Cynosure Group LLC Raises Position in e.l.f. Beauty (NYSE:ELF)

Key Points

• Cynosure Group LLC increased its holdings in e.l.f. Beauty by 498.7% during the first quarter, acquiring an additional 22,221 shares, bringing their total to 26,677 shares valued at approximately $1.68 million.
• Multiple analysts have upgraded e.l.f. Beauty's stock price targets, with Robert W. Baird raising it from $110 to $145 and B. Riley increasing it to $150, reflecting a strong buy sentiment.
• e.l.f. Beauty's recent quarterly earnings showed an EPS of $0.89, exceeding expectations, with a net margin of 7.29% and a year-over-year revenue increase of 9% to $353.74 million.

Cynosure Group LLC grew its holdings in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 498.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,677 shares of the company's stock after purchasing an additional 22,221 shares during the period. Cynosure Group LLC's holdings in e.l.f. Beauty were worth $1,675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Aurora Investment Counsel purchased a new stake in shares of e.l.f. Beauty during the 1st quarter worth approximately $294,000. Caas Capital Management LP boosted its stake in shares of e.l.f. Beauty by 1,466.7% during the 1st quarter. Caas Capital Management LP now owns 4,700 shares of the company's stock worth $295,000 after acquiring an additional 4,400 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of e.l.f. Beauty by 42.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company's stock worth $6,482,000 after acquiring an additional 30,530 shares in the last quarter. Granahan Investment Management LLC purchased a new stake in shares of e.l.f. Beauty during the 4th quarter worth approximately $9,671,000. Finally, Vontobel Holding Ltd. boosted its stake in shares of e.l.f. Beauty by 165.6% during the 1st quarter. Vontobel Holding Ltd. now owns 15,181 shares of the company's stock worth $953,000 after acquiring an additional 9,466 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Insider Buying and Selling

In related news, insider Kory Marchisotto sold 1,496 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $117.61, for a total value of $175,944.56. Following the completion of the sale, the insider owned 158,303 shares in the company, valued at $18,618,015.83. This represents a 0.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Joshua Allen Franks sold 1,496 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $117.61, for a total transaction of $175,944.56. Following the transaction, the senior vice president owned 120,471 shares of the company's stock, valued at approximately $14,168,594.31. This represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,589 shares of company stock valued at $14,547,949 in the last quarter. Insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ELF shares. Jefferies Financial Group set a $115.00 price target on e.l.f. Beauty and gave the stock a "buy" rating in a research note on Thursday, May 29th. Truist Financial increased their price target on e.l.f. Beauty from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Morgan Stanley raised e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $114.00 to $134.00 in a research note on Monday. B. Riley restated a "buy" rating and set a $150.00 price objective (up from $110.00) on shares of e.l.f. Beauty in a report on Friday, June 13th. Finally, UBS Group dropped their price objective on e.l.f. Beauty from $120.00 to $112.00 and set a "neutral" rating for the company in a report on Thursday. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, e.l.f. Beauty has a consensus rating of "Moderate Buy" and an average price target of $123.81.

e.l.f. Beauty Trading Up 9.6%

ELF stock traded up $9.73 during trading on Monday, reaching $111.50. 6,185,361 shares of the stock traded hands, compared to its average volume of 2,105,924. The business's 50 day moving average price is $118.61 and its 200-day moving average price is $87.94. e.l.f. Beauty has a 52-week low of $49.40 and a 52-week high of $172.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.34. The firm has a market capitalization of $6.33 billion, a PE ratio of 65.59, a P/E/G ratio of 2.40 and a beta of 1.57.

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

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.