GAMMA Investing LLC Has $7.88 Million Stock Position in e.l.f. Beauty, Inc. (NYSE:ELF)

GAMMA Investing LLC grew its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 14,478.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,517 shares of the company's stock after acquiring an additional 124,656 shares during the quarter. GAMMA Investing LLC owned about 0.22% of e.l.f. Beauty worth $7,881,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ELF. Nemes Rush Group LLC purchased a new position in shares of e.l.f. Beauty in the fourth quarter worth $27,000. Orion Capital Management LLC acquired a new stake in e.l.f. Beauty during the 4th quarter worth about $30,000. Promus Capital LLC purchased a new position in e.l.f. Beauty during the fourth quarter valued at approximately $31,000. Kestra Investment Management LLC purchased a new stake in e.l.f. Beauty during the fourth quarter worth $32,000. Finally, Wilmington Savings Fund Society FSB increased its position in shares of e.l.f. Beauty by 84.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 429 shares of the company's stock valued at $54,000 after buying an additional 197 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of e.l.f. Beauty from $70.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Truist Financial increased their price objective on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 6th. Robert W. Baird boosted their target price on e.l.f. Beauty from $110.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. The Goldman Sachs Group dropped their target price on e.l.f. Beauty from $142.00 to $124.00 and set a "buy" rating for the company in a report on Friday, February 21st. Finally, Raymond James lifted their price target on e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $120.71.

Insider Activity at e.l.f. Beauty

In related news, SVP Joshua Allen Franks sold 51,353 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $2,740,196.08. Following the sale, the senior vice president now owns 114,660 shares in the company, valued at approximately $6,118,257.60. This trade represents a 30.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tarang Amin sold 97,915 shares of e.l.f. Beauty stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $53.36, for a total value of $5,224,744.40. Following the completion of the transaction, the chief executive officer now directly owns 181,289 shares in the company, valued at $9,673,581.04. This represents a 35.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,207 shares of company stock worth $25,252,926 in the last 90 days. 3.50% of the stock is owned by insiders.

e.l.f. Beauty Trading Up 3.0%

NYSE ELF traded up $3.78 on Thursday, reaching $128.30. The stock had a trading volume of 2,542,618 shares, compared to its average volume of 2,533,261. e.l.f. Beauty, Inc. has a 12-month low of $49.40 and a 12-month high of $219.77. The stock has a fifty day moving average price of $76.00 and a two-hundred day moving average price of $91.59. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 75.92, a P/E/G ratio of 6.76 and a beta of 1.52. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.20.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. The company had revenue of $332.65 million during the quarter, compared to analysts' expectations of $327.45 million. During the same quarter in the previous year, the business posted $0.53 EPS. The firm's revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that e.l.f. Beauty, Inc. will post 2.38 EPS for the current fiscal 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.