HB Wealth Management LLC Purchases New Shares in e.l.f. Beauty $ELF

Key Points

• HB Wealth Management LLC acquired 3,004 shares of e.l.f. Beauty, valued at approximately $374,000, during the second quarter.
• e.l.f. Beauty reported a net margin of 7.29% and a return on equity of 16.36% in its latest earnings results, with quarterly revenue increasing 9.0% year-over-year.
• Analysts have mixed ratings on e.l.f. Beauty, with Morgan Stanley upgrading the stock to "overweight" and setting a new price target of $134, while Canaccord Genuity set a higher target at $165.

HB Wealth Management LLC acquired a new position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,004 shares of the company's stock, valued at approximately $374,000.

Several other institutional investors have also recently made changes to their positions in ELF. Golden State Wealth Management LLC bought a new position in shares of e.l.f. Beauty during the first quarter valued at about $33,000. Parallel Advisors LLC increased its stake in e.l.f. Beauty by 167.9% in the 2nd quarter. Parallel Advisors LLC now owns 627 shares of the company's stock valued at $78,000 after buying an additional 393 shares during the last quarter. Larson Financial Group LLC increased its stake in e.l.f. Beauty by 56.5% in the 1st quarter. Larson Financial Group LLC now owns 676 shares of the company's stock valued at $42,000 after buying an additional 244 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of e.l.f. Beauty by 577.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 759 shares of the company's stock worth $49,000 after buying an additional 647 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of e.l.f. Beauty by 27.9% in the 1st quarter. Signaturefd LLC now owns 858 shares of the company's stock worth $54,000 after buying an additional 187 shares during the last quarter. Institutional investors own 92.44% of the company's stock.

e.l.f. Beauty Stock Down 0.8%

ELF opened at $134.88 on Monday. e.l.f. Beauty has a 12 month low of $49.40 and a 12 month high of $150.99. The company has a market cap of $8.00 billion, a PE ratio of 79.34, a price-to-earnings-growth ratio of 3.12 and a beta of 1.57. The company has a current ratio of 3.26, a quick ratio of 2.34 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $126.47 and a 200 day moving average of $102.58.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued 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 net margin of 7.29% and a return on equity of 16.36%. The business had revenue of $353.74 million for the quarter, compared to analysts' expectations of $348.99 million. During the same quarter in the previous year, the firm posted $1.10 EPS. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, sell-side analysts expect that e.l.f. Beauty will post 2.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley raised e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $114.00 to $134.00 in a research report on Monday, August 11th. Weiss Ratings restated a "hold (c)" rating on shares of e.l.f. Beauty in a research note on Saturday, September 27th. Canaccord Genuity Group set a $165.00 target price on e.l.f. Beauty in a research report on Tuesday, September 9th. Raymond James Financial reissued a "strong-buy" rating and issued a $155.00 price target (up from $140.00) on shares of e.l.f. Beauty in a report on Monday, September 8th. Finally, Piper Sandler initiated coverage on shares of e.l.f. Beauty in a research report on Thursday, September 4th. They set an "overweight" rating and a $150.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.60.

Insider Buying and Selling at e.l.f. Beauty

In other news, SVP Joshua Allen Franks sold 7,913 shares of the company's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $145.00, for a total transaction of $1,147,385.00. Following the sale, the senior vice president directly owned 99,369 shares in the company, valued at $14,408,505. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Scott Milsten sold 15,000 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $150.23, for a total transaction of $2,253,450.00. Following the completion of the sale, the insider directly owned 97,406 shares in the company, valued at approximately $14,633,303.38. The trade was a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 301,060 shares of company stock worth $40,994,733 in the last three months. 3.90% of the stock is currently owned by corporate insiders.

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.

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