e.l.f. Beauty $ELF Holdings Raised by Granite Investment Partners LLC

Key Points

• Granite Investment Partners LLC boosted its stake in e.l.f. Beauty by 53.9% in the first quarter, ending with 102,433 shares valued at about $6.2 million.
• e.l.f. Beauty reported stronger-than-expected quarterly results, with EPS of $0.32 versus $0.29 expected and revenue of $449.29 million, up 35.1% year over year.
• Despite the solid earnings beat, the stock was trading down 1.5%, while analysts maintained a consensus rating of Moderate Buy with a target price of $78.31.

Granite Investment Partners LLC increased its holdings in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 53.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,433 shares of the company's stock after acquiring an additional 35,883 shares during the quarter. Granite Investment Partners LLC owned approximately 0.17% of e.l.f. Beauty worth $6,208,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ELF. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of e.l.f. Beauty in the fourth quarter worth $26,000. Hilton Head Capital Partners LLC bought a new stake in shares of e.l.f. Beauty during the 4th quarter worth $32,000. EverSource Wealth Advisors LLC boosted its position in shares of e.l.f. Beauty by 97.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company's stock valued at $32,000 after purchasing an additional 128 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of e.l.f. Beauty by 58.5% during the second 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 purchased a new stake in shares of e.l.f. Beauty in the fourth quarter valued at $41,000. 92.44% of the stock is currently owned by institutional investors.

e.l.f. Beauty Trading Down 1.5%

NYSE ELF opened at $74.20 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.35 and a quick ratio of 1.69. e.l.f. Beauty has a one year low of $48.82 and a one year high of $150.99. The stock's 50-day moving average is $60.80 and its 200-day moving average is $71.81. The firm has a market cap of $4.41 billion, a P/E ratio of 161.31, a P/E/G ratio of 2.93 and a beta of 1.59.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 20th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.03. The company had revenue of $449.29 million during the quarter, compared to analysts' expectations of $423.06 million. e.l.f. Beauty had a return on equity of 11.02% and a net margin of 1.61%.e.l.f. Beauty's revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. Sell-side analysts anticipate that e.l.f. Beauty will post 2.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jennifer Catherine Hartnett sold 25,357 shares of the 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 sale, the insider owned 28,699 shares of the company's stock, valued at $2,295,920. This represents a 46.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mandy J. Fields sold 4,327 shares of the firm's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $51.53, for a total transaction of $222,970.31. Following the completion of the transaction, the insider directly owned 106,961 shares in the company, valued at approximately $5,511,700.33. This represents a 3.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 278,988 shares of company stock valued at $18,354,580. Insiders own 3.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ELF. Robert W. Baird cut their price objective on shares of e.l.f. Beauty from $115.00 to $90.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 28th. Morgan Stanley decreased 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 research report on Thursday, May 21st. Sanford C. Bernstein assumed coverage on shares of e.l.f. Beauty in a report on Thursday, June 11th. They issued a "market perform" rating and a $60.00 price target on the stock. Citigroup dropped their target price on e.l.f. Beauty from $115.00 to $87.00 and set a "buy" rating for the company in a report on Wednesday, April 15th. Finally, Canaccord Genuity Group cut their price target on shares of e.l.f. Beauty from $100.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.31.

e.l.f. Beauty Profile

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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