Co. increasing by 53.7% and Mackenzie Financial Corp by 68.0% in the same period.
• e.l.f. Beauty's latest earnings report revealed a quarterly revenue of $353.74 million, surpassing estimates and reflecting a 9.0% year-over-year growth, alongside a reported $0.89 earnings per share (EPS).

CW Advisors LLC lifted its position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 48.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 131,221 shares of the company's stock after purchasing an additional 42,762 shares during the quarter. CW Advisors LLC owned about 0.23% of e.l.f. Beauty worth $8,239,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Congress Asset Management Co. grew its holdings in shares of 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 purchasing an additional 327,980 shares during the period. Mackenzie Financial Corp grew its holdings in shares of e.l.f. Beauty by 68.0% during the 1st quarter. Mackenzie Financial Corp now owns 862,671 shares of the company's stock worth $54,167,000 after purchasing an additional 349,024 shares during the period. Zevenbergen Capital Investments LLC grew its holdings in shares of e.l.f. Beauty by 9.9% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 682,009 shares of the company's stock worth $42,823,000 after purchasing an additional 61,282 shares during the period. Prime Capital Management Co Ltd grew its holdings in shares of e.l.f. Beauty by 167.8% during the 1st quarter. Prime Capital Management Co Ltd now owns 604,535 shares of the company's stock worth $37,959,000 after purchasing an additional 378,826 shares during the period. Finally, Aspex Management HK Ltd purchased a new stake in shares of e.l.f. Beauty during the 4th quarter worth about $73,576,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Insider Buying and Selling

In other e.l.f. Beauty news, insider Kory Marchisotto sold 11,860 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 value of $1,370,541.60. Following the transaction, the insider directly owned 159,799 shares of the company's stock, valued at $18,466,372.44. This represents a 6.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Joshua Allen Franks sold 11,860 shares of the business'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 value of $1,370,541.60. Following the completion of the sale, the senior vice president owned 121,967 shares of the company's stock, valued at $14,094,506.52. This trade represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,219 shares of company stock worth $15,098,642 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

e.l.f. Beauty Stock Performance

Shares of ELF opened at $118.2540 on Friday. The business's 50 day moving average is $118.54 and its two-hundred day moving average is $89.27. e.l.f. Beauty has a 52-week low of $49.40 and a 52-week high of $172.49. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 69.56, a PEG ratio of 2.87 and a beta of 1.57. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The company had revenue of $353.74 million for the quarter, compared to analyst estimates of $348.99 million. During the same period in the prior year, the company posted $1.10 EPS. e.l.f. Beauty's quarterly revenue was up 9.0% on a year-over-year basis. Analysts forecast that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

ELF has been the topic of several recent research reports. Raymond James Financial boosted their price target on e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. JPMorgan Chase & Co. reduced their price target on e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Morgan Stanley raised e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $114.00 to $134.00 in a research report on Monday, August 11th. Jefferies Financial Group set a $115.00 price target on e.l.f. Beauty and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, Deutsche Bank Aktiengesellschaft raised e.l.f. Beauty from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, e.l.f. Beauty presently has an average rating of "Moderate Buy" and an average price target of $123.81.

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.

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