GAMMA Investing LLC Purchases 646 Shares of Ulta Beauty Inc. $ULTA

Key Points

• GAMMA Investing LLC increased its holdings in Ulta Beauty Inc. by 53.4% to a total of 1,856 shares after purchasing an additional 646 shares in the second quarter.
• Ulta Beauty reported a strong quarterly earnings of $5.78 EPS, exceeding analyst expectations of $5.03, with notable revenue of $2.79 billion during the quarter.
• The stock is currently rated as a "Moderate Buy" with an average price target of $543.13 set by analysts, indicating positive market sentiment.

GAMMA Investing LLC raised its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 53.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,856 shares of the specialty retailer's stock after purchasing an additional 646 shares during the quarter. GAMMA Investing LLC's holdings in Ulta Beauty were worth $868,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ULTA. Vident Advisory LLC raised its holdings in Ulta Beauty by 120.5% in the 4th quarter. Vident Advisory LLC now owns 1,160 shares of the specialty retailer's stock worth $505,000 after acquiring an additional 634 shares during the last quarter. Forum Financial Management LP boosted its stake in Ulta Beauty by 7.1% during the 4th quarter. Forum Financial Management LP now owns 620 shares of the specialty retailer's stock valued at $270,000 after purchasing an additional 41 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Ulta Beauty by 12.7% in the 4th quarter. Mackenzie Financial Corp now owns 13,958 shares of the specialty retailer's stock worth $6,071,000 after purchasing an additional 1,575 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Ulta Beauty in the fourth quarter worth $73,780,000. Finally, Park Square Financial Group LLC purchased a new position in shares of Ulta Beauty in the fourth quarter worth $123,000. Institutional investors own 90.39% of the company's stock.

Ulta Beauty Stock Up 1.2%

Shares of Ulta Beauty stock opened at $524.60 on Wednesday. The company has a market capitalization of $23.52 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 2.85 and a beta of 1.06. The stock's 50-day simple moving average is $515.83 and its 200-day simple moving average is $446.13. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $539.00.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $0.75. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The firm had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter last year, the business posted $5.30 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. On average, equities analysts expect that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Piper Sandler initiated coverage on Ulta Beauty in a research report on Thursday, September 4th. They set an "overweight" rating and a $590.00 price objective on the stock. Canaccord Genuity Group set a $650.00 price target on shares of Ulta Beauty in a report on Friday, August 29th. UBS Group boosted their price objective on shares of Ulta Beauty from $640.00 to $680.00 and gave the company a "buy" rating in a report on Friday, August 29th. Barclays raised their target price on shares of Ulta Beauty from $589.00 to $617.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Finally, Evercore ISI lifted their target price on shares of Ulta Beauty from $595.00 to $640.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $543.13.

Insider Activity at Ulta Beauty

In related news, Director Mike C. Smith sold 500 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total transaction of $264,215.00. Following the completion of the transaction, the director owned 2,263 shares in the company, valued at approximately $1,195,837.09. This represents a 18.10% 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. Company insiders own 0.39% of the company's stock.

About Ulta Beauty

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.

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